Registered: 1194315608 Posts: 33
Reply with quote
hi thanks for taking my questionp.s. I've found a tenant using craigslist!! it really works. Thanks to those who suggested that website.
I am a new landlord. I recently signed a lease with two ROOMMATES to rent out my co op apartment. I am not sure how renting to roommates works. What happens if one of the roommates decides to move out for example? Are there any other special consideration that i should keep in mind when dealing with roommates as a landlord? thank you __________________ adam whitewater
Registered: 1169270040 Posts: 3,819
Reply with quote
I hope that you have one lease that covers both roommates and holds them both jointly and severally liable for all obligations under the lease. (Never write seperate leases for each roommate or allow each to pay only half of the rent. If one leaves, the other can stay by only paying their half. You get half the rent but the remaining roommate still gets to stay. Bad idea!)
If your lease makes them jointly and severally liable, if one wants to move out, that tenant is still responsible for the rent. Just as much as the one who is staying at the unit. If one wants to move out, do not waive any rights or remove him from the lease. Let him know that both people on the lease are still liable and can be pursued in court for any monies owed throughout the lease term. If he wants out bad enough, he can find a suitable replacement tenant to take over for him on the lease. Screen the replacement well and be sure he qualifies and signs the lease before releasing the first roommate. The remaining roommate should still pay the full rent amount after the first leaves. He can sue the departing roommate in small claims for the rent that the departing one owes. Additionally, accept only one check from the two of them. Let them work it out who writes the check or pays you. They both owe the whole amount. Don't accept 2 half payments. (See above) When they move out, write the deposit check to both jointly and send it to one roommate, along with a letter to the other saying it has been mailed to the other's address. This way they both have to sign the deposit check before cashing it. If they argue over it, let them work it out. Not your problem. This saves you the disagreements over one owing the other money. Good luck.