So who should be on a lease?

Question

So after reading "Rental Property Investing" five times and reading "Managing Rental Properties" twice, we have purchased two homes at auctions and are getting them rent ready.  We are also currently working on writing our first lease agreement, our question is if we include all of the tenant's children/relatives etc... age 18 and older that will be living in the home on the lease and if the mother or father leaves, moves out, etc... will all of the remaining adults on the lease be fully and legally responsible to fulfill the remaining months on the lease?  We are located in Ohio.  Thank you.

Deanna McCormick · Answer

Anyone over the age of 18 signs the lease agreement and listed as responsible tenant..

Any minor is listed on lease as minor, date of birth after their name.

You have the right to limit the number of occupants for your home.. this includes all people of all ages, so

Collectively all adults over age of 18 are screened and collectively all should meet the income to qualify for your rental, and at least 1 of them should meet the credit score you set.

Michele Fischer · Answer

People under 18 are named as authorized occupants.  People over 18 can be named on the lease (as tenants) or listed as authorized occupants.  We are indifferent and let the applicants decide.  The advantage f having everyone on the lease is that there are more people financially responsible and to go after if things go bad.  The disadvantage is that you have more people you have to serve and deal with.  If there is someone with low income and/or low income, better to have them as authorized occupant.  Regardless, if we have more than one tenant we name a primary tenant in the agreement.  It is generally the strongest applicant and who we will deal most closely with.  As people move out, it is up to them whether they want to move out, keep it with less people, or search for another approved roommate.  But they are responsible to pay or vacate, in theory.

Alex Deacon · Answer

@Tracy Thompson Anyone who is financially the lease and is financially responsible will be responsible for the entire term of the lease regardless if they move out or not. You would need to approve an amended lease removing them. I would suggest not writing a lease. use ones that are legitimate, plain language leases that are endorsed by the local Magistrates and the association of realtors. You can always add a rules and regulations addendum but it has to be written in plain language and with reasonable terms for it to be enforceable.