The best thing for having a friend is you feel like you have found another sibling. Mostly friends are the ones who we share ideas the most, and we agree to make them as our roommate. We grow with them, and they see everything about us. However, this means there are some differences that we need to compromise with the roommate. This is why you need the roommate rental agreement template.
This page provides you with the best roommate rental agreement forms free that come with premium features. We designed this template to be editable and customisable. You can download it in various formats, but most people use the Roommate rental agreement template Word.
What Makes Renting A Room With A Friend More Fun?
One of the benefits that you can enjoy is the rent price will be lower than you pay alone. Besides, friends can be your companion to share everything and grow up together with you. However, choosing a roommate is never an easy task. In some instances, most people have no idea how to predict someone’s character unless staying in the same room. Therefore, you need to set an agreement to avoid a dispute in the future, especially when we talk about the financial thing.
Before we jump to drafting the document, we need to be genuinely familiar with the renting terms. This means you are borrowing and you are paying it. In this case, you are hiring a room from a landlord, and as the benefit, the landlord will get the payment. Because you pay, your landlord will give you facilities such as a table, TV, bed, floor and many more.
Some of you choose to rent an apartment because it is close to your workplace, campus or you still can’t afford to buy a property. Therefore, to get a cheaper expense, you choose to stay with your friend.
The Elements Of Roommate Rental Agreement
There are several elements that you need to pay attention besides the introduction and the roommate’s name. Include the details below to make your agreement more powerful:
- Lease term – The lease terms are the most critical aspect of this document. It contains statements such as the rent payment, the responsibilities, rights and many more. Make sure you also mention the effective date when this agreement will be sufficient.
- Rent – If your roommate fails to fulfil the responsibilities (payment), another roommate should pay it for the two. This agreement is a little complicated to the regular ones because each party should discuss it thoroughly. At the same time, the landlord won’t want to put some risk, so mostly they will consider the payment should be in one package.
- House rules – If you are staying with a roommate, then you might want to set the house rules. This is why we suggest you only to find a roommate that have the same characters and the one who wants to take responsibility and not an obedient person.
- Overnight stay – Some landlords rule to ask the guest (your friend) to pay for an overnight stay. However, this depends on the landlord’s policies, and you always can negotiate.