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If for instance there is a change in ownership of the property or a change in bank accounts when joint landlords changed their own relationship status you need to make sure you are paying the right person. Updating the lease directly with the landlord or property company will protect you from being legally bound to pay rent or damages on a home you no longer occupy without directly contacting your ex.Īs a tenant, knowing who you are legally contracted to pay is equally important.
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If you don’t update the contract to exclude you and your ex doesn’t pay rent, there is a chance that as the leaseholder you could be blacklisted.
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Shanaaz Trethewey, CEO of RentMaster, shares the risks associated with the separation process and her top insights on how to navigate these sensitive times swiftly, empathetically and accurately.Īs a tenant, if you vacate the property the lease must be updated immediately to absolve you of any legally binding agreement you made to pay the rent. However, the admin that goes with the de-coupling process if ignored can have dire financial consequences that stretch far further than the time needed to heal your heart. The last thing people wonder about is all the paperwork associated with moving on. In situations where relationships are ending both landlords and tenants are at risk. It’s an unfortunate reality that often separations break both the bank and your heart.