Joint tenancy: all for one
Lesson 7 of 13 in our free Housing & Renting guide: a 5-minute money game with the key points below.
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Questions you'll answer
Four of you share £2,000 a month rent on a joint tenancy. Dex stops paying his £500. If the other three cover it equally, how much extra does each pay?
A housemate wants to leave mid-tenancy. What's the best first step?
Quick facts
- One contract, everyone signs the same document for the whole house → Joint. Classic joint tenancy.
- You only pay for and are responsible for your own room → Individual. Individual contracts limit your liability to your bit.
- If a housemate damages the kitchen, it can come out of the shared deposit → Joint. Joint tenancies usually have one deposit for everyone.
- A housemate leaving doesn't change your rent → Individual. With an individual contract, their rent isn't on you.