Joint-Tenancies Explained
Tenancy 101
Whenever a room or a property as a whole is rented for a period of time by one or multiple people, this renting period is encapsulated into a tenancy. From the tenancy, will stem multiple files and processes related to it: a tenancy agreement, an inventory, a rent schedule, etc…
A tenancy is defined by its period, price, deposit scheme…and multiple other details.
A tenancy can be created from a room page, or by the creation of an onboarding.
Joint Tenancies Management
A tenancy can have multiple tenants inside it. Each tenant will have their individual account: hence access to their own My COHO dashboard, their own COHO messenger, their own notifications settings…
This also unlocks the possibility to gather application form answers for each tenant of the property, do the referencing for each tenant, and have all the tenants sign the tenancy agreement.
Add Multiple Tenants Into a Tenancy
Upon onboarding/tenancy creation
When creating a tenancy, from the onboarding creation form, or the tenancy creation form, you will see a button saying “Add another tenant”. Click on it to be able to add the details of how many more tenants you need inside that tenancy.
On each tenant, you can also select a tenant already registered in your system by clicking on the button “Select existing”.
You also have the ability to remove any tenant if you decide you actually don’t need them while creating the tenancy/onboarding.
On each tenant, you can also select a tenant already registered in your system by clicking on the button “Select existing”.
You also have the ability to remove any tenant if you decide you actually don’t need them while creating the tenancy/onboarding.
If this is during an onboarding creation, all tenants will be sent their invite link by default, but if it’s from a tenancy creation, you will have to specify if you want the invites to be sent or not.
Once the tenancy is created
If you need to add a tenant into a tenancy after its creation, head to the tenancy page. On the page, scroll down to the tenants summary. There, you will see a button “+ Add tenant” to add a tenant to the tenancy.
Note that if you’re doing an onboarding, some of the steps might already be completed, hence the data will not be gathered for this tenant.
Delete a tenant form a tenancy
For this, you will have to contact support - support@coho.life
Tenancy Agreement for Joint Tenancies
All tenants can sign individually and be represented in the tenancy agreement.
Merge Fields
Refer to the Merge Fields Guide to know how to show dynamic data about each tenant onto the tenancy agreement, by using a Microsoft Word document (.docx) - which can be stored as a Tenancy Agreement Template.
Signature
In the case of an COHO eSign tenancy agreement, or Wet Signature tenancy agreement, the agreement will be shared to all tenants and each one of them will have to sign the agreement before the manager confirms it.
The manager and each of the tenants will have visibility on who has signed yet or not.
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