Ok here goes. I\'m turning 21 in 3 weeks. When that happens, I will get $7,500-10,000 thats in a trust fund for me. Heres my plan. Rent a 3 bedroom Apartment for $1,400 a month and pay for everything at first. Get roommates ASAP via craigslist or another online roomate hookup site. have them take the 2 spare bedrooms and pay $625 each, which means I would be getting $1,250 a month toward rent, and only paying $125 a month rent myself plus the utilities. or i could try to get them to pay $700 and then i would pay no rent myself, and just the power bill and such, and have almost all of my paycheck for food, ciggs, and weed. What do yall say.... will it work? I already placed an ad on craigslist because i originally thought i would just rent one room in someone elses pad and i got like 30 resonses.... but then this idea struk me... not only would i have my own place, but it would be almost free
Well shit that sounds like a decent idea to me! As long as you always got someone fillin\' in to be a room mate and payin\' their shit then I think you\'re set) Might have to do that plan myself.
how do you plan on splitting an apartment with 2 other people and have them pay for it all? am i missing something?
Especially total strangers. Trust fund? Wow, you\'re lucky. I wish somebody were to give me a huge wad for nothing. \"Modern-Hippy\" is a little misleading.
yes... this is what your missing. The apartment becomes my home once im renting it in my name. there are plenty of people out there looking to move but can only afford 600-700 a month and would be happy to have roommates. They dont need to know how much i pay, and if they do need to know, fuck $625 a month for renting out a bedroom is a decent deal in this area. they should be happy with it
that\'s a good idea for you.. not really. you\'re cheatin people out of their hard earned money so you can take it easy. not trying to burst your bubble and all but that\'s kind of fucked up imo..
You might want to check with a lawyer and make sure this isn\'t fraud. Considering you would be entering into a legal agreement with tenants who are under a false premise. If it is, the costs of getting caught are... significant to say the least. Forget about legal action; your credit rating drops like a fuckin rock.
see, this is what your not understanding.... im not cheating the out of money. most people seeking roommates charge about my price. these people are looking for someone just like me who needs help paying the rent. Why do i have to be cheating them out of their money when im giving them the same deal everyone else is. just because i dont pay much doesnt make me dishonest
yeah your plan doesn\'t sound too good.. imo. your having two strangers pay 5 times what you plan on paying.. and somehow you think that a conversation about rent money and how much your paying will never come up.. sounds pretty shitty bro. but go for it.
Not to mention that he\'s still going to technically be renting it, meaning there is going to be a third-party landlord or property owner. If you try to get them to pay you without informing your landlord, then you\'re definitely violating your contract. It\'s a standard clause in any leasing or renting agreement. The names of the occupants need to be on it, otherwise you\'ll get all three of you evicted. Two guys, finding out that you ripped them off AND got them evicted... doesn\'t sound like the kind of position I would want to be in, if i was you.
yes. if there are going to be other people on the lease, then their names should also be on it. so therefore, you guys will be renting as tenants in common. everyone has the same equity therefore, it should be split. were you just only going to put your name on the lease without theirs? because that wouldn\'t work..
That idea is horrible You\'d have to have just fallen off the turnip truck to not question what another person is paying for rent, especially if it happens to be like 1/5 of what you\'re paying
Depends where you live. In Toronto, the condo and rental market is nuts. That\'s the average price for a three-bedroom apartment.
What you need to understand OP is that, you dont own the land or apartment, if its not your home you cant rent it out if its not yours to rent. You can however pay 1/3 the rent and all live as roomates though.