How to get a waitlist of renters who want to move in to your Co-living

Introduction

As a co-living investor and property manager, I’ve found that traditional tenant screening methods don’t always work in shared living environments. The key to maintaining a thriving co-living space isn’t just about financial qualifications—it’s about building a community of responsible, like-minded individuals. Here’s how I approach screening to ensure a successful and harmonious co-living experience.

Rethinking Financial Requirements

Unlike traditional rentals that rely heavily on credit scores and income verification, I take a different approach. In co-living, financial risk is naturally lower due to shared expenses and flexible lease structures. Instead of strict financial checks, I require only a security deposit and the first month’s rent. This approach lowers barriers for potential tenants while still ensuring financial accountability.

Prioritizing Safety Through Background Checks

While I’m flexible on financials, I don’t compromise on safety. A background check is a must—especially for serious offenses like violent crimes or theft. This helps create a secure environment where all tenants feel comfortable living together.

Evaluating Character and Compatibility

A good co-living experience depends on more than just a clean record—it’s about compatibility. I look at character references from past landlords, employers, and even personal contacts to get a sense of a tenant’s reliability and interpersonal skills. This step helps ensure that new residents align with the values and expectations of the existing community.

The House Tour: A Built-In Compatibility Test

I’ve found that the best way to gauge fit is through in-person interactions. When potential tenants tour the house, they meet existing residents, who often act as informal screeners. If the current tenants feel a strong disconnect, that feedback is crucial. This organic approach fosters a community where people genuinely get along.

The Chore Board: A Litmus Test for Responsibility

A co-living space thrives on shared responsibility, and one of the simplest ways to reinforce that is a chore board. I make sure it’s prominently displayed, setting clear expectations from day one. Those who are open to shared responsibilities usually integrate well, while those who resist the idea tend to opt out early.

Final Thoughts: Creating a Cohesive Community

Co-living isn’t just about renting a room—it’s about being part of a community. By prioritizing safety, character, and communal responsibility over rigid financial checks, I’ve been able to attract tenants who contribute positively to the space. This approach keeps my properties not only occupied but thriving, with a strong sense of camaraderie and mutual respect among residents.