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Updated almost 3 years ago on . Most recent reply

User Stats

26
Posts
21
Votes
Greg Pawluk
  • New to Real Estate
  • Greater Raleigh
21
Votes |
26
Posts

Adding a roommate/co-tenant

Greg Pawluk
  • New to Real Estate
  • Greater Raleigh
Posted

I have been MIA for a bit between a newborn, work, going back to school.... so I appreciate any feedback.

My current rental is going smooth.  Tenant is awesome. Responsive, alert, timely.  

She requested to add her brother to lease as he needs a place to live.  He sent an application.  I would not rent to him alone, based on income/rent ratio and credit.  

How do I add him to lease, but eliminate the possibility of her leaving and him staying ever down the road.  AKA, if she goes, he goes.  Essentially he can live there with you, but everything else stays the same.


New to this managing thing. 


Thanks

Most Popular Reply

User Stats

747
Posts
831
Votes
Brandon Rush
  • Real Estate Agent
  • Portland, CT
831
Votes |
747
Posts
Brandon Rush
  • Real Estate Agent
  • Portland, CT
Replied

Hey Greg,

You could simply write your lease up so both tenants are equally responsible to follow the terms of the lease. If her brother appears to be some form of a risk, you could ask for an additional security deposit as well as raising the rent some. If your current tenant ask why, tell them that their brother alone would not qualify under your criteria so in order to mitigate the risk of taking him in, this needs to be done. 

Hope that helps and good luck!

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