Good morning everyone. I don't post much here but I read and learn a ton.
I am looking for input. I have the opportunity to buy a former B and B. We are considering renting each room by the month. 1 room would have a private bathroom and the others would not. There would be a common kitchen dinning area and 2 common bathrooms. Does anyone here have experience with this type of rental opportunity? What are positives and negatives? What did you /are you getting for rent? Thank you in advance for your input!
Quick answer, It depends on your city and there is nothing wrong with this.
Rent typically ranges from $500 - $1000 in the Greater Houston Texas and nearby cities.
Better Cash Flow, Lower Vacancy, Potential for a rent increase if the property is well managed.
Cos: Lack of 100% privacy by occupants, potential for housemate conlict, they may not maintain the house properly.
Tenant Screening have to be thorough to avoid roommate conflict with one another, Have a standard Landlord Rules and Regulation to put all occupants in the best behaviour.
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