Split Lease Agreement

This is pretty standard when it comes to rentals with multiple tenants, but it`s a good upgrade that you and your tenants need to understand. It`s also one of the most confusing terms for tenants, as described here by our CEO and founder. The basics of joint and several liability are that anyone who signs the lease is liable for the rent – if one tenant cannot pay, it does not mean that the other two can only pay their share and qualify it as good. If they have signed the lease, all tenants must ensure that the full amount of rent is paid each month. Having this on the lease and explaining it to tenants is important when it comes to multiple leases – how they decide to allocate the rent is up to them alone. .