General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago on . Most recent reply
Lease Addendums for this situation?
Hi, I'm a first time REI who just recently bought a multi family in Boston, MA.
I listed a vacant 2 bed, 1 bath unit for $2,450 ($1,225 per room). I have one strong candidate who is really interested and wants to move in ASAP. Initially he was interested in one room, however the second bedroom has not been filled yet. It’s been difficult finding another qualified candidate these two weeks. He moved for a new job and is currently on extended stay, so he wants to secure the place immediately.
Fortunately for me, he's willing to pay the price for the entire apartment while we search for a roommate. First, last, half deposit. His take home income is more than 2x rent (apartment).
Any thoughts or concerns about this arrangement? Is this a sublease situation? What addendums should I include in the lease? All guidance is really appreciated, thank you!
Most Popular Reply
Quote from @Brenda Chen:
Update: he started his new job here in August 2022. This is the reference from his previous landlord.
"He was very punctual with the rent the whole time of his residency but his lease wasn't set to end until 3/31/23 but he left in August 2022 without paying the early termination fee and left the unit in bad condition."
I'm a REI from Boston as well so I want to chime in and give you some thoughts.
Reading the previous landlord's reference it got me a little concerned. It seems like he's not a good tenant, especially the part where he leaves the apt in bad condition and not honoring his end of bargain by paying an early termination fee.
And I suspect the only reason why he will be able to or even willing to pay for a 2 bed rent is because he will be subleasing the other bedroom or potentially charging a higher rent for the other bedroom to profit from it at your own expense.
If you are not too short on cash I suggest you to take your time to place a better tenant.
if you still decide to give him a try, make sure you do a thorough background and credit check on him and make sure you put a clause on the lease to prohibit subleasing or he needs to get your approval before subleasing the apt.
Wish you the best of luck!