HouseHacking - Leases?

[Toni Baca]

Just bought my first house hack in Colorado! I am writing leases for 3 tenants and am wondering what I should change/add to the lease if anything? 

My plan is $800 month to month for the first two months then $775 if signing a 6 month or year lease. Utilities (Electric/Water are split 4 ways and Internet/Trash/Recycling are included.)

How do I structure the split of utilities?

Do I add a rental insurance clause? 

Anything else I should change since I'll be living on the property with the tenants?

Thanks for all the tips :) 

[Lia Martinez]

Thanks @Bill S., yes I do use a month-to-month room lease and have a set of House Policies for each new housemate in all of my coliving homes. We do not split utilities, that's too much work. There is enough work trying to manage a house of 5+ separate residents, no need to add more!

I just include internet and all utilities in their flat monthly rent rate. @Toni Baca Please don't hesitate to reach out to me if you would like a copy of any of my documentation or to chat about the benefits/pitfalls of this kind of rental arrangement, especially if your home is in Denver. My husband and I also live in one of my coliving homes.