CoLiving Property Management- let's not fail like HubHaus

[Grant Shipman]

If you are doing multiple renters under one shared roof w/common living areas like a kitchen/etc, then do yourself, your investing dreams, and your renters a MASSIVE FAVOR by learning & implementing coliving property management. There is almost no understanding of CPM out there- Did you know several multimillion dollar coliving start-ups have FAILED b/c they saw the demand for coliving w/out seeing the need for a workable form of coliving property management (see HubHaus, Common, Starling, etc). I've developed, use with all my coliving properties, and teach HPM (household-led property management). This is a form of coliving property management that fits rent-by-the-room coliving environments, but it would not fit other coliving environments (i.e. an apartment). Note I 100% know that CPM is not LTR PM with a few tweaks- I have lived and practiced this for over two decades. It's also not STR PM with a few tweaks- as this might fit a boarding house. CPM is a completely different type of PM, like LTR PM is different from STR PM. Once you've re-read what I mean by CPM (coliving property management), I'd love to hear from who else out there has developed their own CPM, or who else out there sees the need for a separate PM strategy for coliving properties? Let's pool our knowledge and experience and see if we can learn from each other! I am so looking forward to hearing from you all :)

[Grant Shipman]

Quote from @Ben Bolingbroke:

Hey Grant, I have 3 properties that I rent by rooms and I have desperately been looking for someone to manage them. I feel like I have good systems in place, but I just don't want to spend the time managing them anymore.  I'd be happy to connect and work together in the future!

 Hi Ben- congrats on what you've accomplished. I totally know what you mean.  In 2018, I hired and trained a person to run my PMC b/c the PMC's in the area did not know how to manager a coliving property (except for the college rentals, and those were gross).  If I can help you brainstorm how to train someone or hire a PMC, I'm available.  For my PMC to expand to a new area, I need at least 6 properties, so I don't know if my PMC could expand out there but maybe there's even that potential.  Congrats again on this stage that you've gotten to- what are you wanting to put your time into once you free up your time from landlording?