Rental Property Investor · Chalfont, PA · Member since 2021 · 190 posts · 90 votes
Hello,
I'm about to close on a new build Townhome near downtown Charlotte NC. Its beautiful three bedroom 3.5 BR and I think it would be great to rent each room out and bring higher revenue. However, I live in PA so I can't manage it. My current PM has no experience renting by the room. Hoping someone on here from Charlotte knows someone or has experience. thanks, Brian
Hey Brian, I own and run a PM company in CLT but don't personally know anyone that manages rent by room situations. However, I'd love to chat to discuss your goals on this property and see if we can assist in finding a match.
@Jamie Banks I am open to options that generate more revenue than one long term renter. I would consider furnishing if it makes sense to do so. I know some States have embraced renting by the room because individual rents are too high, I know Charlotte rents have been climbing and thought this would be a good angle.
I self manage and rent out by-the-room a few SFHs in Charlotte. I would suggest furnishing common areas. Things like couches, side tables, lamps, dining room table, rug, and some cheap artwork for the walls. This helps with pictures and viewings so there isn't an old, stained couch that a tenant has been keeping since college.
@Eric Nelson Would you mind sharing your experience so far with the rent by room model. Pros/cons, turnover, disputes between tenants? I'll send a request to connect if you prefer messaging .
@Wendell Butler - Hey Wendell, I know you play in this market. Know anyone?
I unfortunately don’t know any PM’s that do rent by room, but you shouldn’t have much difficulty filling them. Utilize Facebook posts and if you price correctly based on location it should fill fast. I would also recommend furnishing common areas as well, maybe even a bed in the rooms too.