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Marketing Your Property

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Chioma Mordi
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How do I go about marketing and setting up my properties for renting by the room?

Chioma Mordi
Posted Feb 8 2024, 18:50

Hello! So me and my mom run STRs in the Houston, Katy and Galveston area. These aren’t very steady income and we’re looking to transition into longer term rentals. We want to try the rent per room long term strategy, but aren’t sure what next to do in terms of finding tenants and setting up leases and things like that. The houses are fully furnished as well. If any local Houston investors or realtors could point me in the right direction that’d be appreciated. Thank you in advance! 

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Matthew Masoud
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  • Investor
  • Dayton/Cincinnati/Columbus
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Matthew Masoud
Pro Member
  • Investor
  • Dayton/Cincinnati/Columbus
Replied Feb 8 2024, 19:00

I've had ridiculous success with Facebook Marketplace. Make sure you're screening well. Most inquiries are not qualified. 

Friendly reminder to be aware of all the extra management tasks for rent by the room. I own a 5 bedroom myself that I do it with and it can be a nightmare if not managed properly. 

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Carla Gordon
  • Real Estate Agent
  • Houston, TX
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Carla Gordon
  • Real Estate Agent
  • Houston, TX
Replied Feb 9 2024, 05:49

Hi Chioma! Have you looked into PadSplit? Also have you considered MTR since it’s furnished? Could post on furnished finder

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Asif Kabani
  • Real Estate Agent
  • Central Virginia
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Asif Kabani
  • Real Estate Agent
  • Central Virginia
Replied Feb 9 2024, 10:24
Quote from @Chioma Mordi:

Hello! So me and my mom run STRs in the Houston, Katy and Galveston area. These aren’t very steady income and we’re looking to transition into longer term rentals. We want to try the rent per room long term strategy, but aren’t sure what next to do in terms of finding tenants and setting up leases and things like that. The houses are fully furnished as well. If any local Houston investors or realtors could point me in the right direction that’d be appreciated. Thank you in advance! 

Hey there! Transitioning from STRs to long-term furnished rentals sounds great! To attract ideal tenants, analyze local demand and optimize your listings with clear photos & amenity highlights. Target platforms like furnishedfinder.com, Apartments.com, & corporate housing sites. Partner with a property manager for seamless leasing & management. Don't forget to network with local realtors & ensure legal compliance. Good luck finding success!

  • Real Estate Agent Virginia (#0225262891)

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Jay Thomas
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Jay Thomas
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Replied Feb 9 2024, 11:28

Hey there! First, check out what people want and what others are charging in your area. Make sure you know the rules. When you're picking folks to rent to, be strict – check their credit and make a clear rental agreement. When it comes to telling people about your place, use websites like Zillow Rentals and take good pictures. To keep things running smoothly, talk openly with your tenants, keep the place in good shape, and maybe get some help from a property management company. If you're doing this in Houston, connect with local folks, talk to experts about the rules, and think about joining groups where landlords share tips.

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Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
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Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
Replied Feb 9 2024, 11:39

@Chioma Mordi, you work with rent-by-the-room companies such as HomeRoom and PadSplit to do this for you. You're asking for a full-time job if you don't source these task items to other vendors. 

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Michael Smythe
Property Manager
#3 Managing Your Property Contributor
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Michael Smythe
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Replied Feb 10 2024, 08:49

Check with your local municipality for their Boarding House requirements, as that is what you are creating.