What House Hacking Common Problems Encountered

[Jeulissa Gonzales]

Anyone here can tell me what are some common challenges one may face when starting a house hacking or coliving property, and how can they be overcome? Thank you!

[Ryan Thomson]

@Jeulissa Gonzales 

Some common challenges I've seen are below. All of these can be overcome with the right plan and set up:

1. Dishes!! People not doing them is annoying. Set up a chore list. Set an expectation that no one leaves their dishes in the sink. 

2. Drama between tenants. Facilitate conversation and get people to talk like adults.

3. Scaling to the next one. Record your rents on your taxes. 

4.  Tenants not paying on time. Require autopayment set up in the lease. Use Apartments.com to do this. Have a lease in place that gives you some options if tenants aren't paying on time. Enforce late fee everytime to incentivize on time payments.