At one time, rooming and boarding houses were a common, and often desirable, form of housing that catered to members of a wide range of social classes and professional occupations, but this sector of the lodging industry has generally been in decline. This, however, doesn’t mean that there are not generous profits to be made!
Most people only think of Rooming Houses as places that offer single rooms to people. But there are other ways you may consider structuring your house, some of which may allow you to increase your profits. Rooming houses can offer single rooms, shared double rooms, efficiencies, or suites; private, shared, or communal living and eating areas; and private, shared, or communal bathrooms. So depending on the size, condition, and locale of your house, you can determine what sort of Rooming House you will create.
One of the great things about being a landlord is that you have other people paying off your mortgage. Rooming houses not only reduce your risk of paying your mortgage on your single family home because of vacancies, it also gives you greater cash flow than if you had one tenant (family) in your single family home. This eBook will show you the steps to creating a successful rooming house.