Hi All:
I was wondering if anyone in the area has experience with room rentals and can share some insight on their experience.
In October of last year I purchased a 3 family in Shelton, CT. It has 2 single units and a 5br 2bth that is rented by room. Thankfully everything has gone smoothly so far. 4 out of the 5 rooms were filled when purchased and only 1 has moved out. I haven't had any problems filling rooms as it is now 100% full. Only issue is that these rooms are month to month so there is some turnover. I have 2 moving out at the end of month (thankfully it is summer).
If anyone can share some insight on the following:
1.) Is your screening process as vigorous as a single unit
2.) Is the eviction process higher/lower/same difficulty level as a single unit
3.) Is the lease roughly the same as a single unit lease
4.) How do you deal with internal conflicts among tenants (cleanliness in common areas, noise, etc.)
Any other comments/info would be greatly appreciated!
Thanks!!
Warren Juall
