House Hacking and Roommate Questions

[Robert Love]

Hello, BP friends,

I am new to real estate investing, and I am going to house hack a 4/2.  I am looking for 2 roommates.  I am also looking for additional roommates for a 4/3 home that I own.  Currently, one person is there, and I will find 3 additional roommates.  I have several questions and would appreciate anyone's insight.

1. Do you recommend midterm or long term tenants?

2. What platforms have you successfully used to find good roommates?  I am in Northern California, Sacramento region.

3. What are some ways that you set criteria in your listings that will help ensure you get tenants who are reliable, responsible, tidy, and considerate?

4. What are some house rules you have put in place to ensure harmony and order in the home? I am especially thinking about the 4/3 because four parties in one home is a lot. What can make this work so everyone benefits?

5. What procedures are in place for the common areas of the house?

6. What extras do you provide so tenants are happy and order is maintained (e.g., hiring a housekeeper to come in once a week, providing internet, sharing or not sharing utilities, extra refrigerators, etc.)?

7. In general, what makes your tenants happy and satisfied with the living arrangement?

Thank you for your insights.  Cheers!

[Julien Jeannot]

1 - depends what you are comfortable with and your strategy. Long term you get less vacancies. Short term will attract a different type of roommate.

2 - Facebook

3 - Check out their social media, other then that an interview and my typical rental criteria: 3x the rent, credit score, background checks, etc. Show them the house rules up front.

4 - 10 areas I'd consider:

Communication is Key: Regularly communicate about schedules, guests, and any concerns to ensure everyone is on the same page.

Clean Up After Yourself: Keep common areas tidy by cleaning up your own messes promptly. Wash dishes, wipe counters, and put away personal belongings.

Respect Quiet Hours: Establish quiet hours during which noise should be minimized, especially if roommates have different schedules.

Guest Policy: Set clear guidelines for having guests over, including limits on the number of visitors and advance notice for overnight guests.

Shared Expenses: Agree on how to split shared expenses such as utilities, cleaning supplies, and common area maintenance.

Chores Rotation: Create a rotating chore schedule to evenly distribute responsibilities like cleaning, taking out the trash, and maintaining shared spaces.

Respect Personal Space: Honor each other's privacy by respecting closed doors and personal boundaries. Knock before entering bedrooms.

Food Sharing Guidelines: Decide whether to share groceries or keep them separate, and establish rules about borrowing or using each other's food.

Security and Safety: Keep doors locked, and make sure all roommates are aware of emergency procedures, including fire exits and contact information.

Conflict Resolution: If conflicts arise, commit to addressing them calmly and directly. Use open communication to find compromises and maintain a respectful atmosphere.

5 - What do you mean by procedure? Who gets to use the TV when?

6 -  Depends on the property, you have a good list there.

7. Set expectation up front, communication, and conflict resolution.