Renting out each room furnished separately wants to know eviction strategies

[Sahil Syed]

Hi everyone, I'm planning to move to Cleveland,Ohio and had recently purchased a property. I find that the market rents in Cleveland are pretty decent and compared to the state that I live in currently all the 3 major cities in Ohio do have a low barrier to entry. I'm very new to the real estate industry and have been doing my cohesive research on it for a month (I have been an entrepreneur for 7 years now). I'm simply planning to buy the homes in working class, relatively safe areas, fix them up well and furnish them and rent the rooms individually to make minimum 1.5-1.7 times higher than normal rents by including their utilities. I have also been a very honest man and being an entrepreneur I have seen all the ups and downs (reason for me to mention this here multiple times here is to show I'm hustler and willing to go all in for this). My concern is on the eviction side, say if I rent all the 5 rooms fully furnished to my tenants and god forbid if one or two decide on not paying rents can I after giving them a 3 days notice simply have their stuff kept on the "curb"? I mean say if I include in the lease contract something that says "any rent later then the 1st of month shall be considered violation of this lease and this yearly lease shall simply become a weekly lease (as weekly leases I read only need 3 days notice to evict) from when a 3 days notice is automatically needed to be considered with per day penalty being $100 if not moved within 3 days of non repayment of rent from the date of not paying (due date) the person's presence on the property shall be considered illegal and will be treated no less then a violent intruder".

Again I'm just exploring my options as this is my hard earned money that I'm spending and I'm not an iron fist person but like to be "fair" and "punctual" with any business. Can I include this to above statement in their leases or anything that would be giving me a right to simply throw their stuff or them out by changing the lock key codes and never have to worry about anything else? As I have been reading a lot of terrible experiences and stories about landlords getting burned due to tenants simply taking their softness for granted and especially taking advantage of a lot of elderly homeowners to live in the places for free and in some cases even filing lawsuits against landlords to simply make money out of them. I find that going through the traditional eviction process can take anywhere between 30-45 days till then they will not only get plenty of time to stay but also burn lots and lots of my $$ and might even cause damage to furnished place that I shall give them. I was interested if anyone has gone through a similar situation or have any suggestions for prevention. I'm a hustler and I'm looking to get this working and before allowing anyone into my home just want to be extremely safe, professional and aware from all sides. I have recently joined biggerpockets after reading multiple books that recommended me here.

Thanks a lot for reading my post and may God bless the reader & people that have taken an effort to provide me with guidance and help here.

[Gladimir Lobo]

lmao.  Low barrier to entry. High rent.  And still you want more.  Need I mention gambling is legal in Ohio. All jokes aside.  You may want to consider short rentals as an alternative and not renting rooms.