I have questions about setting up a co-living property

Member since 2025 · 3 posts · 1 vote

I am new here and considering buying a property then renting out the rooms in a college area. I have questions about how to find data about demand and how to price the rooms. I was searching here in BP for a forum category for co-living, but didn't see one. Where should I post these kinds of questions? This is an area near a community college, so there is no housing office and no student housing available.

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Daniel TanasaBusiness Member

Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes

10mo

Quote from @Kristin Hayles:

Thanks for the suggestions! I have learned the area I want to do this in is mostly HOA restricted and coliving is not allowed, unfortunately. However the wording in the covenants is not very specific. All it says is the property is for single-family use. It does not specifically say no co-living arrangements. I wanted to buy a house and rent one room to my daughter at a discount, then rent the other two or three rooms to others.

Hello Kristin,

If the HOA finds out about it they will give you a hard time. I would suggest finding something outside of an HOA for this strategy.

As far as pricing you can also look into platforms like PadSplit to see how much they are charging per week in the area. I mostly see prices between $150 to $175 per week, but that will be area dependent.

Good luck!

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Denise SuppleeBusiness Member
Realtor · Willow Grove, PA · Member since 2017 · 979 posts · 642 votes
10mo
Hi @Kristin Hayles, you could post this in the "Other strategies" topic, I saw a lot of similar questions there, maybe you'll get some ideas looking at other answers to posts in that topic in the BP forum.
For room-by-room rentals near a college, I'd say gauge demand by checking Facebook housing groups, local rental listings, and what individual rooms are going for on platforms like Zillow or Craigslist. You can usually get a feel for price ranges pretty quickly. Even without a housing office, community colleges often have bulletin boards or online student groups where housing gets posted, which can help you see what's actually moving.
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Kristin HaylesPro Member
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Member since 2025 · 3 posts · 1 vote
10mo
Thanks for the suggestions! I have learned the area I want to do this in is mostly HOA restricted and coliving is not allowed, unfortunately. However the wording in the covenants is not very specific. All it says is the property is for single-family use. It does not specifically say no co-living arrangements. I wanted to buy a house and rent one room to my daughter at a discount, then rent the other two or three rooms to others.
1 Reply
- Daniel TanasaBusiness Member
  Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes
  10mo
  Quote from @Kristin Hayles:
  
  Thanks for the suggestions! I have learned the area I want to do this in is mostly HOA restricted and coliving is not allowed, unfortunately. However the wording in the covenants is not very specific. All it says is the property is for single-family use. It does not specifically say no co-living arrangements. I wanted to buy a house and rent one room to my daughter at a discount, then rent the other two or three rooms to others.
  
  Hello Kristin,
  If the HOA finds out about it they will give you a hard time. I would suggest finding something outside of an HOA for this strategy.
  As far as pricing you can also look into platforms like PadSplit to see how much they are charging per week in the area. I mostly see prices between $150 to $175 per week, but that will be area dependent.
  Good luck!
  1 Reply
- Roberto Reyna
  Lender · Houston, TX · Member since 2025 · 35 posts · 24 votes
  9mo
  Quote from @Daniel Tanasa:
  
  Quote from @Kristin Hayles:
  
  Thanks for the suggestions! I have learned the area I want to do this in is mostly HOA restricted and coliving is not allowed, unfortunately. However the wording in the covenants is not very specific. All it says is the property is for single-family use. It does not specifically say no co-living arrangements. I wanted to buy a house and rent one room to my daughter at a discount, then rent the other two or three rooms to others.
  
  Hello Kristin,
  If the HOA finds out about it they will give you a hard time. I would suggest finding something outside of an HOA for this strategy.
  As far as pricing you can also look into platforms like PadSplit to see how much they are charging per week in the area. I mostly see prices between $150 to $175 per week, but that will be area dependent.
  Good luck!
  
  I can vouch for Daniel, he's a major expert here in Houston. Highly recommend shooting him a DM or giving him a call!
  1 Reply
- Daniel TanasaBusiness Member
  Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes
  9mo
  Quote from @Roberto Reyna:
  
  Quote from @Daniel Tanasa:
  
  Quote from @Kristin Hayles:
  
  Thanks for the suggestions! I have learned the area I want to do this in is mostly HOA restricted and coliving is not allowed, unfortunately. However the wording in the covenants is not very specific. All it says is the property is for single-family use. It does not specifically say no co-living arrangements. I wanted to buy a house and rent one room to my daughter at a discount, then rent the other two or three rooms to others.
  
  Hello Kristin,
  If the HOA finds out about it they will give you a hard time. I would suggest finding something outside of an HOA for this strategy.
  As far as pricing you can also look into platforms like PadSplit to see how much they are charging per week in the area. I mostly see prices between $150 to $175 per week, but that will be area dependent.
  Good luck!
  
  I can vouch for Daniel, he's a major expert here in Houston. Highly recommend shooting him a DM or giving him a call!
  
  Thank you Roberto!
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