lease wording - shared apartment

[jd-science.livejournal.com]

I'm co-owner of a property. The other owners live out-of-state, but I continue to live in the apartment, sharing with roommates (who are tenants, not owners). I'm not sure how to deal with the lease situation. If I only have the tenants on the lease, then I have no legal grounds to live in the apartment, right? But if I'm on the lease, does that mean I'm my own tenant, and I need to list myself as paying myself rent?

Any advice on this, or pointers to resources, would be appreciated. Thanks.

Comments

[narya.livejournal.com]

I did this (minus the out-of-state additional owners) but don't remember what we put on the lease.

I would advise you to just pay for an hour of a lawyer's time. Take a standard lease with you and ask him/her how you should modify it for your situation. I liked Neal Berman (on College Ave) but I don't know if he's still around.

[narya.livejournal.com]

Also, make sure you understand the implications of section VI here:
http://www.somervillema.gov/CoS_Content/documents/Tenant%20Helper%20-%206th%20Edition.pdf

[thetathx1138.livejournal.com]

Seconded: DSLJ is no replacement for a lawyer. ANYTHING people tell you here you need to run by somebody you're paying to catch problems.

[wonkywheels.livejournal.com]

There's a web site called Doc Stock that has all kinds of legal agreements. What you'd want is not a standard lease but a room rental agreement because you are the owner, not a tenant.

[jd-science.livejournal.com]

thanks, all. if you have other suggestions besides neil berman, i'm all ears!

[adrian-turtle.livejournal.com]

I suggest setting up the lease as a room rental, not as an apartment rental. Your legal grounds to live in the apartment are that you are a co-owner of the property. I used to share a house with the owners, and that's how we set it up. We did it for almost 4 years, in Arlington and Belmont. If you put in a clause like "and shared use of common areas," that could mean everybody gets to park their bikes in the basement, then goes to separate rooms and shut the doors, or it could mean you take turns cooking and all have dinner together every night.