I'd imagine that it is quite location specific as well, so I'd suggest poking around a bit on HipCamp as if you were a camper, and see what's around you. 

Insurance is done with a carrier that allows for undergrads (usually Foremost).Re: legality, this is specific to the town.

I sent an email and he acknowledged that the listing has been removed from MLS and that the listing agreement has been terminated…Looking at the listing agreement contract, it states that the “contractual obligation shall remain in full effect unless terminated by mutual written consent by all parties”.Is there a specific form that needs to be filled out or is the email acknowledgment enough?

For month to month we require a 45 days notice to vacateWe are often contact by perspective tenants looking for specific time frame several months in advance but we typically do not know if the current occupant will be vacating or renewing. 

Your worst-case scenario (not specific to MA) would be having to sue to get them out as a holdover, but this is really reserved for worst-choice scenarios when owners choose the first renter or don't do any due diligence.

So why this specific triplex? 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

I'll see if I can track down a suitable NoD template that I can work with for those very specific instances.Thanks again,Steve

If you have specific questions about property management, I'll be happy to help!

But before we go through to put together something more specific on the property so he can see all the numbers.