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Updated over 3 years ago,
Single lease w/ unrelated tenants vs. separate leases in SFH?
Hi I have a SFH I currently rent out. It's a 3Bed rowhome. I've always had it rented out to separate roommates (especially when I was househacking it as a tenant) on separate leases. Now I'm considering this as a hassle and just switch to one lease model.
How does one make that transition? Do I have to wait until all new tenants have turned over?
What are the advantages/disadvantages to doing single lease vs separate leases?
Does it protect me as a landlord more (in case of need to evict) or make me more vulnerable?
If one tenant wants to break lease do I get to pick the next tenant?
I just don't want to keep turning over each separate room every year to new tenants. Thanks!!