Legal Question in Landlord & Tenant Law in Massachusetts
Real Estate-Tenant/Landlord
I purchased a two family home 16 years ago with a friend as ''tenants-in-common''. He took the top half of the house, and I took the bottom. Recently, he started renting his half of the house to tenants that sometimes act in an irresponsible manner. We've already had one slip and fall on the property due to their actions.
My question is, what are my rights/liabilities regarding the actions of his tenants, as we both own the house. Do I have a right to any say in the choosing of tenants? I don't want to end up paying an increase in liability insurance due to their behavior?
I have not shared any profits on the rental, so I don't want to have any liability.
Thanks.
2 Answers from Attorneys
Re: Real Estate-Tenant/Landlord
Generally, tenants in common are each entitled to an equal share of the rents collected, and are equally responsible for the costs of insurance, taxes, and other expenses. Because you both own the home, you are both liable for expenses and lawsuits and both equally entitled to rents collected.
Perhaps you should both consider the creation of a partnership agreement, which would clearly set out the expectations of the parties, such as who may choose tenants, who is responsible for repairs, who is entitled to the income from rents, among other things.
You may want to see an attorney and formalize this relationship before any further problems arise.
Re: Real Estate-Tenant/Landlord
Tenants in common are equally liable. You may wish to retain an attorney to convey the property into a trust to limit your liability.