All Forum Posts by: Chelsey Coleman

Hey @Chelsey Coleman, well it sounds like you could do it that way.

I would first start with locks on all the interior doors where you don't want the room occupant to go. Block the garage as well.

One bathroom, the bedroom and the main areas of the house. Restrict to secondary family rooms etc.

At least you can keep things narrowed down to assure less wear and tear on the whole place.

Hey @Chelsey Coleman, Ok let's back up a second. You have a fully furnished home and are only going to rent a single room?

Why not just do the whole house? It will do better than a single room. Have you checked the regs around STRs where it is located? I would start there to make sure you can STR the place.

It doesn't make any sense to rent a single room at a single room rate when there is a whole, empty house involved. You should look into renting the whole place.

I am guessing that trying to self manage from a distance is making you nervous? I will tell you that doing the whole house vs the room is about the same IMHO. 

@Chelsey Coleman My husband and I have a guest room that we mostly rent mid term to visiting scholars, interns and students. Between those rentals we will list it on Airbnb for vacationers. 

The short term rentals are a lot more work than the mid term rentals but it is a nice mix.

Since we are sharing our home, we have a home sharing agreement that our guest signs for the mid term rentals. It covers everything from the specific start and end dates, quiet hours, common space sharing, overnight guests, etc. 

Keep in mind that month+ rentals are usually covered by state laws governing tenant / landlord rights and responsibilities. In the eyes of the law, any legal conflict between you and your guest will be treated as a landlord / tenant conflict even if the rental is a room in your own home.  

Hey @Chelsey Coleman, so you need to spend a ton of time on the forum and start reading.

Everything you need to know is right here.

A room rental is simpler (in general) than a whole house.

Are you comfortable having someone wandering around your house? Sharing a bathroom and kitchen?

@Chelsey Coleman Sounds like a good plan! I've been using a fantastic property manager and agent there in OKC for a few years now. Happy to connect you with them. I believe they do local meetups as well! That would be a great way for you to connect with other local investors. 

Welcome to bigger pockets! I own property in Oklahoma (OKC and Tulsa) and I think its a great market. 

Have you and you husband determined your investing goals yet? What do you want your lives to look like in 5-10 years?