Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

Account Closed
  • Aspen, CO
3
Votes |
14
Posts

How to deal with roomates

Account Closed
  • Aspen, CO
Posted

Good Morning, 

I am talking with potential renters about my 3 bedrooms home. It is 3 family members, they will each have theirs own bedroom. Do they all sign a separate lease agreement? I will prefer having only one person responsible and maybe the other 2 as co signer? 

Any advice or ideas? 

Thank you

Most Popular Reply

User Stats

2,667
Posts
1,760
Votes
Deanna McCormick
  • Minneapolis, MN
1,760
Votes |
2,667
Posts
Deanna McCormick
  • Minneapolis, MN
Replied

Download your landlord tenant laws for your state..

Each person that's over age of 18 is listed on lease as tenant.. all equally responsible for rent. List all on the same lease and all must pay for application fees and be screened. The income for the house is basically the combination of the 3 persons together.. so separately they might not qualify,, but together their monthly income is over the 2 or 3 times the monthly rent per month.. whatever you had set for that.

Any one under age of 18 is listed as ... Name.. date of birth... minor...

Any children are occupants.. so 3 adults and 1 child is 4 people.. so if your occupancy is set for 3 people the child would make them over occupancy and they would not qualify for the house.

Set occupancy level and make sure they know they can not add another person to lease unless someone would move out and that the new person would have to be screened and qualify

CO signers make no sense in this.. 

Loading replies...