Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago on .

User Stats

19
Posts
0
Votes
Tim Dastis
  • Cherry Hill, NJ
0
Votes |
19
Posts

Lease Structuring Around Parking Ordinance

Tim Dastis
  • Cherry Hill, NJ
Posted

I own a 4 bedroom home in a college town that I am looking to rent next year for the 2016 fall semester, so I have some time here.

The town has an ordinance stating that every tenant age 17+ needs to have a parking spot on the property.  No street parking is permitted.  Ideally I want to rent to 4 people, but only have 3 "legal" spots.  You can probably fit 4 cars easily on the property's driveway but according to the town's definition the 4th spot is too small.  There is a big fight going on with this between the township and the landlords but there is no resolution yet. 

I have talked to some other landlords but I haven't gotten a clear answer yet - I definitely plan to consult an attourney to draft this correctly but I want to get BP's opinion.  I want to draft a lease for 3 occupants, report this to the township, and then ammend the lease to add the 4th person.  Is this possible, legal, moral?  If so, please provide me with some guidance, thanks!