House Hacking Lease Agreements

[Alexis Garcia]

Hi all! I just started my house hacking journey with the purchase of my first property - 4 bed/2 bath. I am going to be living in one of the bedrooms and renting out the others. Excited but nerve wrecking at the same time. One of the main concerns that I have is regarding the use of an appropriate lease agreement with each of my tenants that I'll be having. I've seen the Texas standard lease agreement for a landlord/tenant relationship, but it does not really fit my house hacking situation since I'll be renting out a portion of my home and not the entire property. 

Any recommendations on house hacking specific lease agreements that I could apply with each of my tenants? How did you find a lease agreement that best suits your needs? I understand that BiggerPockets has some available leases for use for Pro members, but not sure if those available are house hacking friendly leases as well? 

Would love to hear thoughts from those who are currently or have previously been in my shoes. Any help with this would be greatly appreciated as I am still a newbie to the house hacking venture. Thanks!

 

[Hamp Lee III]

There's a couple ways to go about it:

1. Rocket Lawyer or UpCounsel. You can go to these sites to help you draft a lease agreement specific to you. I've recently used UpCounsel to review a corporate lease agreement I purchased to ensure it covers everything I need.

2. Purchase one. Places like Etsy or even Fiverr will have vendors providing the documents or their services.

3. UpCounsel. I would tell you to ensure you have a lawyer quickly review the document. Though you might spend a couple hundred dollars as it's cheaper for them to review a document than create one, you'll know you're covered legally.

I hope this helps.

I wish you all the best.