Renting by the Room - Who's doing this and tips on being successful

Renting by the Room - Who's doing this and tips on being successful

Investor · Augusta · Member since 2025 · 5 posts · 6 votes

I just bought my first Investment piece in Augusta, GA - 3000sqft- 6 rooms - 3.5 bath (was sold as a 4 bed/2.5 bath) currently in the process of Renovating and certainly don't want to wait until I am completely finished to start filling rooms. I will be including all Utilities + W/D+ Internet

How are you guys filling rooms? advertising methods - Screening etc. etc.

How are you determining the room prices? ( I'm leaning towards minus 30% of market rents is appropriate-but share what you do)

Anything else that i might be missing...?

TIA :-)

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  • Lender · Charlotte, NC · Member since 2024 · 58 posts · 19 votes
    1y

    While I use a management company now; before, I was self-managing and found that: Roomies, Zillow, Google, were all ok but Facebook and PadSplit was the best for conversion. 

  • Lender · Charlotte, NC · Member since 2024 · 58 posts · 19 votes
    1y

    I would highly recommend running test ads at several price ranges to find what the market would pay. 
    More importantly make sure you have your house rules, agreements, and home organization set up to make things smooth for all your tenants. 

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