- The percentage of rent payable by each co-tenant
- The duration of tenancy
- The percentage of deposit to be paid by each co-tenant
- The facilities to be made available to all the tenants
- Rights and responsibilities of the landlord
- Rights and responsibilities of all the tenants
- The notice period
Changing British Society: The Halifax Indicator shows that more than 74 percent of house sharing agreements are signed by local and international students. In fact, University Accommodation services at Bristol and Bath University recommend this type of tenancy. A house sharing tenancy assures:
- less expenses
- company
- safety
University Accommodation services claim that usually a group of full-time students gets together and enters into a house sharing tenancy agreement. However, as social Psychologist, Day, points out students prefer to use the online method while entering into a house sharing tenancy agreement. Students are concerned with their studies and prefer to get settled in a house without hassle and wastage of time. Online method has the following advantages:
- Students find physically going to a solicitor and drawing up the house sharing agreement a tedious task
- Students are usually categorised to be ‘below the poverty line’ in the UK. They cannot afford to hire a lawyer and the expenses of travelling.
- Students are often unaware of housing and tenancy laws. They do not understand legal jargon and documentation clauses. Online agencies provide guides and support
- Online agencies also provide students with the convenience of entering into a ‘Roommate Agreement’ ensuring that the terms of tenancy and property responsibilities are clear between the tenants.
- An online house sharing agreement also provides a content insurance policy for the landlord and the tenants. This insurance policy ensures that the correct person liable for any theft is rightly charged with the payment.
- Students have easy accessibility to the Internet and can secure house sharing agreements online.
Online House Sharing Agreements usually are student-friendly. Online agencies understand that a major part of their profit comes from students. Usually online agencies such as tenancy- agreement and Legalhelpers provide house sharing advice to students:
- Always take a friend or a responsible acquaintance when viewing the property premises. Online agencies state that often students are duped into entering house sharing tenancy agreements for properties other than the one viewed.
- Be positive and knowledgeable about tenancy facts of deposit and rental advance. The two terms are different from each other. Prospective tenants have to pay a month’s rent as advance and a deposit amount of six weeks rent.
- Always read the tenancy agreement. Online agencies provide solicitor-drafted agreements coupled with a definition sheet of tenancy terms. Online agency solicitors prepare tenancy agreement clauses which are in compliance with the 1988 UK Housing Act.
- Online agencies also make sure that a content insurance cover is provided by the landlord.
- The legal team of the online agency ensures that the house sharing tenancy agreement is constructed in the present tense outlining the rent, duration and the notice period.
- Online house sharing agreement services also ensure that the prospective tenants are not liable for any existent or naturally occurring property damage. Online agencies make sure that the landlord agrees to a repair clause.
- The agency advises prospective tenants to keep a record of all rent payments.
The prospective tenant has to visit an online house sharing agreement agency’s website and fill in the application form with the vital and required information. The information is then verified by the online agency’s legal experts. The house sharing agreement is drafted and emailed to the individuals for revision. On editing, the deed is sent back to the agency.
The online agency contacts the respective landlord and after obtaining his/ her consent, the deed is finalised. The house sharing online agreement is a legally binding document. Thus, both parties have to sign the agreement in front of the online agency’s solicitor. The agreement is duly signed by the lawyer and stored.
As the tenancy period ends, the agreement’s notice and deposit clauses come into fore. The online agency ensures that the tenants get their deposits back. Thus, online house sharing agreement services have made tenancy agreements easier. The future of these online agencies is largely dependent on the rate of student infiltration in the country.