Originally posted by @Krista Kennedy:
Hi all,
Are there any investors doing rent by the room in Baltimore City? Would love to understand your management structure. Are there local PMs who will manage this type of set up or are these typically owner-managed? I’m a big believer in the co-living model, but of course there is a layer of complexity with housemate dynamics that requires thoughtful oversight. Would love to hear how others are handling this.
Legally in Baltimore city you can rent to 4 unrelated individuals in one unit, not including the owner. So if you live there, you can rent it out to 4 unrelated people not including yourself.
Anytime someone reaches out to me regarding a room-for-rent, I ask a simple question. "Tell me about yourself." Let them talk, they may mention something that makes them a great fit, or a bad fit. Since I live in my househack, I can legally filter out those who may not be the best fit. For instance, "hey, sorry we don't rent to couples, since we have a couple students quietly studying here."
That being said - most PMs will not jump out of their seat to manage a househack. 2-4 unrelated people living together from different backgrounds = entropy, but is highly effective if tenant screening is done right from the beginning.
Hope this helps and best of luck to you
