Roommates
Renting to multiple tenants? We've got it covered.
Managing separate tenants in the same rental unit has never been easier. With TenantCloud, you can organize payments, send separate leases, and more.
- Run screening reports for each tenant
- Set up automatic late fees
- Request separate rental agreement signatures
- Schedule rent increase/decrease
Flexible Rent Management for Roommate Situations
Set Up Individual Payments
Take payments individually or jointly for stress-free rent collection. Set up a combined invoice or split the total for each roommate. So easy.
Simple Credit and Refunds
Easily apply credits or discounts to a roommate's rent if needed. Process partial or full refunds directly through the platform, and their account will automatically update.
Adjust Rent Rates
Rent increase or decrease coming up? Use TenantCloud to adjust the rent amount for each roommate and send an increase/decrease notice to give a proper heads up.
Rent to multiple tenants with ease
With TenantCloud, roommates can pay their individual portion of the rent individually or pay one invoice jointly.
Every roommate sets their own TenantCloud account and can access the lease and transactions.
Choose the invoicing type
The separate invoicing type allows roommates to pay the fixed portion of the rent and other invoices.
The combined lease type allows roommates to be collectively responsible for the whole rent amount and other invoices.
Send a Notice
Sending a notice to a tenant or roommates is easy. You can schedule the Rent Increase or decrease, add utility, and other recurring invoicing, remind about outstanding balance or end a lease. Just select the related notice and send it out.
Set Partial Payments
Allow your tenants to pay partial rent prior to the due date, or a whole amount. It’s up to you. You can set up all the appropriate settings during the Move-in process. You can turn off partial payments at any time.
Renters Insurance
Protect your rental, your tenant’s home, and all the precious belongings in it by requiring the Renters Insurance upon Move-in.
A tenant can provide their insurance or get instant quotes right in their TenantCloud account. Renters Insurance is powered by Assurant.
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FAQs
No, you can add as many roommates as the property allows. Each one will get their own lease agreement and rent invoices, making it easy to manage multiple tenants per unit.
Absolutely. Through TenantCloud, you can require each tenant to provide proof of renters insurance or purchase a policy as part of the move-in process.
With individual leases, each tenant is only responsible for their own rent. Late fees and eviction notices can be issued to the non-paying party without affecting other roommates.
When setting up a new lease, simply enter the total rent amount and specify each roommate's share. They'll automatically receive individual invoices for their portion each month.
Yes! With TenantCloud, you can create separate leases for each tenant in a shared rental or a shared lease. It's up to you! Either way, you can allow them to be responsible for their own portion of rent and other fees.