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Updated about 1 year ago,
Is renting out a SFH by the room worth the extra money?
So I went on a date with this chic last night, she mentioned she just moved to the area and she is renting an ABNB room rental in a house with room mates for $1,300 a month in SeaTac. I thought to myself, hmmmm, this is interesting. Mind you she didn't offer the details until I asked, but that's why I perked up.
I thought to myself, if I could rent out each room in my 4 bedroom houses for that price, I'd be making bank from cash flow. Then I did some research on ABNB and I found dingy room rentals for $1,500 to $2,800 a month, with most being around $1,800 per room for the month. Hmmmmm....
Yes, I get it, there will be turn over as room rentals are very transient, so you'll never have each room rented all the time for the year. And yes I get it, it's more work as you have to deal with frequent turnover, screenings, etc.
But HOW MUCH hassle is it dealing with room mate conflicts? Has anyone ever done this and how bad has it been? My ex rents by the room in such a setup but we no longer talk so hard to ask her questions at this point, but I will say while we were together it seemed there were constant conflicts between her and her room mates that the landlord had to get involved with. Mostly just a text message or so to clear up.
I'm thinking of trying this out next time I have a vacancy, to see how it goes.