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Updated over 9 years ago on . Most recent reply

User Stats

40
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2
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John Buchanan
  • Investor
  • Falls Church, VA
2
Votes |
40
Posts

Two Tenants - one lease or separate leases?

John Buchanan
  • Investor
  • Falls Church, VA
Posted

I have two new tenants moving in, unrelated, purely roommates unknown largely to one another. (they found each other to rent the unit)

Should I have one lease, with both listed, or two separate leases?

thanks

Most Popular Reply

User Stats

23
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4
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Randy Beadles
  • Investor
  • River Falls, WI
4
Votes |
23
Posts
Randy Beadles
  • Investor
  • River Falls, WI
Replied

Not that unusual of a situation to me, I've had several properties rented to college students where roommates come and go over time. I used to do an individual lease with each tenant but learned that this causes me to be in the middle of a situation where one tenant is not performing an element of the lease. For example, if the leases say that each tenant must perform snow removal on the steps, I'd hear from the other tenants saying it was the first tenants turn, etc. I now put all tenants on one lease and make them equally responsible for all the elements of the lease. If any element is not adhered to then all tenants go. This way they figure it out themselves. And of course the usual background and reference checks are done on each tenant.

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