Types of Leases

There are two types of leases offered – individual and joint leases.

Individual Lease

An individual lease is when a tenant signs for a single room, meaning he or she is individually responsible for paying rent and any damages to the room and common areas. However, this may also mean the landlord can place any tenant in remaining rooms in the apartment or townhome. Be sure to check with your property management company about these policies prior to lease signing.

When you sign an individual or by-the-bedroom lease, you have your own room (and possibly bathroom) and share the common spaces. Students often gravitate towards this type of lease; if a roommate fails to pay their rent, the rest of the group isn’t responsible for covering his or her late payment like they would be in a joint lease. Plus, you cannot be held liable for a roommate who damaged their room and then ended their lease early. In some instances, the landlord or property manager has the authority to pick the roommate(s) – ask about this before finalizing the agreement.

Joint Lease

A joint lease is a lease signed by all tenants, making the entire group responsible for damages and paying the full rent. This places the choice of filling empty bedrooms in the home on the tenants themselves.

If you and your group choose a joint lease, you all enter a co-tenancy, which means everyone is responsible for utility costs, getting rent paid on time, and maintaining the home. If a roommate doesn’t pay their portion of rent, the landlord may come collect from the rest of the group to cover the cost.