Do I need a lease for a roomate?

[Ephrem Bekere]

So I just recently bought a single family house to house hack and I will be sharing it with roommates. Do I have my roommates sign an official lease? If so, what kind of things should I add or watch out for. It will most likely be for college students, since I am in school myself. 

[Ian Kurela]

No matter how close the roommate may be I would suggest having everything in writing. It may be weird or off putting for the relationship, but it's better than having the entire agreement blow up in your face and lose the relationship and agreement