How to list a shared unit

[Arteevie Burch]

Hello all. I recently purchased a duplex near a university and will most likely be renting to students. I’m not sure how to list the property. Should I list each room separately or list the whole apartment and let the tenants figure it out? Also is it normal to have a lease for each room? Thanks for any feedback in advance.

[Deb Sala]

@Arteevie Burch, you can do it either way. I do separate agreements and bundle the utilities wiIh a utility cap for overages. Kids are unbelievably disorganized and trying to get them to do everything they need to do to have cable, water, electricity and pay YOU on time is asking a lot! Take first, last and security if you can and try to get a parent or co-signer if needed. Forbid couples to live in rooms rented to singles and put in a $500 non refundable fee for unauthorized or even visiting pets. I am a stickler when it comes to these two things. Nothing will turn a good tenant into a miserable one faster than a mooching girlfriend/boyfriend or a neglected animal. I have been managing my son’s rental since 2012 and then bought another place myself to manage. I have heard every excuse in the book. The kids will agree to anything before they move in. Cover all your bases up front with policies on overnight guests (what is an occasional guest vs a rogue tenant), illegal activities (can you evict over underage drinking, marijuana-what evidence is needed?). If parking is an issue, you have the final say in all parking disputes. I think you will make more doing it separately but a lot of people opt for keeping it simple and getting co-signers for 3x rent vs income on the entire unit. I know my place stays in tip top shape vs my sons, which has really taken a lot of abuse renting out the entire place. In the final summation, its up to you and how hands on you want to be,