Last Updated on 11/12/2024 by Rany Burstein
Moving in with a new roommate can be an exciting experience with a lot of possibilities to make a new best friend, learn about a different culture, or gain a Class Pass buddy. However, a lot of things can go wrong, terribly wrong! And no, we’re not talking about dirty dishes in the sink, or piled up trash. We have compiled a list of things that can go wrong, that you probably haven’t thought about before.
1. Your Roommate’s Baggage:
If you are being added to your new roommate’s existing lease with a landlord there are few pitfalls that can happen. First, you want to make sure that there are no outstanding past payments between your new roommate and the landlord. Once you are added to the lease, any past due payments become your liability as well so you want to make sure your entering into an agreement that is already in good standing. Second, any existing damage in the apartment may come back to haunt you when you decide to move out and expect your security deposit back. Make sure that there are no existing major damages that you might be expected to pay for later.
2. Your Roommate’s Financial Standing:
Landlords typically check a tenant’s creditworthiness, employment status and income level when they initially sign the lease. When a tenant renews a lease, typically he doesn’t get vetted again (assuming that he has been paying his rent on time). When you join an existing lease with a new roommate, his situation might have since changed for the worst (maybe the reason why he is now looking for a roommate). Make sure that your new roommate can still afford to pay the rent, because otherwise you will be on the hook (or get wrapped up in a housing court dispute)
3. Unexpected Lease Terms:
If you are signing a sublease directly with your new roommate who holds the main lease with the landlord, make sure that you read the original lease’s terms and conditions. You don’t want to sign a sublease for a year, only to find out that the original lease expires in one month and now you have to find a new place again. Also make sure that your roommate is allowed to sublease, as some landlords or condo associations do not allow it.
4. Drastic Rent Hikes:
Whether you are subleasing directly or joining an existing lease, make sure you are aware of the rent amount and type. One type of rent that landlords sometime use is called ‘preferential rent’ which is a rent price that is lower than the legal rent. Preferential rent can be given by a landlord for multiple reasons (a move in promotion, renovations in your building or apartment, market conditions, etc.), but it can be taken away without discretion by your landlord even in rent stabilized buildings. The gap between your preferential rent to your legal rent might be so wide, that it would not be economical to renew the lease under a new rent amount. Improved market conditions, minor violations on your part such as noise complaints, etc. can trigger the landlord to take away you lower preferential rent, and essentially legally force you out. Also, make sure you know whether the rent is ‘rent stabilized’ or not, and what have been the recent rent hikes each year.
5. Early Lease Termination:
If you have rented directly from an individual owner, you want to make sure that your lease is guaranteed throughout its duration. If not, an owner may decide that they want their apartment back, or give it to one of their family members and ask you to leave before the end of your lease. Also, the owner may sell the apartment during your tenancy, and the new owner may want you to move out. You should make sure that your lease states that a change in ownership would not impact your lease terms.