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Updated over 7 years ago,
Single Family Student Rental - 1 tenat not paying
Made the huge mistake of listening to a sob story. Rent to 4 undergraduates with a lease that basically indicates "all for 1 run for all". Parent Co-signers. States that they are to pay with 1 check per month. 1st student sublet within 1 month. 2nd student sublet within 2nd month. 2nd sub-letter left school , told me he was working on getting job. Rest of tenants paid "their" portion. Late student paid but then it became habit; even left town to go back home to make money to pay back rent. Told students that they needed to go back to original student to get paid, not my responsibility. The others pay "their" portion but never pay extra to cover the entire rent. I told them they should move his stuff to basement and rent out room if they don't want to cover his portion. Didn't want to evict everyone during finals so I listened to sob story. The house account has been short for 4 months. Just gave them 30 day notice that I won't be renewing lease. They are more than the security deposit behind. Best way of getting back rent from multiple leasees and or cosigners in a sublet situation?
PS: Next time I am going to ask for 3 months of rent at a time and no sublets.