As more younger generations decide to move into their own residential spaces, the higher the likelihood becomes for roommates to seek a property to rent together. Renting to roommates can significantly widen the pool of qualified tenants while also allowing a dual income to make a rental property more affordable.
However, when dealing with two different personalities instead of one, shared property responsibility, and living arrangements, it is important to bare two top things in mind.
Although the prospect of placing the rental property under just one person, it is important to remember every individual over 18 needs to be screened prior to signing the lease agreement. By screening all possible tenants, it will be easier to find qualified tenants with a verifiable income, rule-abiding behavior, and a positive rental history. Ensuring all tenants pass your screening criteria will decrease potential roommate conflicts or any rule-breaking tendencies.
Collect One Rent Check
The easiest and most effective way to enforce rent payments from all tenants is by collecting a single check for the total amount. Not only does this create less administrative work for you but it also ensures there are no discrepancies between rent payments. It also ensures any individual tenant financial problems will be taken care of amongst themselves, compared to you becoming involved.
At MGR, we are accustomed to handling all types of tenants from all situations. Let an MGR representative take care of your tenants, contact us today with any questions regarding roommate tenants.