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All Forum Posts by: Shannon Frazier

Shannon Frazier has started 1 posts and replied 4 times.

Post: Thoughts on renting to roommates in a family home?

Shannon FrazierPosted
  • Rental Property Investor
  • Yorktown, VA
  • Posts 4
  • Votes 1

@Joe Splitrock, interesting. I was not aware a clause like this existed. I will most definitely delve into the laws for NC to see what the guidelines and restrictions are for roommates. Thanks for the heads up.

Post: Thoughts on renting to roommates in a family home?

Shannon FrazierPosted
  • Rental Property Investor
  • Yorktown, VA
  • Posts 4
  • Votes 1

@Sharlene Mulchandani, thank you for your recommendation, that would be a good way of mitigating potential “deserters” from the room mates and loss of rent payments

Post: Thoughts on renting to roommates in a family home?

Shannon FrazierPosted
  • Rental Property Investor
  • Yorktown, VA
  • Posts 4
  • Votes 1

@Brandon P. That’s is a good way to look at it. I’d have to discuss the amendment of the lease with my property manager.

Thank you so much for the insight

Post: Thoughts on renting to roommates in a family home?

Shannon FrazierPosted
  • Rental Property Investor
  • Yorktown, VA
  • Posts 4
  • Votes 1

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.