[John 070]

edit btw I was single when I purchased my house, and I would never consider getting a roommate. A friend at the time said "Megan is looking for a place why don't you offer her a room, plus you could get $1,800/mo. which is what she's paying now."

Then he said to install a nanny cam and we could have some fun

[Naz24]

I own a two family house -- with that being said, part of my underwriting when purchasing the home was to rent out the first floor unit (and i live upstairs)

My first tenants were horrible. They were from the outskirts of Hong Kong and wanted to be in my town for the school district for their 12 year old son. They were dirty people, brought a bird (i had to unfortunately inherit this lease from the PO) and stunk up the joint with out using the stove fan. (lots of pan fried fish, etc). As you can tell, i was very very relieved when he told me he wanted to get out of the lease early because he lost his job (yes, i felt bad, and i let him out without taking his full security deposit).

My current tenants are great, a middle aged gentlemen (who is a handyman), and a late 20s guy. Both are complete pot heads which doesnt bother me. But i get lots of help around the house from the handyman.


Heres the key: get your real estate attorney to draft up a bulletproof landlord friendly lease. even if its a friend who you are renting a room to, you need a solid agreement, something that would hold up in court. I cannot stress this enough. Also, take security deposit, (again, even if its just a friend) and make sure there's a clause in your lease that allows you to cancel it with 30 days notice (each state has different rules surrounding canceling leases, your attorney should know). NJ Is very tenant friendly, so i did all in my power to keep it landlord friendly.

The fact that you'd be sharing a kitchen is huge, make sure you know what youre getting into....

[John 070]

when I was in college I sued my landlord because the rat ******* for no reason kept my security deposit. I won in small claims. He still refused to pay and told me I'll never see my deposit again.

This was a hard lesson in life, if you don't know where someone works, you're out of luck. Ah, but the rat ******** told me where he worked at one point, so I had the sheriff serve him with an income execution.

Landlords can be very dirty. He knew the system, and again for no reason kept my deposit as he did all the people before me. A lot of times landlords are not even Americans. Think about it, they want you to pay their mortgage, that is the only reason they are talking to you. Kinda like leasing a car, one person is taking advantage of another.

The moral of the story is if you want to be a landlord, never tell your tenant where you work, or allow them to figure it out. They can be sneaky ******** too and act innocently, oh, you hit bad traffic on Rt. 9, where do you work again?

It's a losing proposition for all involved, unless you're trying to get someone else to pay your mortgage.

[bbbbmw]

Originally Posted by Naz24

I own a two family house -- with that being said, part of my underwriting when purchasing the home was to rent out the first floor unit (and i live upstairs)

My first tenants were horrible. They were from the outskirts of Hong Kong and wanted to be in my town for the school district for their 12 year old son. They were dirty people, brought a bird (i had to unfortunately inherit this lease from the PO) and stunk up the joint with out using the stove fan. (lots of pan fried fish, etc). As you can tell, i was very very relieved when he told me he wanted to get out of the lease early because he lost his job (yes, i felt bad, and i let him out without taking his full security deposit).

My current tenants are great, a middle aged gentlemen (who is a handyman), and a late 20s guy. Both are complete pot heads which doesnt bother me. But i get lots of help around the house from the handyman.


Heres the key: get your real estate attorney to draft up a bulletproof landlord friendly lease. even if its a friend who you are renting a room to, you need a solid agreement, something that would hold up in court. I cannot stress this enough. Also, take security deposit, (again, even if its just a friend) and make sure there's a clause in your lease that allows you to cancel it with 30 days notice (each state has different rules surrounding canceling leases, your attorney should know). NJ Is very tenant friendly, so i did all in my power to keep it landlord friendly.

The fact that you'd be sharing a kitchen is huge, make sure you know what youre getting into....

I'd be a bit concerned about the pot thing. If you live where it is illegal, and they get busted in your house, it could get confiscated and auctioned on the courthouse steps. You could get dragged into it as well. Very doubtful it could happen if they only have it for themselves, but if they get mixed up in the "distributor network" it could get messy real fast...

[UncleWede]

If you haven't seen it recently, Netflix "Pacific Heights"

[Flying Ace]

Originally Posted by ScottSinger

Nobody worried about wear and tear of having someone renting? I wouldn't want any male adults living in my new house, two adult male roommates - that's a lot of wear and tear on floors, doors appliances and fixtures.

one word: deposit.

[Flying Ace]

Originally Posted by John 070

edit btw I was single when I purchased my house, and I would never consider getting a roommate. A friend at the time said "Megan is looking for a place why don't you offer her a room, plus you could get $1,800/mo. which is what she's paying now."

Then he said to install a nanny cam and we could have some fun

pics?

[Flying Ace]

Originally Posted by bbbbmw

I'd be a bit concerned about the pot thing. If you live where it is illegal, and they get busted in your house, it could get confiscated and auctioned on the courthouse steps. You could get dragged into it as well. Very doubtful it could happen if they only have it for themselves, but if they get mixed up in the "distributor network" it could get messy real fast...

what I'd be concerned with with the drug thing is if they had large quantities. Who knows if someone of worse character will break into your house to look for money or drugs that you're not involved in?

In my lease, my tenant has a strict no drug policy. I even spelled out pot as well. Basically, I said, any illegal drugs use, storage or distribution that constitutes as an illegal activity under federal law is an action on the grounds of immediate eviction. (eviction for cause), and is treated no different than not paying the rent.

[sygazelle]

There is a book available that is an excellent guide for being a successful landlord. Whether you are renting a room, apartment, or a whole house there are things you can do to give you a much better chance of success. Get this book on Amazon and follow the steps if you decide to go through with it.

As others have said, this is a business transaction, not a friend helping a friend. Read the book but the most important two steps is background check and up front payment. Get first month, last month, and security deposit in your hand before they move in. No excuses. No stories. Just cash. I had a guy pull up to my condo in a flashy car and a wad of cash. I told him to fill out an application and I would get back to him. He got mad and left with his cash. The next day I got someone with great references and cash who was a great tenant for 5 years.

Here is a link to the book:

https://www.amazon.com/Landlording-H.../dp/0932956254

I've used it for years and have had 100% success.

Best of luck!

[John 070]

Originally Posted by Flying Ace

pics?

It never happened because back then web cams were really expensive.

When I think about it, I've been single for more of my life than I've been married, and had a lot of different experiences. Megan and I were only friends, yet we kissed on the lips. I was ok with it, but the older I get, the more I wonder about the past.

anyhow if you are comfortable forget about roommates and maintain your privacy, that's why you bought a place.

[natedog7700]

After reading all of the replies im surprised at how many people say its a bad idea! I will add though, it would be to a friend or friend of a friend. Im 21 and single so we'll see how this turns out! I would never think about inviting someone from craigslist or like wise.

[natedog7700]

Originally Posted by John 070

when I was in college I sued my landlord because the rat ******* for no reason kept my security deposit. I won in small claims. He still refused to pay and told me I'll never see my deposit again.

This was a hard lesson in life, if you don't know where someone works, you're out of luck. Ah, but the rat ******** told me where he worked at one point, so I had the sheriff serve him with an income execution.

Landlords can be very dirty. He knew the system, and again for no reason kept my deposit as he did all the people before me. A lot of times landlords are not even Americans. Think about it, they want you to pay their mortgage, that is the only reason they are talking to you. Kinda like leasing a car, one person is taking advantage of another.

The moral of the story is if you want to be a landlord, never tell your tenant where you work, or allow them to figure it out. They can be sneaky ******** too and act innocently, oh, you hit bad traffic on Rt. 9, where do you work again?

It's a losing proposition for all involved, unless you're trying to get someone else to pay your mortgage.

Lmao sounds like you've been through quite a bit!!

[John 070]

Originally Posted by natedog7700

Lmao sounds like you've been through quite a bit!!

When you are young you want your day in court and want to win. I showed up in small claims and the landlord has two shady dudes with him so I was thinking, who the **** are these dudes and what the **** are they going to say? He was just trying to act all intimidating.

I wore a suit and acted like I was Al Pacino in "And Justice For All," I was really enjoying myself and embellishing the entire situation, I said the house was rat infested with cockroaches and had a hole that he never repaired that went from the bathroom down to the cellar (it was true). I don't even know if this acronym is used anymore but I told the justice this is one dilapidated uninhabitalble SRO which and nothing more than a flop house with heroin addicts moving in an out weekly using the front door as a turnstile. The landlord said, "I object!!" Then I turned on the Al Pacino, it was fun for all.

[Naz24]

Originally Posted by Flying Ace

what I'd be concerned with with the drug thing is if they had large quantities. Who knows if someone of worse character will break into your house to look for money or drugs that you're not involved in?

In my lease, my tenant has a strict no drug policy. I even spelled out pot as well. Basically, I said, any illegal drugs use, storage or distribution that constitutes as an illegal activity under federal law is an action on the grounds of immediate eviction. (eviction for cause), and is treated no different than not paying the rent.

I like this. I have them renewing soon, i'll add a clause into my lease

[John 070]

Originally Posted by Naz24

I like this. I have them renewing soon, i'll add a clause into my lease

The SROs existed for that very purpose, and the manager took a cut. They called them guest fees (the prostitutes or junkies or gun buyers had to pay a daily rate). Maybe you just add a clause for guest access.

[Flying Ace]

Originally Posted by Naz24

I like this. I have them renewing soon, i'll add a clause into my lease

make sure you specify federal law b/c that is more restrictive and not state or local laws.

here in CA, that makes difference b/c of pot.

[jtodd_fl]

Originally Posted by Naz24

I like this. I have them renewing soon, i'll add a clause into my lease

"Unless shared with landlord or equal compensation paid in "Favors" (See subsection II paragraph A for list of acceptable acts that constitute a "Favor") at the sole discretion of landlord. The crazy/hot matrix (See subsection II paragraph B) will be used to determine eligibility to substitute "Favors"."

[Naz24]

Originally Posted by Flying Ace

make sure you specify federal law b/c that is more restrictive and not state or local laws.

here in CA, that makes difference b/c of pot.

Just re read my lease, it seems that i have a pretty blanket statement currently...

[fravel]

Based on my experiences, as long as it is financially feasible I will never live with anyone except my own spouse and/or dependents ever again.

Roommates are just stress you don't want and can't alleviate.

[csu87]

Im very against this just because I enjoy living by myself. Even just having my wife live with me is iffy.

However, my sister has been doing this for years for her condo in NYC. She finds people through friends and coworkers and interviews them in depth as well as pulling criminal/credit checks. She just recently had a girl living with her for 18 months that she had found on Craigslist even.

[Flying Ace]

Originally Posted by csu87

Im very against this just because I enjoy living by myself. Even just having my wife live with me is iffy.

However, my sister has been doing this for years for her condo in NYC. She finds people through friends and coworkers and interviews them in depth as well as pulling criminal/credit checks. She just recently had a girl living with her for 18 months that she had found on Craigslist even.

This also brings up a good point about the city/region.

In markets that have a housing shortage, your pool of "reasonable and normal" tenants are ample. It's just simply young professionals who needs a place to live.

In other markets, you'll probably find more "issues" with tenants that will take up a co-habitation lease described by OP, often b/c they're getting a big discount on the prevailing rental rates for private units on the market.

There's usually a reason why that person will prefer to take the discount and not live by themselves...usually they'll have financial distress.

[UncleWede]

Originally Posted by Naz24

Just re read my lease, it seems that i have a pretty blanket statement currently...

But that mentions CONVICTIONS as a reason to end the lease. Unless you plead out, that takes a few months/years, generally speaking