Do I Need An All New Lease Agreement, Residential Recovery

[Matthew Lindsey]

Hi,

I'm considering taking a route I haven't thought of before. I listed one of my SFH's for rent and had a company contact me wanting to do residential recovery/rehabilitation from the home. 2 people/Bedroom. The people would be on a program for drug rehabilitation, trying to stay clean ,get on track, and would have a full time manager in the home.

Anyways, I’m renovating another home right next to this one and they want it as well. I feel like if this goes well it could be a good thing but if it goes bad then it could get nasty. Normally I don’t accept tenants like this. I’m sure others have done this in the past with mixed results. I would just be the landlord not involved in any day to day things. The properties are in a C neighborhood already.

For those that have done this have you needed to create a whole new lease agreement or can you just have addendums added. I think it would be considered a Corporate lease since the lease would be in their business name. Any input would be appreciated. Thanks