Leases for student rentals

[Eric McCarty]

Hello

I will be renting to four students this summer and they are asking me if I can have four separate leases.  This way they are not liable for each others actions.  I do not know how to respond to this or how to counter their requests.  Does anyone have any recommendations for me on how to handle this?  What is standard practice for this type of "rent by the room" scenario.

Thanks!

[Dave Poeppelmeier]

If someone leaves, they have to tell you but the entire group on the lease is still responsible for paying the full rent. I also do not allow subletting. You want to specify that if someone leaves and another person wants to take their place, they need to go through your application process and have the "new" group sign a new lease. It's a lot of hassle, but I feel it protects you if the group doesn't pay as well as making sure you're not letting someone with a violent history, drug use, etc live in the house. It also goes without saying that you should have to parents co-sign on the lease as well.