Is anyone currently do house hacking? Do you pay the utilities or u let the tenants take care of it? And do you have to go through all the screening and application just like an apartment rental for the tenant? I'm totally new to this. Thank you!
Depend on property, hopefully property has separate utilities and each units pays for their own. If you are house hacking with shared space (single family) you may have to cover utilities but I would estimate into monthly rent. My house hacks are MFR with separate utilities so tenants pay for their own gas and electric. I pay for water.
@Nhi V Le I am currently house hacking a side by side duplex. Each units have completely separate utilities (water,gas,electric). So all I pay is for my side and the tenant pays for their side. As far as screening, you have to do all the tenant screening and application process the same way as you would if you weren't living in the building.
@JordanBochner I also live in Dayton, OH and on the hunt for a property to flip and house hack. Right now I'm on the road constantly. So looking through Zillow, fedfin, realtor is all I can do. Anyway it's great to see that I can learn from someone also live in the area. Thanks Jordan!
@Nhi V Le House hacking is very doable in Dayton. My one suggestion, if you haven't been to the meet up in Fariborn, you should totally go!
I own 8 units in Dayton, I tried a house hack when I didn't know anything several years ago. It did not go well, but I learned a lot. With some advice you will easily be able to find a successful house hack.
I've been house hacking a couple years in a shared space. The first year I tried splitting the utilities every month, but it made asking for those numbers each month a hassle. I just bumped the rent up to cover the difference and listed it as all utilities included which is actually more appealing to some people! Living in the house also allows you to monitor usage and try to keep the costs lower if you need to.
Currently house hacking a duplex. Ours was originally a SFH, so the utilities aren't completely separate. Tenant pays for his electric and gas for stove, we pay all other utilities (our electric, gas (including furnace, water/sewer).
If your utilities are separate, definitely have the tenant pay. If they’re not, you can bill the tenant for utilities or just include them in the rent.
100% screen the tenant(s) as you would any rental. This is probably even more important since you are the neighbor and you want to give yourself a good neighbor!
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