All Forum Posts by: Maxwell Anyimah-mensah

TLDR: I seek input on roommate rooms in a house hack situation.

I am a Seattle-based investor, and all my properties are house-hacking situations, now called Co-living spaces.

I am currently focusing on creating a more professional template for “Rules and Regulations” as well as processes and procedures.

Can anybody here share the rules or some of the rules they have in place in their roommate agreement or Co-living membership rules?

Thank you for chiming in.

Your input is very appreciated.

@Matt M Antonio, Following up after almost 2 years to see if you came up with a decent template.

@Elena C. A few Quick questions:

1.Are the rents under market rates or are they market rates?

2. Do you have any room to add value or make any improvements that would enable you to increase your rent rates?

Hi @Essien , Congratulations on your mile stone. 10 years ago I was in your shoes in Lynnwood, Trying to figure all of that out myself as well. Fast forward to now and a few more properties later. I have learnt a thing or two along the way.

Cozy is a great tool for what you are trying to do. It certainly streamlines the process of rent and utility payments as well as communication.

Reach out to me if you have any other questions.  Especially running background checks and bringing in new tenants.  Screening is everything.  

@Judy P. So it’s seems like you have quite the conundrum on your hands. He is not in the mood to pay the increase or vacate, and you are not in the mood to evict. Seems like this problem will get solved as soon as one of you gets in the mood. Since you are the landlord and you have more skin in the game, May I humbly suggest that YOU GET IN THE MOOD AS QUICKLY AS POSSIBLE? That might fix the “mood” issue thereby solving SIGN OR VACATE issue.

@Levi McDaniel, just curious for an update. Did you end up purchasing the property?

@Joel Nobles, I totally agree with @Account Closed, The timing is a little hard right now to find a "Great/Good contractor", my best guy who became my tenant still doesn't have time to work on my projects and although I am happy for him the situation is not conducive at the moment.  But i also believe you might be able to circumvent that whole situation by using sub-contractors and vendors.

Let me know what you thoughts are on that.

I own a couple of shared housing properties in the general Seattle area. Most of these started as house hacks then moved out and now manage them myself.

I am trying come up with  a one page rule or guideline form as an addendum for the roommates to sign when they move in or renew their leases. So far i have every tenant on a month to month lease fairly under market rents, so i do have a little bit of room to institute some fair but also firm guidelines for residents with raising rents or loosing my awesome tenants.

Please let me know if you have dealt with something similar to this, an advice and or a temple example will be great too.

Thanks in advance for your contribution 

I just got home from dealing with parking issues at one of my rentals in an HOA. Here are the two things I would do if I were in your shoes. 1. Send an email with a time stamped picture to the HOA just for reference (no action necessary) but just Incase it becomes an issue, you will have a point of reference or references. 2. Have a gentle but firm conversation with the neighbor, let them know what you intend to do with the property, what your expectations are of him and what his expectations can be of you (even if it’s just about parking). Hopefully this two steps will go a long way to resolve any future issues that are similar to this. All the best.

Evernote (free version) was a great app when ran it across multiple devices, It is now restricted to only two devices for free but if you can pay for it. You would find it very useful and user friendly.