Collecting rent from multiple tenants in one unit

[Michael Greer]

Hello,

I'm have a 4 bedroom house for rent and several groups have come through to view the property.

3 non-related adults want to move in together.

If I chose them, how should I structure collecting the rent?

I use a software to collect rent for my other properties and have traditional families in them (Father- mom- kids) so I get one payment.

Do I ask the 3 adults to designate one person to pay one payment?

I dont want to get into a situation where 2 people say they paid their portion and the last guy doesn't.

This would leave me with 2 tenants that feel as though they honored their part and I'm out 1/3 of the rent.

I want to keep it simple and have no intent of chasing around anyone.

How should I set it up

Thanks in advance.

Mike

[Nathan Gesner]

Quote from @Michael Greer:

"Joint and several liability" is a term you need to be familiar with and it is an absolute must in your lease. All tenants are responsible for 100% of the rent and all terms and conditions.

Long story short, you shouldn't care how they split the rent or pay it. You want 100% of the rent in your account on or before the first day of the month, period. If Tenant A and Tenant B make partial payments and you're just waiting on Tenant C to pay the remaining $100, the lease is violated and you hit them with late fees, eviction, etc. 

One for all, and all for one!