House Hacking in Charleston, SC

[Jon Tyler]

Looking for a little help for my son who lives outside Charleston, SC. He recently purchased a 4/3 to live in with his girlfriend and her kids. They are now breaking up and he asked me about renting it out.

I am a licensed Realtor in Florida performing Property Management services, but know zilch about SC rental law. I'm thinking it would be best for him to house-hack as he could rent three rooms for $400+/month while keeping the master bedroom and being present to keep an eye on the property.

• Is this legal in his area?
• What are the downsides of house-hacking in this area?

I would also appreciate any suggestions as well as legal forms from anyone that has done this in SC.

[Franklin Spees]

While I have no experience in states outside of CA, I will say this is a very common strategy that I have both lived in and structured as a property manager.  In fact, renting out individual rooms can actually lead to a greater gross income, but be sure to structure your lease right (joint and several liability, sub-leasing provisions, move-in and move-outs, release and replenishing of security deposits, etc.).  Additionally, you have to consider the additional people will further add to and naturally accelerate the "wear and tear" of everything from carpet, to fixtures, doors, etc.  Best of luck.