Updated about 1 year ago on . Most recent reply
CO Living MTR
I have a 16 unit apartment complex. All are 3BR 3BA. I am thinking of changing the interior doors to smart locks and renting each room out. I will start with one building at a time.
I am wondering if anyone has experience with this. My city does allow month to month rental. I have software that will allow me to send out and reset doorcodes so i dont forsee that as an issue
Most Popular Reply
@Jason Tucker, I'm familiar with co-living single-family homes but not an apartment complex per unit. What do the numbers look like if you were to rent the units out traditionally vs. per bedroom? With this strategy, who would be responsible for utilities? Does each room have its own private bathroom or is there a shared hall bathroom? This could be a great cash-flowing asset but you're also assuming a lot more risk with this structure. I would recommend working with an experienced co-living company such as PadSplit or HomeRoom. I have contacts with each company that I would be more than happy to connect you with. If you are interested, please shoot me an email or text to connect (contact info is listed in my bio). Just curious, where specifically is your apartment complex located?