SFH - Multiple Roomates

[Ricardo R.]

Hi everyone. I'm currently attempting to rent a 3bd/2.5 bath SFH. I have a group of 4 individuals which all know each other (2 couples) wanting to rent the home. Collectively their income is 5.4x's the rent, however individually neither make my 2.5'x income cutoff. For those of you that have experience or knowledge in renting to multiple non-family tenants could you point out some issues I need to address, in all aspects i.e. lease, rent, etc.

Any input would be appreciated.

[Thomas S.]

Make sure you receive only one check for the entire rent. They can work out the arrangement between them but what you do not want to do is accept half from each. Same applies to all money collected, last month, security etc. When one couple leaves you retain all deposits in full and the couples work out the compensation amoung themselves.

It must be made clear that is one couple leaves, which will defiantly happen, you still require full payment from whom ever remains.

You need to be very clear regarding giving notice to vacate as the likely hood is these tenants will break their lease. Have they lived together as a group before, what was the report from their previous landlord(s). To insure open communication I would only offer a M2M lease. It will work far better in a case such as this.

If you have any other qualified applicants I would pass on this group or keep looking. They are high risk and not reliable, arrangement such as this are temporary at best.