I have a very good condition (full gut renovation 5 yrs ago) single family house (4br/2ba) in a prime area of the west coast. I was in a hurry when originally renting and ended up renting the house to 3 young professional friends who all kept the house in great shape over the last 2 years.
Fast forward to now, 2 of the 3 tenants are wanting to end the lease at the end of the term and not renew, while the remaining 1 wants to stay and find 1 new roommate to share the house with (so there would be 2 roommates at this 1 house).
The tenant who wants to stay has been my main point of contact over the last two years and has been a really great tenant.
.....question I have is.....do I want to not renew, and instead find a single family to rent to so I don't have to deal with multiple people moving in/out in the future and/or have to deal with other roommate situation problems, or should I allow this tenant to renew? Anybody have experience with this type of situation?
I would renew as long as he will continue to be the point person and as long as he submits the entire rent. Meaning the roommate has to pay him instead of you needing to ask for half rent from both of them. Also this is conditional on the future roommate passing a background check. As long as you are only dealing with one person and one rent check, it should not be more complicated than dealing with a family.