Do you know the best way to set up a multiple-tenant lease?
Most landlords are accustomed to leasing their rental property to a single family, but sometimes, they are presented with a roommate situation where a multiple-tenant lease is necessary. While the roommate concept is nothing new, especially in college towns, do you as a landlord know the best way to set up a lease with multiple tenants?
- One lease with all tenants’ names included
- One lease with the primary tenant taking responsibility
- A separate lease for each individual tenant
Answer: There is no wrong answer; however, it depends on the situation.
Most landlords write up a single lease with all tenant’s names on the lease. This ensures all tenants are equally responsible for all aspects of the
agreement. In some cases, only one primary tenant is considered on the lease and is willing to take total responsibility but that is a practice the Real Property Management franchise system does not endorse.
Considering a separate lease for each tenant would work better if you were leasing out individual rooms of the home, similar to a situation in a college town where this practice is more prominent. In this case, an individual lease with separate deposits works well so that one roommate can move in or out independently of the other roommates.
If multiple-tenant rentals are a common practice where your property is located, it is best to discuss the situation with your local Real Property Management office. They can provide their professional experience and guide you in the ideal solution for your rental property.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
