Co-tenant
A co-tenant is an individual who shares the legal rights and responsibilities of a rental property with one or more other tenants. This arrangement often occurs in apartments or houses where multiple people live together, each contributing to the rent and upkeep of the property. Co-tenants typically sign a lease agreement, which outlines their obligations and rights regarding the space.
In a co-tenancy situation, all co-tenants are equally responsible for the rent and any damages to the property. If one co-tenant fails to pay their share, the others may be held accountable. This relationship can be beneficial for sharing costs but requires clear communication and cooperation among all parties involved.