Need advice about renting out a couple of rooms in my house?

I just bought a brand new townhome in a college town. I'm renting 2 of the rooms out and living in the master bedroom. What should I know before I do this? Should they sign a contract, leave a deposit, pay first months' rent? I'm clueless here. If I'm renting to friends, should they still sign a contract or will that ruin the friendship?





Thanks.Need advice about renting out a couple of rooms in my house?
I would have your renters sign rental agreements so that everything is spelled out and everyone knows what's expected. A rental agreement will actually help SAVE friendships and it keeps everything clear so that you don't have problems later with someone saying you didn't tell them something in the beginning.





Nolo.com is a great legal website that you can get good information about renter and tenant law relevant to your state. There are sites that have free legal forms that you can copy and paste to create your documents.Need advice about renting out a couple of rooms in my house?
Make sure you specify the TIME of day rent is due by....that way you aren't walking on egg shells at 9pm wondering if they are going to pay rent.....





Make sure you specify overnight guest limitations.....phone priveliges.....





Imagine rooming with your worst enemy....then jot everything down you expect to happen.....





I had a roommate who went grocery shopping w/out asking me and then presented me w/ half the bill.....no way....





Stupid stuff like.....who pays for the ketchup when it runs out....who buys the laundry soap.....





google your state and landlord/tenant laws so you don't put something in a lease that violates state law.....





A good way to keep most deadbeats away is to REQUIRE proof of renters' insurance prior to moving in....


The most practical thing is that your rent includes gas/electric/cable.....cuz of cell phones.....make sure your landline does NOT have long distance capabilities.....





I got hit w/ a brazilian party line bill - over $800 cuz the phone was in my name....
I would definetly have them sign a lease or some sort of written agreement. At the very least you could make it month to month and show the amount of rent due, when it is due, when it is considered late, any late fees, when they should give notice to vacate if they want to cancel the contract. Secondarily I would list house rules: use of the property, noise limits, guest policy, care of property, etc. It is important to do this since you are friends: what if a dispute comes up and you don't have anything in writing to go back too for reference. If you need a boiler plate lease go to www.ilrg.com/forms.
I think the most important thing you need to do is draw up a rental agreement. In it state if it is month to month or term lease. Also tell about when rent is due and when it is considered late.


Here are some other things to think about:





-Utilities: how to split that up and when it's due Also the use/overuse of utilities. I had a roommate that ran the central A/C when I was gone at work all day and wow electric bill went up over $100.00





-House guest/Overnight guest: you might get annoyed after your friend moves in then their bf/gf is there so much it feels like they live there too, then your water bill starts going up because they are there using water etc





-Conditions of the room-Furnished or unfurnished, are they allowed to paint the walls a different color, put up diff window treatments etc...Do they have to get the carpet cleaned before they move out etc. Also, what if they get nasty and hord trash etc in the room then it causes gnats/roaches.





Noise-(on most apt leases line 18 quiet enjoyment of premises) Are they going to be too loud for you if you work nights and they are up at 8am with their music thumping against your bedroom wall etc.





Parking- Do they get a garage/driveway space or is it street parking.





Groceries-buy your own stuff and designate spots in the fridge, or buy all together and split the grocery bill?





Use of the common areas- are they allowed to use the living room/kitchen as much as they want to or not on certain nights etc etc.





Cleaning- who uses which bathroom, who scrubs the toilet, which cleanser do u want used on your shower, how often does it need cleaned,





Locks- I have a major thing with locking things. Do NOT leave the house with the living room patio door flung open with the screen open for anyone to just walk in, also when your not home, close and lock your window if its in a downstairs bedroom. Some ppl are very anal about not doing this. Had a roommate once that wanted her window flung open 24/7 and she threw a fit when i asked her to lock it up before she left (her room was next do the front door of the house and anyone could just walk up and lift the screen off and walk right in, it was a long, big window.)