All Forum Posts by: Clara Arroyave

Up and running:

Decide if furnished or unfurnished? If furnished then set up.

Decide how you want to handle utilities (included or shared)

What kind of roommate do you want - what would your offer look like?

Once you decide:

Take photos  - create the write up

List in the places you want to find your ideal client -roommate

Interview the people you'll be comfortable having at your home.

Lease and repeat!

First one would be Zillow Rooms - in terms of range and scope of audience.

If you want to be formal and have great photos then try on coliving.com

Also I believe that booking.com allows it. 

You can also try roomiapp - leasebreak.com - there are tons of options.

 That is awesome, glad to hear you are 100% occupied.

 I use a regular lease but add a room leasing addendum that include some house rules and penalties, you can have it if you want. Send me a DM. 

 Definitely no pets. 

The wear and tear on hardwood floor - carpets has no recourse beyond the deposit damage if there is pee or replacement costs needed. If this is your first unit, try to make it as seamlessly as possible for you and for the tenant. 

Totally agreed with @RonBrady

Let her know that the space is co.ed and that you will be open to find a female tenant but that you cannot limit yourself to it. Its her choice to apply or not. 

When selecting roommates or tenants for coliving they must be flexible regarding tenants that you carefully vet in other terms, but gender is something that I've learned the hard way to not consider as a criteria.

Let us know how it goes.  

@Luciano A. please DM me your email and I'll send you a copy you can adapt to your needs. 

Also I'd like to know more about the market in Houston if you have the time. 

@Jason O.

I've rented to over 700 students (under and grad) and I understand the market well.

To do it successfully: time it with the academic calendar

Sept to May: flat price including utilities and furniture for max revenue, can include a cleaning service to keep an eye on the rental.

May to Aug: depends on your city density and the amount of summer classes, increase the price to accommodate the demand or decrease it accordingly. Account for increased A/C costs and manage the rental agreement to avoid parties. 

Also some employers offer summer internships so its useful to list it and target those students as well. 

You must likely will be able to double your revenue if you lease by the room if the room count is 4 or more. 

Best of luck, here for advice!.

Clara

 There are several lease addendums available, if you cannot find one email me and I'll send you one.

Congrats on the house hacking!