Should I rent rooms or leave it alone?

Question

Hello all So I'm itching to purchase a property very soon in the Antelope Valley, properties are cheap to purchase. Now I have found a couple houses with many rooms that can possibly be divided up but I'm not sure that that would be the right thing to do. I feel that most of the market is not looking to just rent a room, most people out there are looking to live in a home and have their privacy.
I'm looking for some advise on how to find out how renters are renting in the area and what is preferred so that I can make the right purchase.

Account Closed · Answer

@Daniel Cuevas I can't speak from personal experience but I know several close friends in the AV who are on both sides of the room renting equation. One owns a 4 bed 2 bath home in East Lancaster and rents out 3 of his rooms for between $300-500/month per room. I'm sorry I don't have exact prices. The other is currently renting a room in a large 5 bedroom house in West Palmdale for roughly $400/month.

I definitely think there is a market for people who are just looking to rent a room. Most of these people will come from one of two demographics: (1) young professionals who work in the aerospace industry (Edwards AFB, Northrop Grumman, Lockheed Martin, Boeing) or the medical industry (2) students who attend AV College.

That's just my 2 cents thought.

Let me know if you have any questions, I'd be glad to help!

Frank Lewis · Answer

Hey Daniel,

I have been doing just what you described in the Antelope Valley and it has been working wonderfully so far. In the short time I have been renting out rooms, (6 months) there has been a high turn over rate, but anytime I put an add up on craigslist I have at least 3 people coming to look at it the same day. Depending on what part of the AV you are looking at, your entire property could be marketed easily. But either way you go should fair well. If you have any questions feel free to reach out!