Real Estate Investor · San Mateo, CA · Member since 2016 · 1 post · 0 votes
Hi BiggerPockets, I'm excited to ask my first question:
I have a 3br condo I'm renting out to 3 tenants with a single lease. It's only been about 5 months in the 1 year lease, and one of the tenants got married and asked to add his wife to the existing lease. I'm pretty new to this and not sure what is the right way to go about adding her and whether it creates any implications down the road.
Do I ask them to renew the lease? Do I just add an addendum? Would love some advice.
Rental Property Investor · Seattle, WA · Member since 2013 · 2k+ posts · 1k+ votes
9y
You could do an addendum to either add them to the lease or to add them as an authorized occupant. You should have him fill out an information sheet and get a photo of his license either way. The advantage of adding another tenant is that it is another person financially responsible for rent that you can chase later if needed. The disadvantage is that it is one more person you need to notify/serve if things go south. I would probably make him an authorized occupant to keep things simple. He may want to be a tenant if he is trying to build rental history,