General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Renting Rooms vs Entire Apartment
Looking for insight here on this dilemma. I am owner occupant in a 4br condo. I had been renting out rooms with each person having their own lease. I have 1 current tenant. Their lease ends on 8/31, and they have the option to resign or become TAW.
The problem comes in because I am moving since life (career changes and aging parent). I needed help finding new tenants for the three rooms (including my own) that are vacant. I decided to work with a realtor to save myself time and stress. I asked him if it were possible to give my current tenant the option of resigning, and telling them that they would no longer be on an individual lease, but rather them and the new tenants would all be on one lease. He told me that it wouldn't be possible, and that I either had to rent the rooms out individually or essentially kick out my current tenant to rent out the entire apartment. Boston based folks, does this ring true to you at all?
Please note I haven't signed a Right to Lease Agreement with this realtor, so I am not bound to use his services. I am just curious if he is correct and if you any advice to spare.