Sharing rent with roommates can be a great way to save money, but there's a hidden risk you NEED to know about: Joint and Several Liability (J&S L).

This means YOU and your roommates are EACH 100% responsible for the ENTIRE rent, regardless of how you split it amongst yourselves.

Here's the scenario: John & Chris rent a place. John stops paying his share. Chris thinks, "John's problem, not mine!"

WRONG! The landlord can come after BOTH John and Chris for the full amount. Landlords don't get involved in roommate disputes. They just want their rent. Period.

The takeaway? Choose your roommates wisely!

They're your ride or die when it comes to rent.

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