Moving in with friends or colleagues is one of the most common ways to rent - and one of the least explained. Before you sign anything, it's worth understanding exactly how a joint tenancy works, because it's rarely as simple as 'everyone pays their own share'.
What is a joint tenancy?
A joint tenancy means every named tenant signs the same single agreement and is equally responsible for the whole tenancy - not just an individual room or a proportional share. This is known as 'joint and several liability': if one housemate doesn't pay their share of the rent, the others are still legally responsible for covering the full amount.
What happens if a housemate moves out early?
On a standard joint tenancy, one person leaving doesn't automatically end the tenancy or reduce what's owed - the remaining tenants are still liable for the full rent unless a new agreement is reached. This is exactly why it's worth agreeing, in writing, what happens if someone needs to leave before the tenancy ends, ideally before you move in together.
Splitting bills and responsibilities fairly
Agree a clear way to split rent and bills, even if it isn't perfectly equal room-by-room
Decide how you'll handle a shortfall if someone's late paying their share
Put any informal agreement between housemates in writing, even a simple shared document
Keep a joint record of who's paid what, to avoid disputes later
Deposits on a joint tenancy
A single deposit is usually held for the whole property, not split into individual pots. At the end of the tenancy, any deductions come out of that shared deposit - which is another reason to keep the property in good shape collectively, not just in your own room.
Frequently asked questions
If my housemate stops paying rent, am I liable for their share?
Generally, yes. On a joint tenancy, all named tenants are jointly and severally liable, meaning the landlord can pursue any or all of you for the full rent, regardless of an informal split.
Can one housemate be removed from a joint tenancy without ending it for everyone?
Not automatically. It usually requires a new tenancy agreement, often called a deed of assignment or surrender and re-grant, agreed with your landlord - it isn't something housemates can simply arrange between themselves.
Is the deposit split between housemates when we move out?
The deposit is usually returned as a single amount to be divided between tenants, so it's worth agreeing how any deductions or disputes will be split before you need to deal with it.
Thinking about renting with housemates, or want help setting up a joint tenancy properly? Get in touch at hello@benchmarkea.co.uk or 020 3832 6106.