Thoughts on renting to roommates in a family home?

[Shannon Frazier]

I received a 30 day notice from my property manager stating that my current tenants will be moving out at the end of the month. They went on further to let me know that the current renter referred a set of people who want to be roommates in my rental home. This home has never been considered a roommate friendly property. In the 10 years that I have owned it I have only rented to families.

I feel somewhat uncomfortable with the fact of multiple people being responsible for the rent with no true tie to each other. Should I be concerned about default on ability to pay rent in a timely manner or follow through arguments?

Any and all comments are appreciated.

[Sharlene Mulchandani]

@Shannon Frazier I don't think renting to roommates will be an issue at all. My only suggestions would be to see that they are signing a single lease, where they are joint and severally liable - that way all roommates are equally responsible and liable, for all the lease terms. I would also suggest that your property manager collect one single check for their rent each month and that their security deposits are not split up.