Some tenants leaving & the remaining wants to bring new tenant in

[Chad Lundquist]

BP Family,

I have a property that we rented out last July to four (4) friends, but just recently three (3) of them moved out and the remaining one has found two (2) other friends (engaged couple) to move in, but wants to have me list it for a fourth room mate and I'm wondering if anyone has had this come up in the past. I'm not feeling comfortable about this which is why I'm asking on the Forums for some advice.

Thanks in advance for any advice.

Chad

[Nathan Gesner]

Quote from @Chad Lundquist:

BP Family,

I have a property that we rented out last July to four (4) friends, but just recently three (3) of them moved out and the remaining one has found two (2) other friends (engaged couple) to move in, but wants to have me list it for a fourth room mate and I'm wondering if anyone has had this come up in the past. I'm not feeling comfortable about this which is why I'm asking on the Forums for some advice.

Thanks in advance for any advice.

Chad

Think about all the effort you're putting into this. People coming and going, no relationship to tie them together, and you're probably renting to younger people that are more likely to have problems, cause problems, trade/lose jobs, start a relationship and move away or add someone to the rental, etc. You're opening yourself up to a lot of problems.

My policy is a "You Plus Two" policy. If three or more unrelated (by blood or marriage) people want to rent together, each individual must make a minimum of 2x the rent and have a credit score over 700. This prevents four people making $14 an hour at McDonalds from pooling their money and turning my house into an animal house or a revolving door.

Terminate this lease and start fresh. If you want to learn more about a "You Plus Two" policy and develop your own, look at Fort Collins, Colorado: https://www.fcgov.com/neighbor...