How to Rent out rooms under one roof.

Question

I am really interested in learning about renting out individual rooms out to professionals and possibly students, under one roof. Not sure the term of this strategy.

What books or other resources do you recommend to learn this strategy?

Thank you!

John Underwood · Answer

This just seems like asking for trouble.

Students maybe, if each room has their own bathroom.

Otherwise I could see this as a powder keg for potential drama.

Jonathan Klemm · Answer

Hey Account Closed - There isn't anything special about renting the room except it will take more work and you'll get a bit more cash flow.  Generally, speaking all the legalities are the same here in Chicago so I am sure it's the same way in Naperville.

Unless you are going to set this up as a business and try to do it at scale I wouldn't recommend it.

If you haven't check out Bungalow which is a platform for rent by the room:  https://bungalow.com/rooms-for-rent/chicago

Victor So · Answer

Hi Marie, I have several properties in the city of Chicago where I rent by room. Shoot me a DM and I can give you some insight into the pros/cons of this and share some of the systems I’ve created. To get started, I read Craig Curelop and Ben Leybovich’s house hacking books.

Julie Garner · Answer

If you're close to the Naperville train stations and want to go the room renting route, see if the Amtrak Chicago hub will put up a notice for you.  A lot of the train workers are gone most of the month on assignments.  The bonus is that they've already been screened for drug use, have union jobs that are almost impossible to lose, and they're used to working with each other.

How to Rent out rooms under one roof.

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