Rooming Houses; Worth the hassle?

2 Replies

I had a boarding house in the past that did quite well. Tenants paid weekly in cash and I made a lot more than I did when it was rented to a single tenant. The only problem was that it took too much of my time to manage it and I decided to just go back to a section 8 tenant. If you do it just go in knowing you will have to be there everyday to manage the tenants.

@Melba Chambers  

It can be lucrative, just may take a while to find the ideal tenants. I would also look to do it in a 3-4 multi unit as its a lot more profitable in that regard with the same type of mortgage payment. With the right tenants you dont have to manage as often. Just need to establish rules in place prior to renting out rooms.