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Updated almost 10 years ago on . Most recent reply

User Stats

13
Posts
3
Votes
Mike Pederson
  • Minneapolis, MN
3
Votes |
13
Posts

Variable rent based on # of roommates???

Mike Pederson
  • Minneapolis, MN
Posted

Experienced landlords, I have a unique question and I am looking for some feedback.  I am buying nicely rehabbed properties and charging near top of the market rent for them ($1,600 per month).  This has been working very well.  However, I have noticed that I am attracting a lot of interest from tenants who have roommate situations (i.e. 4 girls just graduating from college, young professionals, etc) because the rent is not an obstacle for them when splitting it up 4 ways.

For multiple roommate situations I feel like I should be able to get more rent than what I expect from a single family.  Am I just being greedy?  It feels like 4 adults is potentially more wear and tear on a property as well.  Is there a way to structure my advertisements to charge more for multiple roommate situations (4 adults)?  Is that even legal?  If so, what is the best way to structure this. 

Any feedback would be greatly appreciated.  Thanks!

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