Prospective Residents Resources

Joint vs Individual Lease

What is the difference between a Joint Account and an Individual Account with Matchbox Residential?

In a Joint Account all people listed as a Tenant are equally and severally liable for performance of the lease and will be held liable for all payments due or damage to a property. In an Individual Account the individual is only liable for performance of their share of the lease and will only be held liable for their share of the payments but will still be jointly responsible for damage to the property, as we do not know who is ultimately responsible for damage in a shared home.