People in shared properties 'don't know what they're liable for', expert warns View Image

Hundreds of thousands of people are living in shared houses and homes of multiple occupancy in the UK, but few realise what they have made themselves liable for when they signed their joint and several tenancy agreements. One in five do not even know if their tenancy is joint or not, according to Housing Hand research.

These knowledge gaps could cost people and their guarantors thousands, according to Housing Hand managing director Graham Hayward. He said: “When a student signs a joint and several contract, which is standard for a house share, they often don’t realise quite what they’re taking on.

“A joint and several contract means that, if one housemate fails to pay their rent, the other hous

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