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!!
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.
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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