Renter capacity in a 4/2?

[Austin McCasland]

Has anyone found success in renting to four tenants in a 4/2 house?  Any complications  that make you think doing a 2 tenant max would be a better option?  What strategies have you found effective at increasing renter capacity other than increasing square footage?

Thanks in advance! Love y’all!

[Jamie Banks]

I think it’ll all depend on if the renters are related / traveling together or not. In my personal experience, renting by the room is most successful when each person has their own bathroom. However, if you rent the 4 bedroom to a family, for example, or a group of digital nomads, travel nurses, etc you will have better luck. 

[Austin McCasland]

Quote from @Jamie Banks:

I think it’ll all depend on if the renters are related / traveling together or not. In my personal experience, renting by the room is most successful when each person has their own bathroom. However, if you rent the 4 bedroom to a family, for example, or a group of digital nomads, travel nurses, etc you will have better luck. 

Thank you for the input! Yes, I could see the lack of bathrooms could present a problem in the “rent by the room“ model. I’ll be sure to keep my options open

[Jamie Banks]

@Austin McCasland I’d imagine being in the Dallas TX area you’d have a good amount of corporate demand and insurance relocation clients. Larger homes are great for housing displaced or relocating families! Make sure you network with real estate agents they generally know of families moving to / from the area that need furnished housing for a few months at a time.

[Austin McCasland]

Great point. What size portfolio would you recommend before reaching out to hospital HR to percent yourself as a housing solution for their traveling employees?

[Jamie Banks]

You can start the process with just one! I had two properties that I set up at once and I directly started reaching out to corporations, agencies, etc. There are some that will give you feedback that they prefer to work with providers who have 5+ units but it’s still great to start the relationship now. I’ve had more luck targeting smaller relocation companies and placement companies who are local to the areas that I operate in. 

[Austin McCasland]

Quote from @Jamie Banks:

You can start the process with just one! I had two properties that I set up at once and I directly started reaching out to corporations, agencies, etc. There are some that will give you feedback that they prefer to work with providers who have 5+ units but it’s still great to start the relationship now. I’ve had more luck targeting smaller relocation companies and placement companies who are local to the areas that I operate in. 

Excellent. In your experience, what has been the primary concern or focus the corporations, relocation agencies, etc. Bring to your attention when verifying your properties?

[Allen Duan]

Depending on the bed situation, 2 people per bedroom is fine. You'll need a king, queen, or 2 twins to sleep 2 to a room. But think about who you're targeting. A large family could use this layout. Perhaps college students or coworkers who know each other will be ok sharing bathrooms.

[John Morgan]

@Austin McCasland

I’ve got a few I rent by the room. I throw in a bunch of strangers and just hope they don’t kill each other. Lol. So far so good. Huge demand for people renting by the room. And one house has 4 bedrooms sharing one bathroom. I charge $800/month at that house and can fill those rooms within 24 hours after listing them.

[Don Konipol]

Quote from @Austin McCasland:

Has anyone found success in renting to four tenants in a 4/2 house?  Any complications  that make you think doing a 2 tenant max would be a better option?  What strategies have you found effective at increasing renter capacity other than increasing square footage?

Thanks in advance! Love y’all!

Are you talking about four individuals who don’t know each other, so they’re “renting a room”, or a single tenant that consists of 4 people?  When my family gets together, we have as many a six couples and often rent 2 houses.  

[Austin McCasland]

Quote from @Don Konipol:

Quote from @Austin McCasland:

Has anyone found success in renting to four tenants in a 4/2 house?  Any complications  that make you think doing a 2 tenant max would be a better option?  What strategies have you found effective at increasing renter capacity other than increasing square footage?

Thanks in advance! Love y’all!

Are you talking about four individuals who don’t know each other, so they’re “renting a room”, or a single tenant that consists of 4 people?  When my family gets together, we have as many a six couples and often rent 2 houses.  

My thought was for individual parties, but will depend on the demand

[Lucia Rushton]

@Austin McCasland the other option is renting two rooms to one person (bedroom and office or private living room) and they have their own bathroom. each home can be suitable to Rent by the room and others are not. just my opinion