Student Rentals
I am about to aquire a home in a area which has a heavy population of student renters. I have no problem with renting to teh students and understand teh damage, etc that can happen. My question is how do you have them , and their parents, sign the lease. Is each student responsible for 1/4th of the rent, or is each responsible for the entire amount? Any feedback would be appreciated.
hello
i have a property in philly that does very well. In the years i have had it i have all ways set one price per month and then set a limit on the amount of students allowed..... from that i have all student that will occupy sign one lease. So that if there is one student that falls off during the lease ......the students know the rent stays the same. a what you will find is .....the students will find someone to fill in the whole
I went to school there in 75 for a year and a half. Finished in Chapel Hill in 77. If you have 4 different tenants in one unit it may be hard to get all four parents to guarantee the rent. I have seen it done with just one parent with the child getting a roommate but not with four. I like the previous post about letting the group be responsible and find another mate if needed. Good to talk to a fellow tarhill. I think they are playing a FB game right now. I am going to go watch
Good LUCK and Thank You
Hope this helps some
Ted Jr