Questions concerning College Rentals

[William Donaldson]

I currently own and live in a 4BR/4BA condo in a college town in South Carolina. Right now the three other bedrooms are rented out to my friends until August ’14. Because I’ve been renting to my friends, I did not take the time to adjust the lease contract my dad uses for his rentals to reflect that each tenant is renting one bedroom/bath and sharing common areas (kitchen, living room, dining room, laundry room).

Does anyone know where I can find a lease contract that fits my current situation?

Other questions concerning college rentals:

-What paint do you find is the best to use for college rentals? What color(s) do you use for the common areas and bedrooms?

-How do you designate the bedroom to the tenant? Do you have a number on the bedroom door and specify it in the lease (Ex: 111 Main Street Apartment A2)?

-Do you allow college-aged renters to have pets? If so, how do you handle the pet fee/deposit?

-If I find, for example, two female tenants, they will almost certainly want to be paired with two other female tenants. How could I deny a prospective male tenant without violating federal law?

-Do you use a standardized guarantor form for the parents to sign? Do you run a credit check on the guarantors?

I appreciate any and all advice you can give. Thanks BP!