I would not trust her and as suggested seek assistance through your state landlord tenant regulations if they apply to home owners renting out rooms.

The contract/lease can be any standard lease for your state so that it reflects your area's laws, and then you can just add to it as you see fit to reflect things like how utilities are split, parking, etc.

Consult with your CPA for further assistance. 

The end result is the Mission Beach RE is not as profitable once it cannot be used as a STR and this should be reflected in the price of the RE. 

We are investors ourselves, my husband takes care of the purchase side and I take care of the management (or assist in self-management for those who choose to manage  themselves) side for our investors.   

Hi Shelley, for immediate assistance, please contact our support.https://www.biggerpockets.com/contactThanks.

I'll assist in any way I can. 

In regards to the rental market here - I've not had any issues with renting my properties - you just need to make sure to buy in an area where the price makes sense... and/or an area that the price reflects the desire to live in that area.

@Marianne Lopez-HenthornIf you are starting any partnership, corporation or venture with multiple individuals, you should have an experienced attorney assist you with drawing up any shareowner/partner agreement and/or articles of incorporation.   

I would ask your new management company what documents they will require from your old manager to assist in their transition.