Shared tenancy

From: Thorpey !


Howdy folks,
I was wondering if anyone can shed some light on how to structure a shared tenancy.
The situation is this:
2 Brm house upstairs with another two brms added downstairs and a bathroom and lounge as well. Also, internal access to upstairs added.
Currently rented for $220/w but new rental will be aprox $280/300per week.
We have (prospects of) three nurses who want to share the rent on this property. What's the best way to "sign up" these tenants without too many complications when one or more decides to leave ?
Any ideas would be appreciated.......... I thought that maybe have a rental agreement with each of the three, but that would mean when one leaves, I would have to find another quickly to maintain full rent.

Who's got a better way?

Regards,
Thorpey
 
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Reply: 1
From: Dale Gatherum-Goss


Hi

I would sign one of the nurses up as tenant and in doing so, allow her to sub let part of the building.

You get full rent, and, one of the nurses have to take responsibility for collecting the rent and the other obligations as a tenant.

Good luck

Dale
 
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Reply: 1.1
From: Thorpey !



Thanks Dale,
What if the one Nurse can't afford the rent if another leaves and can't find a replacement for a few weeks ?
Is it possible to sign all three up on the one rental agreement stipulating each has an obligation to share the full rent if any other leaves ?

Regards,
John Thorpe
 
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Reply: 1.1.1
From: Dale Gatherum-Goss


HI

What if's are always interesting, aren't they?

This is a question that perhaps Joanna can answer best as she appears to be involved in property management. However, if tenant signs a lease, it is their responsibility to make the payments. Full stop.

If they wish to share the house with other people, and charge them a share of the rent in the process, it is still the head tenants responsibility to look after the house and pay the rent.

As always, do your due diligence checks on the person involved, then, relax and collect the money. Or, hire a property manager to do all of this for you.

Have fun

Dale
 
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Reply: 1.1.2
From: Jas



>
> From: "Thorpedo !" <jthorpedo@yahoo.com.au>
>
>
> Thanks Dale,
> What if the one Nurse can't afford the rent if another leaves and
can't
> find a replacement for a few weeks ?
> Is it possible to sign all three up on the one rental agreement
> stipulating each has an obligation to share the full rent if any other
> leaves ?
>

Here are some sites to reassure you

http://www.thesource.gov.au/rights/tenants_rights/tenants_rights.htm
http://svc008.bne226dp.server-web.com/facts/renting/index.htm
http://www.fairtrading.nsw.gov.au/consumerhelp/rentingbuyingsellinghome/
rentingguide.html


and particularly this on assignment
http://svc008.bne226dp.server-web.com/facts/renting/index.htm

Jas
 
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Reply: 1.1.2.1
From: Thorpey !


Thank you,

Your ideas and advice is appreciated!

Cheers,
Thorpey
 
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Reply: 1.1.2.1.1
From: Joanna K


Hi Thorpedo,

If you have only one tenant sign the lease then only that one person has any liability, and if that 1 person decides to abscond, then you have squatters. If all 3 sign the lease then they are each joint and severally sliable for rent and anything else. You should stipulate to them that any arrangements they have between each other you do not want to know about. EG: you don't want Nurse 1 to pay you her share, then you have to wait for Nurse 2 and 3 to pay their share. This means you will have to chase each tenant separately for their rent - HASSLE!. Tell them you want 1 payment per week (or fortnight) and how they plit it is up to them, and you don't want to know about it.

Now, if 1 decides to abscond or leave, you still have the other 2 tenants who are responsible.

The only thing with having more than 1 tenant on the lease is that you need to make sure you have your paperwork and documentation 100% in order, otherwise if problems occur and you end up in the tribunal, the magistrate can be a jerk and dismiss your case for 1 small ommission.

Hope this helps some.


Kind regards
THE RENTAL SPECIALISTS

Joanna Karavasilis
Principal

www.rentalspecialists.com.au
rentals@rentalspecialists.com.au
 
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Reply: 1.1.2.1.1.1
From: Thorpey !



Thanks Joanna,

that is the way I thought would be most sound.
So, have the total rent stipulated then get all three to sign the lease as joint tenants........etc

Thanks for your help!

Thorpey
 
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