Posted by David Krulac on December 20, 2000 at 16:19:29:
Renting Rooms in Houses?? - Posted by Bee
Posted by Bee on December 18, 2000 at 08:53:25:
Hi…I have a 3 bedroom house that I want to rent by the room.
I want to locks on each bedroom and rent each room on a monthly basis. The type of people will be those who just need a place to sleep, not a place to entertain. I knew of someone who had about 5 home and she was using this method bringing in a bout 6 or 7k per month with the 5 houses in middle income hoods.
I am no longer in contact with this woman so I dont know the ends and outs of this method. Can anyone shed any light on this method?
She praised the simplicity of this method, the only time consumer was the screening process. Her homes were also pretty clean and spotless and she lived in one of the rooms herself.
Bee and Paul - Posted by David Krulac
Posted by David Krulac on December 18, 2000 at 18:11:37:
There’s a couple of books on the renting of rooms by
Doreen Bierbrier. One is “Managing your rental house for increased income.” The property needs to be condusive to renting rooms, the zoning must not prohibit it and you must be willing for a more management intensive endevour. Good Luck
Re: Renting Rooms in Houses?? - Posted by dewCO
Posted by dewCO on December 18, 2000 at 16:56:07:
You just have them sign a lease to do it. However, bottom line, is if these properties are zoned as single family residential, which they probably are, then it would be illegal to do this. All will be OK until someone (it will usually be a neighbor, tired of all the noise and/or cars parked all over) turns you in to the local zoing authorities, who will put a stop to it.
Re: Renting Rooms in Houses?? - Posted by Paul_MA
Posted by Paul_MA on December 18, 2000 at 13:49:48:
I’m planning on renting rooms too. I’ve got a 3 family that will be able to have 8 residents plus a 3 bdrm apt for myself.
Its new for me too. My plan is to rent to graduates of half-way houses. These individuals are AA people who are being returned to the streets, having completed about 7 months of rehab. I will offer a place for like-kind to be together.
This method helps me raise money faster AND get around the lead paint issue.
For more info on the pro’s and con’s of rooming, search the archives. This subject has com up in the past.
Re: Bee and Paul - Posted by sb
Posted by sb on December 19, 2000 at 22:38:36:
Her book is no longer in print, know where I can get it?
Re: Renting Rooms in Houses?? - Posted by Travis Capps (MD)
Posted by Travis Capps (MD) on December 18, 2000 at 18:58:09:
How does this method help you get around the lead paint issue?
Travis Capps (MD)