Mid-Term Rental Strategy: Rent By Room

[Willie Creear III]

I currently own a Mid-Term rental located in Greater Seattle. One of the strategies I picked up early to utilize was renting by the room. Through trial & error I have learned how to support this specific rental strategy but it can take a bit more attention for those who self-manage.

Although I love the concept, I do want to explore with other strategies as I expand my residential portfolio. What has been some of the best strategies for your Rent By Room? How do you support your tenants with operations and techniques that helps you be successful? Is there specific layout of properties that help you be successful instead of forcing the issue on any property?

IG: @MattPriestJr

[Sherief Elbassuoni]

Quote from @Willie Creear III:

I currently own a Mid-Term rental located in Greater Seattle. One of the strategies I picked up early to utilize was renting by the room. Through trial & error I have learned how to support this specific rental strategy but it can take a bit more attention for those who self-manage.

Although I love the concept, I do want to explore with other strategies as I expand my residential portfolio. What has been some of the best strategies for your Rent By Room? How do you support your tenants with operations and techniques that helps you be successful? Is there specific layout of properties that help you be successful instead of forcing the issue on any property?

IG: @MattPriestJr

 I have properties that I rent by the room in King/Pierce/Snohomish Counties.

Many pro tips.

For heating, I use Nest Thermostat and "lock" the temperature on 68 degrees. 

I set up rules for cleaning dishes

I set up rules for quite hours

i set up rules for having guests/friends to visit