SFH being rented out to several people

[Brian Wolf]

Hello all,

I have been renting a SFH (3 Bed 2 bath) for 1100 in WV for the past 3 years. I currently Live in SC so I am using a PM to take care of the property. We recently just had a family move out and we are currently looking for a new tenant. Our PM says that there are two separate groups of 3 guys each looking at the house. I asked the PM if we were going to charge more because in my mind three separate people are going to be living in the house not a single family. She acted like I was crazy to think that we would charge more. Seems like I am accepting more risk and therefor I should be getting more profit. Am I looking at this incorrectly? Thanks for any advice.

[Jeff Keller]

If you make all tenants jointly responsible for the rent, if one does not pay, the other two still have to pay all of what is due. You don't want to become a referee which can happen if you find each of three tenants. Works well for managing college students as renters.

One student returned to France owing money. His "roommates" made certain he paid.