Allowing home for multiple renters

By Tenant

Do you have a house that you are looking to rent out? Finding a family to rent your home out to; may prove to be hard as families nowadays opt to buy a house and settle in. Now your next best choice is to rent out your place per bed or per room, now in most states, the law allows 2 persons per room so if you have 4 rooms you can rent it out to 8 people. Now you ask, what are the upsides and downsides in renting to multiple tenants?
Pros:
• Since they pay rent individual, you can slightly increase the rent than when renting to a single family unit and still be considered affordable as they are sharing.
• You can almost be sure that somebody pays on time. So you always get rent every month.
• If you do evict somebody you still have other tenants so you still have income while looking for a replacement.
Cons:
• Multiple tenants equal multiple complaints.
• Maintenance costs doubles up.
• Stressful to collect rent from multiple persons.
So with these thoughts to consider and you decide to rent out to multiple tenants, here are some tips to ensure you don’t get into a lot of problems:
• Be sure to have the tenants sign separate lease agreements. That way the tenants cannot fight over each other when it comes down to who will pay for the back rents so that they will not be evicted altogether.
• Since they are not really blood related you can ask them their security deposit individually. This will be very convenient for you by the time the tenant moves out since you already have separate security deposits to give back or deduct from for any major damages.
• Specifically include in your lease the tenant’s individual responsibilities when it comes to damages and repairs. Since there are multiple tenants inside your apartment it is sometimes difficult to pin point who is responsible for the damages and who must pay for it.

Edited on: Saturday, April 6th, 2013 1:17 am

15 Responses to “Allowing home for multiple renters”

My response: (We welcome stories, examples, explanations, answers and a touch of your personality)
 

Viva

April 6th, 2013 1:20 am

I have been renting an apartment for so long that I experienced this kind of issue and it is really very stressful when it comes to paying rent most especially if your roommate will not pay and ask you to pay in their behalf.


Ron

April 6th, 2013 10:40 am

Having a roommate may sound good but it is not really.


Marc

April 6th, 2013 8:00 pm

I love my privacy so I will never live in a house with multiple people I really do not know.


Melba

April 7th, 2013 5:20 am

Multiple tenants mean multiple incomes. LOL


Pearly

April 7th, 2013 2:40 pm

Even though having multiple tenants means having multiple incomes


Salina

April 8th, 2013 12:00 am

I have a roommate and he is a real pain


Armandina

April 8th, 2013 9:20 am

I have been in this business for quite some time now and it is really stressful.


Viva

April 8th, 2013 6:40 pm

Why would you rent with multiple people when you want to have your own privacy?


Jeanice

April 9th, 2013 4:00 am

Is it legal for the landlord to draft separate lease for every tenant?


Susanne

April 9th, 2013 1:20 pm

My landlord is demanding us to pay for the repairs of the apartment which was made by one of the other occupants in the apartment. Does he have the right to do that?


Willie

April 9th, 2013 10:40 pm

Can my landlord evict me if my roommate can’t pay his rent?


Lois

April 10th, 2013 8:00 am

Is there any protection to other tenants from back rents of their roommate?


Michael

April 10th, 2013 5:20 pm

If you can stand living with a complete stranger than you can live with multiple people.


Nolan

April 11th, 2013 2:40 am

I am trying to find an apartment to rent with roommates since I cannot afford to pay for the whole apartment all by myself. Any suggestions?


Herman

April 11th, 2013 12:00 pm

Is it cheaper to rent with roommates or all by yourself in one apartment?


Close


Yes, the RPA® Can Help You!

Filing an official complaint is the nation's fastest way to solve tenant problems.

Not Ready? Learn more...

Complaint Filling Deadline  Tips/Suggestion

Need Help Filing Your Complaint?

Agents Available Mon- Fri 10am to 10pm

Recently Resolved Complaints:

See how the Nation's Rental Authority has helped thousands of tenants already!

Ask Question:

Post a new question to the RPA Tenants rights forum.

You Have Tenant Rights.
Recently Posted Questions:

Over 4,000 questions have been asked by tenants including these new posts:

Tenant Rights Categories

Popular categories about renters rights.