Frat House/Private Dorm/Boarding House
I’m looking for somebody that has experience renting a house of 10+ bedrooms on 1-year leases (or by semester). Essentially a privately owned dorm or fraternity/sorority house. I prefer to write my leases by the house so that if one of the tenants decides to bail, the others are still obligated to pay the full rent. With 10+ tenants I imagine the leases are usually written by the bedroom, but I'm open to hearing otherwise and how you've managed the logistics.
I currently own a four bedroom house that is a student rental. It at times has been rented to a frat. I’m not looking for warnings of renting to students, I’ve dealt with the damage and have filled a dumpster with their trash. I’m curious to hear about your experience with this specific setup… the potential pitfalls of renting a larger house by the bedroom, strategies to minimize damage and efficiently manage the property. Anybody that has a relationship or agreement with a Fraternity or Sorority Chapter and how that works.
I look forward to hearing your thoughts.