Hacking w/ roommates- do you mention you are the owner??

[April M. Kimble]

Hello,

I hope all is well with everyone!

I am about to close on a 4b/2.5ba home and intend on bring in 2 roommates.  My question is for those who are successfully hacking SFHs by renting out individual rooms.  

1. Do you let your roommates know you own the house or do you have it set up to where they think you are a renter also?  

2. If the ladder, how did you go about getting started and maintaining this information?

Thanks in advance!

[Natalie Schanne]

April M. Kimble - you'll see forum posts on both sides of this issue. I let my roommate-tenants know because I was the owner counterparty on the lease. However, it's important to train roommates and keep specific boundaries. Late rent? Breaking lease rules? Damaging house? Getting unauthorized pet? You'll evict. Don't lower your standards when screening. Don't let anyone use a 'personal' relationship to override your better judgement.