The New Jersey roommate (room rental) agreement is the basis for a proper co-tenancy where multiple parties will be sharing a single residence. It allows the housemates to state the standard protocol that should be abided by prior to the new tenant’s occupancy. Roommates should specify the following aspects within the form:
- The portion of the rent that the new tenant is required to pay periodically.
- The amount that the new tenant will be required to pay for the security deposit.
- The percentage of the utilities the new tenant is obligated to cover.
- The term of the new tenant’s stay.
- Any additional terms and conditions concerning the rules of the household.
After establishing the abovementioned details and entering them into the instrument, it is required that all the roommates sign the document accordingly to demonstrate their acknowledgment.