Renting Out Rooms in Albuquerque New Mexico
Hey Guys,
I have a question about renting out rooms specifically in Albuquerque New Mexico. I’m looking for advice from someone who has experience renting in the Albuquerque area.
My goal is to acquire a single family home under an FHA loan in the NE Heights here in Albuquerque. My question is should I rent out the spare bedrooms? Is there even a market to rent out bedrooms in Albuquerque? I know this would be a great option if I were to buy a property near UNM, because than I could rent to students.
My concern is that there won’t be a demand for people to rent rooms, since studios and one bedroom apartments in Albuquerque are so cheap. The price I’d be trying to charge is 500-600 a room. However for around that same price, someone can have an entire apartment to themselves.
What do you think?
Thanks