Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
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 over 2 years ago on . Most recent reply

User Stats

27
Posts
13
Votes
Jarreau Jackson
  • Rental Property Investor
  • Atlanta, GA
13
Votes |
27
Posts

Review &Feedback on Househack/ Rent by the Room Lease Agreement

Jarreau Jackson
  • Rental Property Investor
  • Atlanta, GA
Posted

Hello BP Community!

Strange request - I finished drafting a Lease Agreement (See Attached below) to rent out vacant rooms in my house and seek input on it.  I'd appreciate feedback and questions for clarification.  There are some nuances that I should mention:

1. I utilized 2-3 template agreements to individualize and curate this one for my needs

2. I was encouraged to use "Member" (vs. Tenant) and "Subscription" (vs. Rent) from a resource who shared a rent by the room agreement used in CA.

3. Property is a 4bd x 2ba SFH in Atlanta, GA (my primary)

4. This is my first house hack and I will be a first-time landlord

5. House has no furniture and I am seeking month-month (MTR) tenants

Questions:

- What should I include that I have not?

- What should I remove to better set me up for success?

- Are there negative implications of using Tenant and Rent vs. Member and Subscription? Or am I setting myself up well the way I have it?

- Is my strategy for handling utilities the best option?

Thanks for any input! Once it is buttoned up I'd be more than happy to share it with others.  I am also open to anyone sharing an agreement they currently have for the same purpose!

Thank you,

Jarreau

Most Popular Reply

User Stats

6,029
Posts
5,075
Votes
John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
5,075
Votes |
6,029
Posts
John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
Replied

@Jarreau Jackson I feel like this kind of document would be better run by an attorney than by the forum. The main issues with these types of agreements comes in worst case scenarios. Let's say you have to go to court to evict a roommate and it takes a few months to get rid of the person. These are the types of scenarios where you are likely to hire an attorney, so why not have an attorney review this before you dive in? 

  • John Warren
  • Loading replies...