Joint tenancies are a great way for friends or couples to live together and share the rental burden. (Think about best buddies and flatmates Joey and Chandler in Friends, they had a ball, right?)
And joint tenancies can also be good news for landlords, providing steady long-term income and low tenant turnover. (If your tenants are happy and get along like Joey and Chandler, they’ll stay for years.)
But sometimes, the relationship between tenants turns sour and things can get complicated. Before we look at managing tenant relationships, here’s a quick recap on joint tenancies.
Getting the best out of a joint tenancy
· Never rely on one tenant to share important information with other tenants for you (they may fail to do so or may get it wrong).
To find out how Village Properties can help manage your property and avoid tenancy troubles, get in touch.
*Always check the terms of your rental agreement and, if in doubt, seek expert advice.
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