6 week/non-traditional lease term limits for student rotations?

3 Replies

Hello,

I am looking at getting into REI through house hacking. One thing we are considering is renting spare bedroom(s) to students on their rotations. These are typically 6 weeks for the field we are looking at, and we think it would be interesting to do. It certainly would be a good way to get our feet wet in renting before we commit to a long term lease. We have a solid network within this field and would likely be able to get some tenants. Our only concern is with the lease term. Our area in Vegas does not allow airbnb or "short-term" rentals, although this appears to mean 30 days or less. I have neither been a landlord, nor have I ever tried to draw up a lease agreement. Before I dive into that research, does anyone know if there are any issues with a 6 week lease?

You are usually fine as long as it is more than 30 days at a time. I recommend contacting an attorney to ensure, see if there are any city/county/state rules that you haven't considered, and you can get a local lease from them.

@Matthew Daly how did this work out for you? Have a family friend coming in to town for a 6 week rotation and we’re not sure if we need to do a lease and background check. Wondering what you ended up doing for your rotation renters? Thank you for any insight!