In March 2021, changes to the Residential Tenancy Act came into effect that relate to how shared tenancies are treated.
Each party to a lease agreement is now referred to as a co-tenant. Joining or leaving a co-tenancy now requires the consent of the other co-tenants and the landlord.
The original tenancy agreement stays in place and it is the responsibility of the remaining co-tenants to deal with the Bond amongst themselves. The remaining co-tenants and any incoming tenants are responsible for the condition of the property as it was at the beginning of the original tenancy agreement. It is up to the remaining tenants to provide any incoming tenants with a copy of the Inventory and Condition Report they signed when commencing the tenancy.
The onus is placed on the tenant to inform us when they wish to change the makeup of the tenancy and to appropriately deal with the Bond. At Bolton & Co we have put procedures in place to guide tenants on the course of action they need to take in order to change their tenancy.
The landlord still has the right to approve or reject any application to join a tenancy. If any party to the Tenancy Agreement, a co-tenant or the landlord, disagrees with any proposed change, the matter can be heard at ACAT.
