Nice work turning that into a co-living play. Memphis definitely has pockets where the room-rental model hits strong cash flow, especially when the house layout supports privacy and you’ve got tight systems in place.
Curious what part of the city you're operating in and how you're handling the operational side.
• cleaning and turnovers
• conflict resolution between tenants
• utilities + WiFi management
• screening and house rules
In my experience running volume in Memphis, the success of co-living comes down to whether your systems can maintain stability without the property turning into a full-time management job.
That sounds like a management nightmare. Make sure that you have the right folks involved. Oooh the drama could be made for TV if you don't have the right people in place that can handle it all.
Nice work turning that into a co-living play. Memphis definitely has pockets where the room-rental model hits strong cash flow, especially when the house layout supports privacy and you’ve got tight systems in place.
Curious what part of the city you're operating in and how you're handling the operational side.
• cleaning and turnovers
• conflict resolution between tenants
• utilities + WiFi management
• screening and house rules
In my experience running volume in Memphis, the success of co-living comes down to whether your systems can maintain stability without the property turning into a full-time management job.
@James Jones I agree, I currently have houses in whitehaven, westwood, Raleigh. I think it's all about what type of tenants you allow in. I am very strict on who in allow in. If they are not older, they must work. I give each house a cap on utility usage, anything over I split amongst tenants, I enforce rules, WiFi in charge $25 per person.
@James Jones I agree, I currently have houses in whitehaven, westwood, Raleigh. I think it's all about what type of tenants you allow in. I am very strict on who in allow in. If they are not older, they must work. I give each house a cap on utility usage, anything over I split amongst tenants, I enforce rules, WiFi in charge $25 per person.
Appreciate that. You’re exactly right, co-living only works long-term when the systems run tighter than the tenants do.
In my experience, once you put the right guardrails in place, the model becomes low-touch and predictable. The breakdown I’ve seen is almost always screening + expectations, not the strategy itself.
I like your approach on utility caps and WiFi — that alone removes 80% of the conflict. The biggest levers for stability on my end have been:
• firm house rules with consequences • weekly cleaning so problems never stack • no-nonsense screening (job, schedule, cleanliness, personality fit) • clear boundaries on guests + noise
Memphis can absolutely support this model, but like you said, the quality of the group determines everything. If you keep the standards high, the cash flow stays high.
Appreciate that. You’re exactly right, co-living only works long-term when the systems run tighter than the tenants do.
In my experience, once you put the right guardrails in place, the model becomes low-touch and predictable. The breakdown I’ve seen is almost always screening + expectations, not the strategy itself.
I like your approach on utility caps and WiFi, that alone removes 80% of the conflict. The biggest levers for stability on my end have been:
• firm house rules with consequences • weekly cleaning so problems never stack • no-nonsense screening (job, schedule, cleanliness, personality fit) • clear boundaries on guests + noise
Memphis can absolutely support this model, but like you said, the quality of the group determines everything. If you keep the standards high, the cash flow stays high.
Yes your so right as far as cleaning issues. I learned to installl cameras in the common area like the fridge. For the most part I have great tenants. I also make sure the house is furnished nicely and that gives you a good population of tenants as well. Some people just wants to save for 6-12 months especially with the economy today.
Yes your so right as far as cleaning issues. I learned to installl cameras in the common area like the fridge. For the most part I have great tenants. I also make sure the house is furnished nicely and that gives you a good population of tenants as well. Some people just wants to save for 6-12 months especially with the economy today.
Appreciate you sharing that, sounds like you’ve built a solid rhythm in your houses.
Cameras in the common areas are huge. I do the same in my co-living properties (always in approved areas only) because it eliminates 90% of the “he said/she said” issues and keeps everyone accountable.
And you're absolutely right: furnishing the home well sets the tone for the type of tenant you attract. People take care of environments that feel cared for.
I’ve also noticed the same trend with tenants staying 6–12 months to stack cash, especially in this economy. As long as the systems are tight, those stays actually stabilize the house because they’re focused and goal-oriented.
At the end of the day, like you said, it all comes down to screening + expectations. With the right guardrails, co-living becomes one of the most stable and profitable models out there.