To protect your interests, it would be a good idea for the boyfriend to be added to the lease, or have a lease of his own.
This will result in him have the full obligations under California landlord-tenant law and protect you in case of damage to the property. In addition, it formalizes the relationship between you and him so that if there is an issue (e.g. you need to force him out), the steps you need to take to do so are clear.
Please let me know, if you have follow-up questions.
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Yes. I would consider entering into a new rental agreement at fair market value.
You are nice to help a friend out, but this has gone beyond that and included a third party who you do not know. It's fair to request now that fair market value be paid (which may actually help her, since it forces the issue of the boyfriend contributing to the household expenses).
I would also definitely get a deposit. You need to protect your interests.
Attorney
Attorney and small business owner with 8 years experience in the general practice of law.