Considering renting to 3 young professionals

[Roy Gutierrez]

I'm considering renting to 3 young professional guys, before I've only rented to families so what was wondering the logistics of this situation. All 3 will be on the lease, in terms of payment I would like to designate 1 person that I need to receive a check from? Or should I be collecting 3 checks for legal reasons? What else should I be watching out for?

Thanks!

[Rob Beland]

@Roy Gutierrez the term you are looking for is "Joint and Several". All tenants are responsible for the entire lease and the entire rent payment. If somebody moves out or somebody can't come up with their share of the rent it's up to them to sort out. You should request one check each month for the entire amount.