I have one rental that is primarily the tenants I have in there. Now that being said, things are treated a bit different than normal single family tenants.
First we charge about $100 more per room than single family in the area. We figure the rent price per room. We rent each room at $375 and that includes everything from power to internet. This is not conventional, but usually they are only in the unit for 10 months out of the year. rotation of primary on power and other utilities just seemed to be easier keeping it and adding it into the monthly rents.
We also are very picky on who is in the unit. I know the sports coaches at the local college and we have only had female athletes in the house. There has been no shortage of tenants by any mean.
We have them sign a year lease. They each pay part of the deposit. If one is late on payment the fee is the percentage of the entire unit rent (haven’t had a single late payment yet). There are rules about people staying more than certain amount of days and they can’t sublet, no questions asked. The contract also states that they are liable for the entire rent if one tenant moves out. They are aloud and encouraged to find a new tenant, but we screen and have the right to say no to that applicant.
We have had great success with the athletes because most are either on scholarship or their parents pay the bills. Feel free to message me with further questions.
