Options for renting out a house

3 Replies

Howdy! My partner & I currently own a 3 bed/3 bath house in the Portland Or area. We are moving out of it and plan on renting it out. We are thinking we could rent it out 1 of 2 ways, either as a single family or rent it out as 3 individual rooms. My gut is telling me that renting it out per room might not be a great idea with potential of more head aches, different personalities etc... Anyone have any experience with this scenario? 

Thanks in advance for any input!!

Hey Greg,

Congrats on the move (hopefully it’s a good thing) and turning your home into a money maker. There is so much that depends on the specifics of your property and situation that’s it hard to give you detailed insight.

In general, you stand to make a little more money renting the rooms individually. I never thought the extra work was worth the difference. Between the deposits, the dispute resolving, the he said/she said game, and the move-out accountability, I much prefer using a solid lease, with tenants who know each other, for a year at a time. 

Are you going to manage it from a distance yourself or use a PM?

If you need suggestions on good ones in the area, please shoot me a message and I’ll give you some advice. 

Thanks,

Mathew

I agree with Mathew. 

Also, have you considered Airbnb-ing? If not the full house, I know of many who have had success airbnb-ing finished basements (with separate access) and guesthouses in Portland.

Thx guys!! I really appreciate the replies.

Might not be the best location for Airbnb, but will look at comps to know for sure.

Mathew I just sent you a message. Thx!

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