What are rules/recommendations that one should take into account when renting an appartment with good friends?

Asked by Marvinmon, Oakland, CA Wed Apr 17, 2013

Help the community by answering this question:

+ web reference
Web reference:

Answers

8
Vilius, Home Seller, Charlotte, NC
Sun Apr 28, 2013
BEST ANSWER
Don't rent with friends. You will have problems.
0 votes
Mrs. Holly B…, Agent, Spencer, IA
Thu Nov 7, 2013
Don't Do It! J/K If you do: Document, document, document. If you are renting with them you want to make sure everyone is actually on the lease agreement. I also suggest some sort of roommate agreement that spells out everything from paying rent to food to friends sleeping over. It may be awkward or feel silly or strange- but trust me- if you don't spell it out and discuss it ahead of time there will be issues.
1 vote
Mary Walker…, Agent, Jacksonville, FL
Thu Jul 11, 2013
Get it in writing! It avoids misunderstandings. Also, clarify who will "sign" on what bills, and what happens if a party doesn't pay regularly.
0 votes
Lee Arnold, Agent, San Marcos, CA
Mon Jul 8, 2013
When renting a property to friends, it's always best to hire a professional to be the go-between. That way, you can separate business from friendship, and ultimately, have someone to blame the awkward conversations on (management).

If hiring a professional is not an option, be clear and up front of expectations. Put everything in writing- no handshake deals. It's better to have an awkward conversation up front versus a disagreement later down the road. And don't think it won't happen to you- it will!
0 votes
Pacita Dimac…, Agent, Oakland, CA
Wed Jul 3, 2013
The only "rules" will be spelled out in your lease agreement

The recommendations would be for you and your friends to familiarize yourselves with the California Landlord and Tenant Law
http://www.dca.ca.gov/publications/landlordbook/

Pay particular attention to who is liable for non-payment --- if one of you reneges on your arrangement and bails out, who is liable for the rent?

Other recommendations is for you to draw up an agreement on your individual responsibilities towards the upkeep of the place. Who's the Oscar and who's the Felix in this group? Even good friends will fight over things that will fester over time.

Here's a sample roommate agreement
http://sa.berkeley.edu/legal/forms/roomate
0 votes
Dan Chase, Home Buyer, Texas City, TX
Tue Jul 2, 2013
Nanette, if you are incapable of giving a real reply to this kind of simple question perhaps you should reconsider posting here. I could easily give better and more complete answers than you seem capable of based on your reply below. If you doubt that look at my profile, blogs, and q&a from the past.
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Tue May 28, 2013
First of all, if I read your question correctly - you're asking about renting an apartment WITH friends, not TO friends.
Big difference.

I don't see any issues in renting with friends (for example, lots of college grads find apartments w/ their college pals) as long as you set some ground rules before doing so.

You need to decide how things like food and visitors will be handled.....is smoking allowed?....who cleans up the shared rooms?........how the bills will be paid.........etc.
If the person is already your friend, then you should have a pretty good idea of what they're like - are they messy and you're a neat freak?
Are the party animals and you're a bookworm?
So - you're not going into this without some idea of who the other person is...and whether you might be compatible as roomies.

The more you can agree on beforehand, the better.

If one can't afford to rent a place on their own, then renting with a friend can be a good short term solution.

The one good thing about a lease is........after a year it is usually over..so if it isn't working out....you move!
0 votes
Toby Crabtre…, Both Buyer And Seller, Tustin, CA
Tue May 28, 2013
Renting apartment to a friend doesn't seem a good idea. You are bound to have problems. My advise to use would be not to rent apartment to your friend.


http://www.searchlocalhq.com/lsm_realesate-agent.aspx
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more