Individual agreements for houae share

Tmurf

I have a rental property and 3 different people want to rent out rooms in the house but want to have seperate rental agreements with me. Can this be done rather then just one of their names on the lease.

the_syco

It means that if one stops paying rent, the other two wouldn't be liable for said rent, as i'ts per room, and not per house.

Look at renting the room only to them, as this may give them less responsibilities, but also rights.

Tmurf

Sorry yes that is what they are suggesting and if one moves out i will find a replacement tenent. Could i use a similar rent agreement with each tenent for a room as used for thd whole house.
Also i presume this has to be registered with the prtb.also how do i fix room rent amount or would it have to go by house rent
Thanks

antoinolachtnai

Tmurf wrote: »

Sorry yes that is what they are suggesting and if one moves out i will find a replacement tenent. Could i use a similar rent agreement with each tenent for a room as used for thd whole house.
Also i presume this has to be registered with the prtb.also how do i fix room rent amount or would it have to go by house rent
Thanks

You need to charge more if you are doing it this way. It’s a lot more work for you and you will have more void periods. There is also more risk.

Moomoomacshoe

I have been in shared accommodation where we each pay separately to Ll but are all on one lease. One person moves out we found a replacement and the Ll okayed it..again they paid directly to Ll.
Not sure if this helps.

Tmurf

Thanks
How does registering the seperate leades work ??

antoinolachtnai

Very common, this is only way I’ve ever rented a room. Paying for my room individually. I’ve never had a lease or any type of agreement thought just word of mouth.

Best way to rent a place for a LL too imo.

antoinolachtnai wrote: »

You need to charge more if you are doing it this way. It’s a lot more work for you and you will have more void periods. There is also more risk.

I’d charge more beside you can but I’d argue the opposite on the other points. Much lower risk and less chance of void periods imo.

antoinolachtnai

Anderson Whispering Sax wrote: »

Very common, this is only way I’ve ever rented a room. Paying for my room individually. I’ve never had a lease or any type of agreement thought just word of mouth.

Best way to rent a place for a LL too imo.



I’d charge more beside you can but I’d argue the opposite on the other points. Much lower risk and less chance of void periods imo.

If a tenant leaves you may find it difficult to put in a new tenant. The existing tenants may make it difficult. You then need to manage the property more intensively. If there are disputes between tenants the landlord is much more likely to be gotten involved. This is all risk. The cost of all this isn’t just money. It’s your time. If you have the time, you can certainly make it work.

Tmurf

Thanks for all the replies.

Question.
Do i register 3 different leases with the prtb or how do i control it

skooterblue2

In my experience you are better renting to a group. They are more likely to have their crap together and stick together as a unit.

detoxkid

Re rtb, stick all their names down when you register the property. You will need to adjust if one moves out but afaik you can do this without a charge. Check with them to be sure