Boarding House - Lease Example? ---- College Student Sreening Process

[Jonathan H.]

My partner and I recently acquired a property very close to a local college and were wondering if anyone had an example lease agreement for a boarding room style house (on a room by room basis)?

Also, any tips for screening college students would be greatly appreciated. Many of the "rules of thumb" such as rent must equal 3x times monthly income is hard to come by with college students. We're currently considering the idea of requiring cosigners (such as parents or other relatives) to cover the rent if unpaid. We have also considered the idea of implementing money order/online banking "erentpayment.com" only stipulations to guarantee prompt payment - if not received within 3 days (plus late fees) we will evict immediately to inform other renters of our strict "No-BS Policy".