Rental profits quadrupled with great tenants. Seattle, WAWhen I blog about renting out individual rooms the conventional thinking on the topic goes to a rental population of students, seniors and the mentally and physically challenged. I say think outside the box – it’s a great time to be unconventional and watch your rental units cash flow like never before. As written in yesterday’s post, on average a $1,000 a month in net cash flow per dwelling unit.
Our preferred tenant will not fit into any of the above-mentioned categories. We have found that the renters we work with – ex-offenders of soft crime - can be less of a hassle and less expensive than those most people think of when renting out individual rooms. With anyone on parole or probation, finding a place to live is often challenging at best and forces men and women into shelters where they are likely to experience the same problems that got them into trouble in the first place. Those who desire to make a change and make their lives work are in need of clean affordable lodging that supports their goals.
Every tenant comes in knowing that in order to take advantage of this opportunity a set of “House Rules” must be agreed to. They are a set of living requirements handed down by most States Department of Corrections, as part of the individual’s parole or probation agreement. They are not impossible to follow and they keep your house safe and healthy. Who enforces them? The individuals themselves and their parole or probation officers. Ex-offenders don’t want to violate the conditions of their parole/probation requirements and if the House Rules are not being maintained there is always someone waiting to take the room. This is just one of the reasons why this tenant population is so great to have as renters.
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Don't hesitate to contact us with questions.