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Michael Ginter
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Room rental agreement, or single family rental?

Michael Ginter
Posted Nov 6 2023, 09:07

I am wanting to lease 4 bedrooms to one person. I will maintain one bedroom and the garage for myself with shared living spaces/bathrooms/etc.

Do I have to make a separate lease for each bedroom or can I include all 4 bedrooms on one lease since its all the same renter?


Struggling with what structure I should be using.

Any insight is appreciated.

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Tanner Pile
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Replied Nov 6 2023, 09:38

@Michael Ginter

I would put all the bedrooms on one lease. It will make it easier and save time. I would also clarify what each room is and any common spaces and that you as the landlord will be occupying a room. 

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Michael Ginter
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Michael Ginter
Replied Nov 6 2023, 10:08

Thanks for the insight.

you mean all the bedrooms except the one I'm occupying correct?

I am clearly indicating in the additional clauses which rooms are expressly occupied by me...

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Tanner Pile's profile image
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Tanner Pile
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Replied Nov 6 2023, 11:34
Quote from @Michael Ginter:

Thanks for the insight.

you mean all the bedrooms except the one I'm occupying correct?

I am clearly indicating in the additional clauses which rooms are expressly occupied by me...

Yep!
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Stephanie Meeks
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Replied Nov 6 2023, 12:06

I agree with @Tanner Pile. My question though is why do you want to lease 4 bedrooms to just one person? You can most likely make more money if you rent out each bedroom individually to different people. (If it's more for personal reasons though and not so much for making money, then that makes sense. )

But yes, just as Tanner said earlier I would keep it all on one lease while clarifying which rooms are for sole use by the tenant and which ones are common areas. If you don't already have a lease in mind, I'd check out the landlord forms provided by BP for your state. Reread it carefully and make appropriate adjustments.

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Michael Baum
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Replied Nov 6 2023, 14:26

Yeah @Michael Ginter, why?

Why do they want 4 rooms? What are you charging them?

This has a lot of red flags on it IMHO.

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Sarah Kensinger
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Replied Nov 7 2023, 13:42

This would not go well as a STR! Guests would not be comfortable having the host right in the home with them. Maybe you should look into Padsplit and rent the rooms for several months or for a year at a time.

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Zach Edelman
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Replied Nov 8 2023, 13:39

Be careful regarding financing with rent by the room. Not sure what your plans are but a lot of lenders consider properties that are utilized as rent by the room as ineligible assets.