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Updated almost 3 years ago,
Help with unique? Furnishing ideas for a by the room rental prop
Hi! I'm new to BP and can't believe all that is available here! Amazing. Thanks!
I'm buying my first "rent by the room" property, closing. Mar 16!. Given the area, the highest demand is traveling RNd, temp IT folks & upper level/grad students at Wake Forest Univ [3 miles away]. Target tenants would be 20-30 yo's. It's a 2100' 3Br/3.5 ba TH located right off a major road in a very desirable area.
3 questions. 2 on what I should do with the the space. & then how should I price the rooms?
1. Re-purpose the dining room area? It has an eat in kitchen. I was thinking of using the "dining room" area as a space for 1 or 2 [used]: foosball, bumper pool, "table top" [4 ft x 2 ft] pool or small air hockey. Which one[s]? I could get 2 used for the same price as a dining table and chairs [which I don't see being used]. Yes/no? Which ones?
2. In the basement [no window area] how about a "mini home gym" with a [used] elliptical, mirrors on walls, gym mats, kettle balls, pull up bar, etc? If so, the ceiling isn't finished, so insulation, pipes, wires, etc are exposed. Do I "need"to finish the ceiling for my target age group [20-30] to find it ok?
Minus ceiling cost, total to fit both spaces would be under $600. I think it'd certainly set me apart and allow for higher rent rate!
Lastly, ideas on how to price them, esp 2 week rentals, do I give a 12 mom discount, etc. 2Brs are upstairs [1 has a deck] and 1 is in the basement [with private entrance in back] PLUS it has a garage space [other side of the TH next to me]. So many variables it's hard to know.
oh, what about a small dog, say for the basement tenant [assuming 6 mo, min]?
Thank you, all, in advance. I've got a LOT of reading to do on this site!
Thanks