Renting in a college town

[Matt Hintz]

Hello, 

I am looking to purchase a rental home in a college town and have thought about the idea of individual leases (I have seen this many times at apartments around the area). Instead of listing a 4 BR house for, let's say, $1,500 a month, I list it at $450 per bedroom and am able to collect a little higher income each month, while protecting the renter from paying extra, in case a roommate unexpectedly moved out. 

Seems like it could work, but wanted to get some feedback. Is this a common practice? Or is this only used by apartment complexes?

Thanks.