I'm in the process of purchasing a 5-bed, 3-bath home in Hesperia, CA, and I plan to rent it out by the room. My biggest challenge right now is finding a property management company that offers rent-by-the-room leasing services. Most companies I’ve found require all tenants to be on a single lease, which doesn’t fit my plan.
If anyone has recommendations for a PM company that allows individual room leases, I’d really appreciate it!
As a backup plan, if I have to go with a local PM company that only leases the entire home, could I use an addendum to add additional tenants to the existing lease while ensuring everything is legally structured?
@Mian Dingle how well have you thought this through?
5 strangers all living in a home that have to somehow get along.
Who gets blamed for and/or has to handle the following unique to nonfamily roommates:
1) Missing personal possessions? 2) Consuming the food stuff of others? 3) Parking issues? 4) Bathroom time limits? 5) Noisy guests? 6) Guests that almost live there? (boyfriends/girlfriends/family, etc) 7) Who cleans? 8) Lawn maintenance?
BTW: did you check local ordinances about boarding room rentals (which this would be)?
If you do find a PMC willing to do this, expect to pay quite a bit more for all the extra hassles!