Seeking advice on Co-living/ rent-by-the-room in Texas

[Josh Raikin]

If anybody can connect me with someone with experience in mid-term rentals (3-6 month tenants), I am seeking advice on Co-living/ rent-by-the-room properties in Texas (specifically Dallas/ DFW/ Richardson/ Garland). 

Would really appreciate the opportunity to connect and get advice on the following:

- How do I determine if the city allows for co-living/ mid-term rentals? Does it differ in legality and paperwork from an air bnb?

- How do I analyze the deal? Does it differ at all from an air bnb?

- Does anyone have experience in this field I can learn from?

Thanks for the help!

For example:

I found a property on the MLS in Garland, TX with the following information and analysis (it is under contract now, so no harm in sharing):

- I would plan to fully furnish this and offer house keeping too

[Matt Solis]

Hi Josh, I’ve got two properties in DFW and utilize the RBR strategy.

Usually cities have a limit on the amount of unrelated persons you can have under one roof. It's usually around 4 for most municipalities. The city doesn't care if the lease is one year or 6 months or 3 months. As long as the term of the lease is longer than 30 days, it's not considered a STR. As long as the city doesn't require a certificate of occupancy (I believe Garland does), there is no additional paperwork you need to fill out.