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Updated about 5 years ago on . Most recent reply
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Data for Year-to-Year, Room-by-Room Leases?
Hi BiggerPockets ATX. I know there's data out there regarding property prices, and there's data out there about the short-term rental market a la AirBnB, but do you know where I can find data on year-to-year leases for rooms? I'm asking because I am looking to buy a house where I will live and get roommates who will also be my "tenants". I am evaluating several areas in Austin, but I would like to look at data to help me evaluate which of these areas are surest bets for the types of year-to-year, room-by-room renters I'm looking for. Thanks for your help!
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The easiest way to determine what rent should be is to search for one bedroom units in your area and charge less than that. One bedroom units are the market space you will be competing in. If your rents are the same as an apartment complex the tenants would more than likely move to an apartment to not have to share space with anyone. I used this method in college when subletting rooms to roommates. We would split utilities evenly and if anyone wanted a private bathroom they would pay a more for that. Does that answer your question?