Doubling rents by renting out single rooms

[@michaelm9621]

I must say you have the best channel for room-to-rent info. Thank you for what you do.

[@adivax3]

Hey this was a great video…very informative! Glad I found this channel. I just bought a house and looking to make it a rooming house. A lot great information…didn’t think about city/county codes. Also, considering renting to vets…thank you 🙏🏾😊

[@ThePropertyPastor]

Glad you enjoyed the video. Thanks for tuning in- wishing you the best

[@selfmadeforever]

I have a 3/2 I’m only living one room the other two rooms I want to rent to a single mom only I want to do it but I don’t want nobody baby daddy coming round my way with drama but I got 2 rooms and a bathroom that I want to rent out in Jax Florida..it’s a single wide mobile home by the way in great condition

[@carloscabrera8591]

Awesome video. I have a 5 bed 3.5 bath sfh in Southern California that I plan to rent out by the room. A little nervous to pull the trigger due to California laws being tenant friendly. I guess scared money don’t make no money right?

[@nicksantangelo9083]

Me and my best friend run an airline crashpad that nets $3,300 a month and we see depending on the month between $1800-$1900 a month in profit. Looking to do another one asap. It’s such a cash cow!

[@ThePropertyPastor]

Sounds like a great setup!

[@LuceroDelgado-ip3oi]

by airline crashpad. is this just a home near the airport?

[@ddemier]

​@@ThePropertyPastorwe need details. I have an airport near me. It's a small airport

[@letstalksuccess580]

Awesome insight. Thank you

[@ThePropertyPastor]

Glad it was helpful!

[@labellt9717]

Really enjoyed your presentation! Gr8t tips!

[@MakindyJoseph]

Thank you so much for doing this video! God bless you man! 🙌🏾😇

[@ThePropertyPastor]

My pleasure!!

[@miami2743]

Thank you ! Great information

[@diamonddejeau4699]

Thank you for your insight..😊

[@ThePropertyPastor]

Any time!

[@AirbnbRentalEmpire]

Informative stuff, keep it up!

[@ThePropertyPastor]

Thanks for check out the video!!

[@teemmm538]

Thanks, great information 👍

[@ThePropertyPastor]

Glad it was helpful!!!

[@journeywithsoul]

Thanks for bringing up that city coding factor. that almost slipped me. I recently purchased a Townhome 3br & ran it by the HOA but overlooked the possible zoning restrictions. Thankfully I'm in the reno stages at the moment :)

[@ThePropertyPastor]

No problem. Is this your first renovation?

[@TheCatiebrownie]

How did the HOA take your request? Moving to a 2/2 condo and I'd like to rent out the other room. Not sure how to bring it up to HOA.

[@august5films]

Great video

[@ThePropertyPastor]

Thanks!

[@necolabryant3699]

Great insight thank you !

[@ThePropertyPastor]

My pleasure!

[@izi.z2384]

I have a large apartment space within the house. I would like to turn my very large dining room into two room and my dining room into a room, which will be a total of 3 rental units. I have never done any of this before. Can anyone shed some light on best way to do this and resources as well as how to find safe and reliable people to rent in NY.

[@ThePropertyPastor]

Do you own the apartment? I would first make sure that you are able to modify the apartment space. There may be zoning restrictions to consider as well. A great place to start would be your local codes and compliance office. Once you find out the legal side, you would need a contractor to make the modifications. Each person would want to be able to lock their door and secure their belongings at a minimum.

[@diamonddejeau4699]

Hi, do you do a paid back ground check and a monthly lease for the room tenants

[@ThePropertyPastor]

yes we charge an application fee and run background checks. We also set up leases usually 6-12 months. Some folks do them week by week and charge more. We find that longer leases attract better tenants

[@LisaSoulLevelHealing]

Nice video!

[@LuceroDelgado-ip3oi]

Thank you for this great info. Can you mention the property manager you use or where you can find a good one for this type of housing situation. Also where do you advertise your rooms?

[@prettyboy15221]

Great information. Do you think it would be smart to get a property manager to run your rooms?

[@ThePropertyPastor]

I recommend having a property manager unless you really enjoy that role of dealing with tenants. I use them in my business and they are worth the money

[@prettyboy15221]

@@ThePropertyPastor thank you so much. I hope to find a property manager that’s going to be able to monitor my rooms.

[@paulc1014]

@@ThePropertyPastor and the property manager would live on site? Or how does that work

[@RoseBurrows-q6r]

What is a air b and b

[@Emanuelethio]

do you provide televisons for each room?

[@EdenUnfiltered]

I’m having a hard time finding tenants. What are some free platforms I can use ?

[@tashasharon6709]

Where's your community page?

[@ThePropertyPastor]

You can check out my page at kzbin.info/door/eU7h-ygjHOyXm216m14HVA

[@Niva_Vaifale]

Can I rent just a room without access to common area living room?

[@Hendoggy909]

In California do i need to provide room renter with 60 day notice to vacate or is 30 day ok? Can it be verbal?

[@womensimpowermentnetwork2642]

I am an A & T graduate also.

[@ThePropertyPastor]

Aggie Pride!

[@ginny2071]

Im interested in the veterans program, can you tell me how to find out more about that program?

[@JK-sx1pg]

Hi I likes to watch your videos and I am in a same boat as you are. I have 2 kids and I work 2 jobs and started investing in real estate single family homes. I never understand the concept of renting by room and how they share. I have a house coming soon with 3 BR and 1Bath. I was planning to rent that house by a room and see if I can find someone to rent it. May I know how I should proceed and is it possible to do that in a small town with 40k population? Thanks 🙏🏻

[@ThePropertyPastor]

Sorry for the late response. I'd start out by figuring out if there are any restrictions in your area about renting individual rooms (max number of people - in your case at least 3). I'd also run the numbers and compare to a single family renter. You'll go through higher turn over and at 3 rooms it may not be worth it unless you can get solid rents for each room. In the end, it's really about the numbers. In my market, I usually want to have 4 because that easily covers the utilities and a strong cash flow.

[@OpenMicAwareness]

I’m gonna be house hacking in San Antonio here soon. How do you get a good estimate on the average utility cost when you currently don’t reside there? Any good resources where I can find the answers. Anything would help, thanks!

[@ThePropertyPastor]

If you are buying a house you can ask the owner for copies of the utility bills. If working with a realtor they may be able to give estimates too.

[@wandayoung5904]

Great Video and content, do you have the keypad locks on the front door and bedroom doors?

[@ThePropertyPastor]

We use a common lock on the front door that works for each tenant and then each room has its own keyed entry and deadbolt. We used a company called landlord locks.

[@corneliuspate6810]

Should i let roomers use maill box or go get a PO box?

[@ThePropertyPastor]

I allow renters to use the house mailing address.

[@Jennifr1966]

The programs you were talking about with VA, etc, are you basically talking about these homes where you get your home and yourself certified as a caregiver, you charge them a couple thousand dollars a room, and then you can hire people to come in part time to help out? Where do I get a good sample of house rules? Can i allow a couple to rent a room?

[@ThePropertyPastor]

VA programs usually provide a voucher and the vet uses it to pay their rent. In terms of the caregiver, there are programs that support that and often center around tenants with mental disabilities and the like. They pay a premium and that's a solid niche if you have the patience and skill for it. In terms of house rules, I have a video on my rooming house playlist that talks about leases. My house rules and lease mirror one another. You can download the lease from the rooming house video. Lastly, I stay away from renting to couples in single rooms. I have a video on that topic too!!

[@diamonddejeau4699]

Thank you for your response..So how do you determine how much an application fee should be..

[@ThePropertyPastor]

I usually charge $25 for the application fee. It costs me about $20 to run the background check. Check to make sure your state doesn't have a maximum fee but I've seen them run between $25-$50 depending on what get verified. I used a site called Mrlandlord.com

[@dshaebrown6119]

Hi there, I see that you have an NCA&T degree in your background. I recently purchased my first home here in Charlotte and was looking to rent out my master bedroom as a start of room renting. Curious to know if you are in the NC area? If so, do you have any resource examples such as an application and rental agreement the cover NC laws for tenant and landlords? Thanks!

[@ThePropertyPastor]

Hi D'Shae. I actually live in Hampton, VA so I'm not as familiar with the laws in NC. Most areas have a tenant landlord handbook that can be found on your city's website. I would recommend linking up with your local REIA group and find an investor doing the same thing to get the inside details. The application is general and not really state specific. You'll need to get their basic info to run a background check (always check background) like SSN and DOB. Also you'll want their references, time on the job, income verification, and other info that is important to you such as smoking or pets.

[@pyrochickhop8339]

Pastor, can you please give me feedback on how you rent to get VA stipend or as a group home? How do you market to these groups? blessings

[@ThePropertyPastor]

I have looked into the stipend and in my area you had to have a separate dwelling unit. Rooming houses did not qualify. For the group home, you have to get certified with the state but I've never set one up. There is an approval process for it but it can be a lucrative business.

[@paulc1014]

Would you say it would be better to buy a duplex and rent out the rooms instead of a single family home and having to share space with strangers?

[@ThePropertyPastor]

If you have the choice between the two,I’d go with the duplex. It gives more privacy for you as the owner and the utilities would typically be separate. If there aren’t many duplexes in your area or they are expensive, you can go with single family and rent out rooms

[@jesseb2091]

Do you have locks for each bedroom?

[@ThePropertyPastor]

Yes I install deadbolts on each bedroom for security.

[@jesseb2091]

@@ThePropertyPastor do you think installing locks with codes for them to access is a good option on each room ?

[@tiffanyagee3274]

How do you compute how much to charge for rent?

[@ThePropertyPastor]

The best way to determine market rent is to pull comparables or comps. Check out rooms for rent on facebook marketplace or other advertisements and price in a similar range. Try to match the area and amenities so that you get a close comparison. If you advertise and don't get much attention, begin lowering the amount until you fill the room.

[@Jennifr1966]

I don't know if this is different, but being my husband and I are living off social security only, and he isn't doing well (hospice), so my thought was to buy a 3 bedroom house and rent out the second and 3rd bedroom. I do have questions, though, like how difficult it is to get a tenant out if there is a problem?

[@ThePropertyPastor]

What you are referring to is a solid way to invest in real estate. It is actually quite popular and can allow you to live for free depending on the circumstances. In terms of getting a tenant out, you can do a formal eviction through your local courts. You can also just talk to them and make an arrangement (for example we won't charge back rent if you're out by _________ date). In real estate investing, it's not a matter of if but when. I've had to go through my share of evictions.

[@shakstarr202]

Do you tend to furnish your units? In particular bedroom furniture.

[@ThePropertyPastor]

I started testing out furnishing last year and prefer it. Had a tenant once who brought in bed bugs so I switched to my own furnishings after that. Also allows you to charge a higher price point.

[@zakialong9916]

Thank you so much for this info. Greatly needed and appreciated!

[@princessprincess2113]

I need agent number in Antalya for house rent.

[@kerrypangan5236]

Dam I really never thought about the Zoning situation. I thought the same thing about buying a 6 bedroom house and sleeping on the couch to maximize profits. Now my question is that, the city I want to be in have a zoning law of 4 people in Grand Rapids Michigan. Will that be profitable with 3 unrelated people paying the mortgage? Or is it 4 people+ the landlord living in the property? Thanks

[@ThePropertyPastor]

It is usually still profitable as long as your rents can support it. I would recommend you run your numbers with the average market rent and then subtract out your utilities and mortgage. Worst case you live very cheaply or maybe even free. After a year or two, you can move out and do it all over again. As far as the number of people, you'd have to check with your local zoning department. In my market it represents the total number of people (4 total people or 3 unrelated people plus a landlord).

[@9etherian666]

What would be the best way to invest 25k in real estate for a passive income?

[@ThePropertyPastor]

It depends on your level of knowledge and place in life honestly. If you are new and just starting out, one way to earn money while you learn would be to do private lending. Most lenders will lend to a flipper or investor at 8-12% interest for 1-2 year terms. I work with PMLs all of the time on deals. You can also look into crowd funding if you want to be more conservative but get a guaranteed return. If you don't own a home yet, I'd buy a property with a 3% first time buyer program and house hack (for example buy a duplex and live in one side and rent the other). If you really want to jump into a deal, you could also partner with someone who has a deal but is limited on cash. You can find folks on bigger pockets or your local real estate investor group. Hope these options help you out!

[@august5films]

When you rent by the room do you pay all of the utilities?

[@ThePropertyPastor]

Typically the owner pays for utilities

[@kar3n35]

I got the idea after talking to friends from church there are some divorce or widows ladies from church that need a affortable safe place. 40,50 year olds. I would not accept men.

[@ThePropertyPastor]

One of the biggest keys in this type of investment is long term tenants who get along. If you have a good flow of tenants you will do very well. Also be careful of the protected classes so that you avoid discrimination risks. For example you wouldn’t screen the gender on your application but could advertise as a house that is currently occupied by all female tenants.

[@stevewalther2293]

High risk of drama.

[@squidtrader7973]

When you buy a house from bank or private owner do you install key code box on each bedroom door so tenants belongs are secure from other tenants? I have seen some homes being rented in my location as hostel or private bedroom. What rules do you set for all the tenants to abide by? Do you charge a security deposit for each tenant?

[@ThePropertyPastor]

Each of my doors has an individual lock and deadbolt. Most of our rules center around common area cleanliness, guests stay length (no overnight guests), and appliance use. Tenants usually police themselves. Our lease spells out threats against others, weapons (non allowed), smoking (none), etc. We also charge security deposits for each guest. Typically 1/2 months rent.

[@squidtrader7973]

@@ThePropertyPastor thanks for answering my questions.

[@milinparekh3435]

What are liabilities for renting a room in rental property single family house?

[@ThePropertyPastor]

Great question! The liabilities are the same in scope but one could say greater in number due to the more people in one space. More people in one space carries the risk of more injuries, more people issues, etc. Most tenants are short term though and not necessarily "professional" renters who try to game the system with evictions. I carry the same type of insurance for these types of properties as I do on my small multifamily and single family. I did have an issue where a tenant got a service animal and they bit someone. Couldn't make the tenant get rid of the dog because they were cleared by a doctor. Ultimately, the liability isn't mine and I would have had the same issue in a single family home but the likelihood of the dog biting someone would be less because there would be fewer tenants in the single family unit

[@milinparekh3435]

@@ThePropertyPastor Didnot know liability about service dog, We normally have NO PET policy whether its single family or multifamily. Can do anything if we inherit tenants with pets when buying it.

[@prettyboy15221]

Could I call you. I have some questions to ask

[@ThePropertyPastor]

Sure, shoot me your number or PM me

[@milinparekh3435]

Can anyone provide agreement for rent by room?

[@milinparekh3435]

Can anyone provide agreement for rent by room?

[@ThePropertyPastor]

My contract is pretty standard and compares to what I use on single family units. If you want me to send you a copy of mine, send me your email.

[@rebeccagaribay8703]

Would this be specific to your state?

[@kingjeremysircornwell7847]

You have to own the home to rent the home.

[@ThePropertyPastor]

Thanks for checking out the video. If you set up a sublease agreement (Master Lease Option), you can actually rent out a home without owning it.

[@kingjeremysircornwell7847]

@@ThePropertyPastor No you can't.

[@marthawoolbright4373]

Yes you can!