Rental Property Investor · Baltimore, MD · Member since 2018 · 41 posts · 23 votes
Hey All,
One more post for me!
I entered contract on an awesome 3B/2.5Bath townhouse in Fed Hill last week. I'm currently deployed, but getting back in mid-July.
I'll be moving in immediately, and since there is basically no rehab I'm looking to get roommates in there ASAP to get the cashflow started.
Does anyone have advice on the best times to begin advertising, examples of leases in similar situations, and best practices for screening tenant-roomates?
Baltimore, MD · Member since 2017 · 26 posts · 5 votes
7y
I'm currently house hacking a 2-unit building in Federal Hill. I listed it on Zillow, hotpads, apartments.com, and on a local Facebook group (Federal Hill Roommates and Rentals). I listed it for what I believed was a pretty appealing price and had a lot of interest. Once the apartment was in move-in ready condition I had it leased to great tenants within a week or so.
I think there's probably the most interest in June/July/August, but people are definitely starting to look already based on the conversations that are happening on the Facebook group. I would think that if you get some good pictures and price it correctly, you should have no trouble getting tenants in a very short period of time.
This is my first time renting to someone, so I am by no means an expert, but the tenants that I picked were ones that had good references, good credit scores, and I was able to talk to their previous landlord who gave them a good recommendation. They also met all the other requirements that I had regarding income. The lease that I used was a combination of bits and pieces of a few different Baltimore City leases that I found online or got from other landlords.