Renting rooms of a house I am living in and buying?

[Pinealice]

What should I know about sharing my home with fellow students? I plan to offer personal local telephone lines, cable hook-up, and probably furniture.Where could I find leases applicable to the situation, and what is the shortest amount of time I can legally make the lease for? Is it ok to require a semester in advance?


Thanks,

Pinealice

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Pinealice:
What should I know about sharing my home with fellow students? I plan to offer personal local telephone lines, cable hook-up, and probably furniture.Where could I find leases applicable to the situation, and what is the shortest amount of time I can legally make the lease for? Is it ok to require a semester in advance?


Thanks,

Pinealice<HR></BLOCKQUOTE>

If you are going to become a landlord, you need to read and understand the L/T code applicable to your State. The shortest time you can make the lease for is a day and you can collect a full semester of rent in advance but the students do not have to agree to pay it since the norm is payment of rent monthly.