Home owner getting a roommate, help with contract

Horus

Hello H/A,

I am a homeowner with some space to rent out. Recently a friend (whom has helped me through a lot in life) recently got a great job a few miles from me. We discussed about her being my roommate. Everything is aligned for her to move in by May. The only problem is I have no experience with this situation since I went from parent's home to being a homeowner. The good thing she wants to do everything formal and proper since she prefers to keep the friendship and if things don't work out she wont mind moving. We plan to start out month to month in the beginning. I wanted to see if there are resources in drafting agreement forms, rules and/or contracts for roommate arrangements?

schuss

nolopress should have some good stuff.

Key things to know as an owner sharing a rented space:
1. you can only double-depreciate spaces that she solely has access to (IE - room and bathroom), the rest gets depreciated like normal.
2. Responsibilities - write it into the lease so you both have it in writing in terms of splitting utilities and maintenance.
3. Damage deposit - I waived it when I rented to friends and had them pay me for damage after the fact.
4. Month to month vs. lease - I'd honestly do a 6 or 12 month lease if you can, just so you don't come to rely on the income and then suddenly lose it
5. Rent's due! - have rent due a week before your mortgage, then don't mark them late until after that week.

bowen

Get a lawyer to look over the contract, as well.

Creagan

I'd recommend specifying a minimum level of cleanliness which must be maintained at all times. But this is coming from somebody who's last roommate stopped throwing out her food waste, doing dishes, and tried to get into a fight with me over whether or not candy wrappers would attract bugs.

knitdan

I realize this is a friend, but you should probably consider her a renter rather than a roommate.

Horus

@schuss‌ will look it out
@Creagan‌ we are splitting house cleaner cost, I have been to her place and she keeps everything clean for how busy she is with work.
@knitdan That is why we both agreed to keep it professional

Thank you everyone for giving me tips on this situation.

ceres

I think what knitdan might be saying is that in addition to keeping it professional the relationship you have with a roommate is different than the relationship you have with your renter. One is "you share responsibility for rent/utilities" and one is "she OWES YOU rent/bills".

_J_

When you're drafting the contract, don't leave something out because "Oh, she wouldn't do that." or "Oh, of course she would do that."

If you care about X, then specify X in the contract.

Edit: You might want to look at Tenant rights by state
Landlord / Tenant laws by state

Some things to consider specifying in the contract: Rent, Repairs, Pets, Parties, Parking.

zepherin

Where I work my boss had me do a lease through Lawdepot. It was adequate for what I needed. I think it cost $20 but you just pop in fields, your name their name, the state you are in etc, and it kicks out a lease.