Rent by the room in Richmond? / Other successful strategies

[Sebastian Durden]

Hey all, occasional poster and frequent reader here! 

I have two properties in markets outside of the Richmond area that are rent by the room. They are doing quite well and I think the strategy is really strong. As a Virginia native I have turned my attention towards Richmond, VA as I love the city and started doing my RE research.

I was wondering if anyone in this group has done 'Rent by the Room' in Richmond? 

Is it popular outside of university students? 

Are there other strategies folks have found to work well? 

Thanks so much in advance! Looking forward to getting to know everyone in the Richmond community. 

[Sebastian Durden]

Hi @Jonathan Klemm - thanks for the intro! I will reach out to him. 

I actually don't use bungalow in my properties. I furnish the common areas and residents bring their own room stuff...I find that makes their leases a bit stickier. The furnishing of the common area are super basic. The goal is to design a highly functional and comfortable living space that is simple to maintain and gives everyone their own dedicated space. 

@Logan Ryan - let's see what we can find!