Q: Renting out rooms in a Single-Family Home to friends. Is this just a boarding house?
I am looking to buy a house and would like to bring my roommates with me. (We have lived together for over a decade) How many roommates would classify my single-family home as a "boarding house?" For context, we do not want to apply for a shared mortgage, so it would be entirely in my name.
While the incoming rent would make the mortgage easier, it is not a financial requirement for the home to be affordable. I strongly prefer living with others and would like to continue to do so. Ideally, I'd like to take on more roommates, if possible, and would like to understand what liabilities or responsibilities such an arrangement would cause me to take on. The number of unrelated people is 3, including myself, but I would happily go with an even larger number, up to 7, total. This would be my primary (and sole) residence.
What risks/potential liabilities are involved with this being a "boarding house"/"rooming house"?
How many roommates is too many for this to be feasible?
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