Strongsville, OH · Member since 2017 · 7 posts · 0 votes
Hi-
I am considering purchasing a 5 bedroom house in West Park to rent out. Most rental homes in this area are smaller (i.e. 3 bedroom), does anyone have any experience renting larger homes to families in this area? Given that the home is larger, is it difficult to find families to rent in this type of neighborhood?
I don't see a problem with renting out a bigger house in that area. its close to 90, 480, 71.. less than 15 from downtown. what are you looking to rent it out for?
Your going to find that it's not your typical family of 2 adults and 3kids. It's going to be like a huge family that wants to move in. And then there goes your water and sewer costs sky high.
My hesitation is that the house is designed for a bigger family. The neighborhood that the house is in is not necessarily attractive for family life (underwhelming schools, lots of bars). I am wondering if anyone has had good or bad experiences trying to get families to rent in this area.
I've always been advised to stick with 3/2's and 3/1's in some cities. Just more people looking for those overall. Not as many big families anymore. And I've also been told never buy the "unique" or oddball house in the neighborhood. But maybe a 5 bedrrom not so unique in that neighborhood? I'm interested to see what locals say about this.
I can imagine the demand is significantly less for a property like that, especially if the schools and such arent' so attractive. And Aside from the water and sewer costs that Frederico mentioned, you're going to have some serious wear and tear with likely 4+ kids. And if it's a bunch of kids then you probably want to assume fresh paint/carpet every time you turn tenants. Though, that said, a family that would want that type of house is likely the type of tenant that would stay a while if it's hard to find similar properties.
I am considering purchasing a 5 bedroom house in West Park to rent out. Most rental homes in this area are smaller (i.e. 3 bedroom), does anyone have any experience renting larger homes to families in this area? Given that the home is larger, is it difficult to find families to rent in this type of neighborhood?
Thanks for your help!
I've got a 5 bedroom house in the neighborhood that we decked out. Stainless steel appliances, granite countertops, refinished hardwoods etc....We've been renting it to a group of three 20 somethings for $1,500 the last 2 or 3 years. It's been great. That's your primary rental demo over there. 20 somethings, not really families. The bar scene Makes it very attractive for groups of 20 somethings that have good jobs & want a nice lifestyle home.