What Is a Roommate Lease Agreement?

A mailbox that is commonly seen in apartments.

Roommate lease agreements are a set of rules that your rooming arrangement is based on. Before moving in to your new house or apartment, You and your potential roommate(s) should meet somewhere, sit down and go other your agreement together. You and your roommates will need to form clear rules and expectations in the leasing agreement.

Types

The leasing agreement can focus on either personal or financial agreements. For example, the agreements may outline the amount of money that is needed for rent each month, the terms of rent payment (check, cash, money order or credit card), the length of the lease and/or the conditions of breaking the lease. On the other hand, the personal agreements may outline housekeeping duties, whether overnight guests are allowed, policy on keeping pets and etc.

Significance

The roommate leasing agreement is a template that provides rules for each roommate. You and your roommate will have to agree between many leasing rules, and the leasing agreement is the end product. The leasing agreement will allow for a stable and predictable living environment. When all of the roommates know exactly how much they owe and the roles in the apartment or house, then everything tends to run a lot smoother.

Time Frame

The time frame of leasing depends on you, your roommate and the leasing office. Many apartments have six-month to one-year leases. To gain more business, the one-year lease is usually cheaper in monthly rates than a six-month lease. In addition, some apartments have specials. Some of the more popular housing specials are that if you sign a one-year lease then you get a cash bonus, or your first month's rent is free.

Warning

The lease agreement has to be approved not only by your roommates but by your landlord as well. Your landlord will make a list of lease agreements as well. For example, there may be a noise violation agreement that prohibits you from throwing raging parties. Neighbors can be picky, so what sounds soft to you may sound loud to them. In addition, you may have to pay additional fees, such as a security deposit.

Prevention/Solution

To make sure that your roommate doesn't leave you in the middle of your lease, write, in your agreement, that moving out will cause a penalty. In addition, if a roommate moves out, make sure that he/she has someone to fill their slot. It is common for people to take over other people's leases. If this happens you will need to talk to your renter about the roommate change and note it in your agreement.

References

• GetARoomie - Roommate Agreements
• Moving to An Apartment - How to Negotiate Your Lease Before You Re-Sign