House Sharing Agreement

Students do it. Working professionals do it too. Though the main objective is to save some money, there are other reasons why people are on the lookout for rental apartment or houses to live together. In such cases, a house sharing agreement is a necessary step that you must take before you move in to the place. Read ahead to know more about this.

Why It is Important
Signing a house sharing agreement is important because of the following reasons.

• It gives you the legal status of being a tenant of the house.
• It explicitly states the amount of rent, date of paying the rent and the deposit amount. This way, any future disputes can be avoided.
• By signing this agreement, you become liable to the landlord for taking care of his property.
• You get some rights as a tenant, and the landlord must perform his responsibilities as well.
• The agreement is a legally binding contract. It can be used as a proof of residence.
• It explains the landlord's terms and conditions of the lease agreement.

Contents of a Standard Written House Sharing Agreement
Here is a list of the general contents of a house sharing agreement. The agreement may vary from landlord to landlord. This is just a generic list.

• Name of landlord
• Name of tenants
• Amount of deposit
• Amount of monthly rent
• Date of payment of rent
• Interest rate for delay in rent payment
• Duration of the agreement
• Insurance provision (if any)
• Terms and conditions regarding further sub letting
• Payment of utilities like water, electricity, telephone, internet access, etc.
• Policy about any amendment to the already existing furniture and other interior decorating
• A list of the owner's property at the house
• Conditions regarding the behavior of the tenants with each other
• Conditions regarding the tenants' behavior with the landlord
• Conditions under which the lease can be terminated by the landlord
• Notice period for voluntary termination of agreement
• Policy regarding the household rules and duties of tenants

Implied/Oral Agreement
There are certain ground rules that are set amongst the co-tenants of the house regarding the following. They may be discussed orally OR can also be included in the written agreement.

• Division of rent
• Division of utilities bills
• Division of taxes to be paid (if any)
• Rules about pets
• Girlfriends/boyfriends staying over
• Rules about smoking and drinking
• Use and maintenance of the household appliances provided by the landlord, like kitchen appliances or the television, computers, etc.
• A promise to use the utilities in moderation and to avoid wastage of water and electricity
• Rules about who, apart from the tenants, can be given a set of keys to the house
• Who's in charge of collecting the rent and handing the check over to the landlord
• Who will take care of the cleaning of the house
• Who will look after the cooking and shopping for groceries (if applicable)

A Template

HOUSE SHARING AGREEMENT I, (name of tenant) hereby promise to pay (name of landlord), the sum of $(amount) as monthly rent and $(amount) as my share of deposit, for the accommodation at (address of house) for 6 months from (date of signing agreement). Given below are the terms and conditions that I agree to, as a co-tenant at said address. I will pay the monthly rent between the 1st and 10th day of the month. I will pay a 10% interest in case of default of payment. I will not keep any pets in the residential premises. I will avoid wastage of water, electricity and other utilities provided by the landlord. I will not, by any of my activities, disturb the peaceful atmosphere around the house. I will not, under any circumstance give, or make a copy of the house keys, for any reason, whatsoever. I will not sublet the house without prior intimation to the landlord. I will not carry out any illegal activities in the house. I, along with my co-tenants, will maintain decorum at all times and take responsibility for any damage that we may cause to the landlord's property. I also agree that this agreement can be terminated by the landlord at his discretion, if I fail to comply with any of the above-mentioned conditions. Signed, ______ (name of tenant) Date: Place: Signed, _______ (name of landlord) Date: Place:

Hope this information on a house sharing agreement helped. Take care and choose a house wisely!