1st property-do I rent by the room or by the unit? (college town)

[Coco Zuniga]

Hi!  I'm marketing my 1st rental and kind of freaking out!!!  I've had about 15 people contact me in the last 48 hours or so (woo hoo!), but I got a question tonight that I'm not sure how to answer.  I emailed her back and told her I would check with my "partner."  (ENTER BP--YOU ALL ARE MY PARTNERS!!!)

Anywho, not sure about renting out by the room.  (that was her question--her daughter is looking for 1 room).  How do you structure it?  Do all the tenants sign the same lease?  Do you get a parent to co-sign?  Do they all pay me individually?   I've thought a lot about this but I didn't think I would get any inquiries because I'm marketing it more towards newly married couples, small families, etc (not stating that in my advertising of course!)

Any help or advice would be greatly appreciated!!!

Coco