midterm rental house. rent per room. private entrance and bath?
Los Angeles, CA · Member since 2019 · 91 posts · 23 votes
Has anyone tried renting out a house by the room as a mid-term rental (31 days or more)? Specifically, I am considering getting a house where each bedroom has a private entrance and private bathroom. How much of a market is there for this in West Los Angeles? How much more desirable is it if I add a kitchenette (sink, food prep area, two burner stove) and on-site laundry?
Aloha Chris
I rent out rooms as mid-term rentals and hope I can help.
A private entrance and bathroom is definitely ideal and you can charge more for it.
I'm sorry I am not familiar with the West LA area but there is always a need for housing.
Since it is a longer stay, the more live-able you make it the better. I recommend knowing who you will be renting to (your ideal guest) and catering to their needs. What are others providing in the area and what can you provide that adds more value? EX: remote workers need a desk and comfortable chair. Understanding who you are targeting as a guest is key.
Also, if you have shared spaces such a kitchen, you will need to have rules and decide how you are going to manage the cleaning etc.
On-site laundry adds value and extra income. I recommend coin/credit card operated machines. From experience, if laundry included in the rent you will have people doing a full load for with just one T-shirt in the wash, leaving their laundry in the wash machine for hours and your water and electricity bill will most likely go through the roof (I learn't that the hard way).
Feel free to message me anytime if a question pops in your mind or you need a help in anyway! Bets of luck with your investment and new adventure in mid-term rentals :)
@Chris Morris Hey Chris, I own and manage several Airbnbs in FL but have stayed in a lot of Airbnbs as a guest as well and I love your proposed house-hack model, I think it's fantastic. I am currently staying in an STR (for ~40 days) in West LA so there is 100% a market for it. Here are some pointers I would give in relation to your question:
-Private entrance and bathroom are huge. If you have someone staying 31+ days, they are going to want a private entrance to come and go as they please without feeling like they're disturbing others and of course, a private bathroom is ideal because most people want their privacy and to keep their own areas clean. Having a shared bathroom leaves the chance for having to share with someone who is messy and doesn't respect those around them.
-Kitchens give your guests the chance to prepare food and keep food on-site. If someone is staying less than 7 days, there is a chance they may eat out more often, but someone staying 31+ days will likely want to cook as well as keep food/drinks in their rental area.
-On-site laundry is also a huge bonus. It doesn't have to be in-unit, but if you can arrange a dedicated space on the property to provide a safe and clean laundry setup, your guests will greatly appreciate it. As a guest myself, I have at times filtered my search on Airbnb/VRBO for properties that have laundry on-site. Frankly, someone visiting from out of town will likely not feel comfortable having to go to a laundromat in an area that they're not super familiar with.
Overall, you want to do things that will help you stand out above the other listings around you. You can always run a search with all of the things you're thinking of adding to your spaces to get ideas of what other successful hosts are offering and look at listings that are not offering those same things to learn how to beat them out.
I'm an active investor and Realtor in both SoCal and the FL Panhandle and love to talk RE! Would be happy to connect over DM or email if you'd like. Good luck with everything!
Aloha Chris
I rent out rooms as mid-term rentals and hope I can help.
A private entrance and bathroom is definitely ideal and you can charge more for it.
I'm sorry I am not familiar with the West LA area but there is always a need for housing.
Since it is a longer stay, the more live-able you make it the better. I recommend knowing who you will be renting to (your ideal guest) and catering to their needs. What are others providing in the area and what can you provide that adds more value? EX: remote workers need a desk and comfortable chair. Understanding who you are targeting as a guest is key.
Also, if you have shared spaces such a kitchen, you will need to have rules and decide how you are going to manage the cleaning etc.
On-site laundry adds value and extra income. I recommend coin/credit card operated machines. From experience, if laundry included in the rent you will have people doing a full load for with just one T-shirt in the wash, leaving their laundry in the wash machine for hours and your water and electricity bill will most likely go through the roof (I learn't that the hard way).
Feel free to message me anytime if a question pops in your mind or you need a help in anyway! Bets of luck with your investment and new adventure in mid-term rentals :)
@Raven Thanks for the useful advice, Raven, especially about the pay-per-use laundry and knowing my market.
@Chris Morris Hey Chris, I own and manage several Airbnbs in FL but have stayed in a lot of Airbnbs as a guest as well and I love your proposed house-hack model, I think it's fantastic. I am currently staying in an STR (for ~40 days) in West LA so there is 100% a market for it. Here are some pointers I would give in relation to your question:
-Private entrance and bathroom are huge. If you have someone staying 31+ days, they are going to want a private entrance to come and go as they please without feeling like they're disturbing others and of course, a private bathroom is ideal because most people want their privacy and to keep their own areas clean. Having a shared bathroom leaves the chance for having to share with someone who is messy and doesn't respect those around them.
-Kitchens give your guests the chance to prepare food and keep food on-site. If someone is staying less than 7 days, there is a chance they may eat out more often, but someone staying 31+ days will likely want to cook as well as keep food/drinks in their rental area.
-On-site laundry is also a huge bonus. It doesn't have to be in-unit, but if you can arrange a dedicated space on the property to provide a safe and clean laundry setup, your guests will greatly appreciate it. As a guest myself, I have at times filtered my search on Airbnb/VRBO for properties that have laundry on-site. Frankly, someone visiting from out of town will likely not feel comfortable having to go to a laundromat in an area that they're not super familiar with.
Overall, you want to do things that will help you stand out above the other listings around you. You can always run a search with all of the things you're thinking of adding to your spaces to get ideas of what other successful hosts are offering and look at listings that are not offering those same things to learn how to beat them out.
I'm an active investor and Realtor in both SoCal and the FL Panhandle and love to talk RE! Would be happy to connect over DM or email if you'd like. Good luck with everything!
Thanks Marshall. I appreciate your insight. I will do a bit more market research.