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In joint tenancy, tenants are collectively responsible for paying the total rent. If one tenant fails to pay their share of the rent, the remaining tenants must make up for it. In multiple agreements, each tenant is only responsible for paying their own rent.

A tenancy agreement is a crucial document that outlines the legal obligations and rights of both the tenant and the landlord. All tenants and most landlords living in the property should be named on the agreement, including joint tenants and any other tenants living there.

If an agreement states that you and your roommate(s) are "jointly and severally liable," it's confirming that you're individually and collectively liable for the entire rent. In the event that your roommate(s) fail(s) to pay, you can be held responsible for his/her portion of the rent.

Both names on lease or one name, doesn't matter. Most property management companies will add an addendum if something happens to a spouse, as long as the surviving spouse has the ability to pay the rent, etc.

Get the amendment signed by both parties: Both the landlord and the tenants will need to sign the amendment in order for it to be valid. It is a good idea to have the amendment witnessed by at least two other people.

What should I include in a lease agreement? Terms. The lease should state the length of the agreement. Rent. The amount of rent and when it is due. Deposits and fees. ... The names of all tenants. ... Occupancy limits. ... Restrictions on disruptive activity. ... Pets. ... Maintenance and repairs.

You can create a rental agreement in the name of more than one person. This is mostly done when many individuals plan to live together in the rented property and want to share both the rent and the obligations of the rental agreement.