Renting with your friends and other unrelated colleagues can be a fun and certainly has its benefits! And you may have a good friendship or initial understanding with a proposed roommate scenario, but did you know that living with others requires a lot of patience and mutual livelihood understandings within the household? Whether your plan is to rent a property with friends or strangers, you will have to deal with issues surrounding splitting of utility bills, how the unit is to be kept clean, what food belongs to which roommate, and what behaviors within the premises are deemed acceptable or unacceptable. While these may seem like minor issues which will be worked out later, they are the details of living with roommates which can make or break a living environment for the quiet enjoyment of the property. *Please note, we can NOT lease to more then 3 unrelated tenants in one household.*
If you intend to apply for one of Ultimate Property Management;s properties with one or more roommates or would like the opportunity to add a roommate at a later date, please discuss this with a UPM team member in advance. UPM has a Roommate Policy in place for rental agreements which differs from a standard lease agreement:
- All roommates and prospective co-tenants must submit separate rental applications and each application is subject to approval. Some applicants/scenarios may require a higher security deposit and/or a co-signer depending on the income, credit and background investigation.
- Once approved (including adding new roommates) UPM will require all of the roommates to sign a new rental agreement. UPM does NOT sublease and a new lease will be enforced once fully executed.
- It is a further UPM policy, that all roommate rental agreements shall written as a MONTH TO MONTH, 3 MONTH, or 6 Month RENTAL AGREEMENT. Tenants may terminate the tenancy by giving written notice at least 30 days prior to the intended termination date. Tenant shall be responsible for paying rent through the termination date even if moving out early. Landlord may terminate the tenancy by giving written notice as provided by law. Such notices may be given on any date.
- The month-to-month rental agreement shall be written with the understanding of joint and several liability. This means that when you sign the rental agreement with others, you become liable for each other's obligations. If one of the roommates can't pay rent or violates the rental agreement, all of the roommates are responsible for corrective action.
- Ultimate Property Management provides that our Tenants residing within premises under our management shall have the right to quiet enjoyment of the property and expects all Tenants within the premises to be respectful to one another and to Landlord. All rental agreements involving roommates will contain a clause specifying the following:
* * Tenants within the Premises shall have the right to quiet enjoyment of the property and all Tenants within the Premises shall be respectful to one another and to Landlord. Tenants further agree to not engage in disruptive behavior which is considered by Landlord to be a nuisance in or about the Premises. If it is determined by Landlord that a nuisance has been created, the Tenant will forthwith remedy same upon receipt of notice by the Landlord. If such nuisance is not so remedied, the Landlord may provide legal day notice to the Tenant of termination, without prejudice to the Landlord's other rights and recourse.