I am talking with potential renters about my 3 bedrooms home. It is 3 family members, they will each have theirs own bedroom. Do they all sign a separate lease agreement? I will prefer having only one person responsible and maybe the other 2 as co signer?
Any advice or ideas?
You put them all on one lease and make sure it holds them jointly and severably liable.
Download your landlord tenant laws for your state..
Each person that's over age of 18 is listed on lease as tenant.. all equally responsible for rent. List all on the same lease and all must pay for application fees and be screened. The income for the house is basically the combination of the 3 persons together.. so separately they might not qualify,, but together their monthly income is over the 2 or 3 times the monthly rent per month.. whatever you had set for that.
Any one under age of 18 is listed as ... Name.. date of birth... minor...
Any children are occupants.. so 3 adults and 1 child is 4 people.. so if your occupancy is set for 3 people the child would make them over occupancy and they would not qualify for the house.
Set occupancy level and make sure they know they can not add another person to lease unless someone would move out and that the new person would have to be screened and qualify
CO signers make no sense in this..
Great! thanks a lot