Tips for adding or subtracting a roommate from your lease
The only constant is change — this is often the case with housing, especially for those who are younger. Adding and subtracting roommates to a rental can be fun, but it also has legal ramifications that should be considered in the early days.
Departing roommates
If your roommate is moving out, take the time to review what they were responsible for in the rental agreement. Were they a co-signer to the lease? You may have to update that with the management company.
Are they listed on any utilities? Be sure to change over all utilities to the proper contacts too.
If you are the roommate that’s leaving, be sure that you have all financial responsibilities tied up before you leave and make sure that your name is removed from any legal documents.
New roommates
It’s important to review your lease agreement to see if you need to make an update to your legal contract with the management company when you have a new permanent roommate moving in. They will likely have to complete an application and there may be some fees involved.
They should have all of the normal background information prepared as well, like a credit report, pay stubs/employment information.
Adding a new person to the agreement could impact your credit, if something goes wrong. If they move out or don’t pay their share of the rent, this could impact your good credit. When you are diving the responsibilities for utilities, make the same considerations.
The Arizona Multihousing Association is the statewide trade association for the apartment industry, representing more than 2,000 members in legislative, legal and regulatory matters.