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Updated about 2 years ago on . Most recent reply

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27
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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

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6,015
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John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
5,055
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6,015
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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
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