House Hacking Leases

[Jeremy Jareckyj]

For those house hacking - rent by the room folks, do you sign a lease for those who are renting by the room even if you are living in the house? I'm curious to see how people approach this! 

[Matthew Kwan]

HI Jeremy, yes you would want to have a separate lease to each tenants if you are renting by the room. If you are looking to repeat the house hacking process by vacating your house every year and also being able to use the rental income, you would want to make sure to get the lease fully executed and lease term would be minimum 12months. The lender will be able to use the whatever the gross rent from the lease of 75%. As they use the 25% for vacancy factor.

@Albert Bui @Carlos Valencia