Are you planning to go flatting in the New Year? Perhaps it will be your first time living away from home? Even if you have been flatting for a while, it is always a good idea to get your finances in order, so you know what expenses you’ll need to budget for. Talk to a Financial Mentor to help you get your budget in order, they can help you work out what you can afford, and help you put together a Money Plan to help you reach your goals.
If you are offered place in a rented property, it pays to know if you are going to be a tenant or a flatmate. A tenant will have their name on the Tenancy Agreement, therefore it will be all the named tenants who are equally responsible for ensuring all the requirements of the Tenancy Agreement are met. They will also have the relationship with the landlord.
Be very clear about what you are being asked to sign (if anything…), is it a Tenancy Agreement or a Flat Sharing Agreement? A visit to this page on the Tenancy Services website explains the differences between a tenant and a flatmate https://www.tenancy.govt.nz/starting-a-tenancy/flatting/
Also understand that a tenant has more rights than a flatmate; but also more responsibilities. Disputes between a tenant and their landlord can be taken to the Tenancy Tribunal. However if you are a flatmate and you have a dispute with another tenant in the same flat, then you can’t get advice from the Tenancy Tribunal, you may have to resort to the Disputes Tribunal instead. An initial talk with your local Citizens Advice Bureau or Community Law Office might be useful to understand your rights and how best to resolve your situation.
Come and talk to a Financial Mentor! They offer free and confidential advice. Getting a Money Plan in place will help you reach your financial goals.