Posted on: 05th Dec, 2008 10:42 pm
I have a tenancy in common with a co-owner. A few years back I moved out and bought another house. In the meantime the other owner's sister moved in. We then decided to sell and ofcourse in this market it sat for 4 months and no offers. Now I lost my job and am concerned that I will deplete my remaining savings by paying 2 large mortgages.
The co-owner feels that she should be able to live there and I am responsible for finding a roommate for her. A roommate doesn't even come close to covering the overall cost and is hard to find for someone else. I finally convinced her to move out so that we can rent the entire condo which commands a much larger rent. Now she informed me that since she had to move out she doesn't feel that she should have to pay half of the loss associated with this rental. She will just pay a lower percentage. Do you think this is fair? Thanks for your responses.
The co-owner feels that she should be able to live there and I am responsible for finding a roommate for her. A roommate doesn't even come close to covering the overall cost and is hard to find for someone else. I finally convinced her to move out so that we can rent the entire condo which commands a much larger rent. Now she informed me that since she had to move out she doesn't feel that she should have to pay half of the loss associated with this rental. She will just pay a lower percentage. Do you think this is fair? Thanks for your responses.
Hi Guest
I don't think she is fair in doing so. You can convince her to pay half of the rent by considering the fact that you have lost your job. She should pay half of the rent. In case she does not agree to do that, then you will have to accept what she is saying.
Thanks.
I don't think she is fair in doing so. You can convince her to pay half of the rent by considering the fact that you have lost your job. She should pay half of the rent. In case she does not agree to do that, then you will have to accept what she is saying.
Thanks.
Thank you for your response. Let me add to the story. We had a 2 year agreement to pay 50/50. This has completed and both of us have been responsible for our parts. The only reason we are in this situation is because we can't sell. Meanwhile I when it was on the market I had no renter and had to augment the full half. I think she feels that since she now has to move out that I should pay all the loss but she is willing to pay a small part for example I pay 550 and she pays 250. But in this unforseen circumstance is it fair for 1 person to assume that they can just keep living in a condo even at the dire expense of the other person. Yes I moved out but neither of us ever thought we couldn't sell.
Hi Guest,
With the real estate market deteriorating in such a manner it's true that a large number of properties are not selling. I think you should convince the other person about this fact and make her understand that you are not responsible for the situation. I guess, if you make her understand that it was not your fault, she will be ready to pay half of the rent.
Thanks,
Jerry
With the real estate market deteriorating in such a manner it's true that a large number of properties are not selling. I think you should convince the other person about this fact and make her understand that you are not responsible for the situation. I guess, if you make her understand that it was not your fault, she will be ready to pay half of the rent.
Thanks,
Jerry