During this time of change in off-campus housing and post-secondary education due to Covid-19, people are speculating whether or not rental payments are still necessary if student tenants are no longer staying in their unit.
While some legal experts say it will depend on the type of rental accommodation and lease agreement, it is also important to consider a few other things while navigating these waters. Communication between landlords and tenants about the options and assistance available will help both parties get through this uncertain time.
Here are some suggestions to help tenants determine their financial responsibilities and obligations during these instances.
Review the Tenancy Agreement and Resources
Student tenants should read the tenancy agreement thoroughly, including all binding clauses (preferably with a parent or guardian)
Research resources and government financial assistance options that may be available
Consult with professional and legal experts (if needed)
Devise a financial plan and personal budget
Communicate with the Landlord
Reach out to the landlord to communicate honestly about the situation
Openly share any financial constraints related to paying rent
Ask about any late fee penalties or related policies
Landlords and student tenants should talk to come up with viable options and timelines together
Discuss rent payment plans, subletting policies and/or available alternatives
Develop a plan with benefits for both parties
While this pandemic has been stressful and impactful on everyone’s lives, it is important to make wise decisions for the outcomes, rather than choices that could potentially affect a student tenant’s credit score, rental history, and references.
It’s recommended that student tenants and landlords communicate openly to establish fair rental arrangements that support everyone involved.
SEE ALSO: Rental Resources for Landlords and Students
The Places4Students.com Team