Before taking on roommates, you will want to think realistically about the financial implications. Rent stabilization and rent control laws can limit how much rent you can charge your roommate, so it is is very important to check your local laws. The law may also dictate how the rent is divided. For example, you may be required to split the rent evenly, even though one of the bedrooms is more spacious than another.

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When screening new tenants, the considerations are many. Sometimes the tenant who seems to be the best fit doesn’t qualify financially. Before you show that tenant the door, you may want to explore having a cosigner on the lease to back up their finances. The cosigner does not live in the unit, but promises to repay money owed by the tenant, should the tenant fail to meet their financial obligations to the landlord. Here are… Read More »

While many properties are rented by individuals or families who will personally live in the home, there are cases when third party organizations want to pay the rent. As a landlord, you may encounter businesses, houses of worship, or relocation agencies who want to cover the rent on an individual’s behalf. Large companies looking for flexible corporate housing may wish to rent a unit, pay the bill, and have the flexibility to move trainees and… Read More »