Hi All,
I have heard this come up a lot of times recently from conversations.
But from a rental perspective, does this 'rent by room strategy work effectively? Does this cost more to manage from a Property Management perspective?
Suppose you buy a new build which has 5 bedrooms, and couple the room are en-suites, so they can get more rent value in contrast to the rooms without an en-suite. So you are probably looking at 1000 p/w in rent. Whereas if you just rent the house to a family, then you could probably get between 750-800 p/w.
Technically - rent by the room would more or less cover the repayments, with the current low interest rates, etc.. But how much would someone factor in for PM costs?
Does anyone have experience of this personally? What are the 'uknowns' to consider this?
Personally, I am looking to buy a new one myself, and rent 2-3 rooms, which would cover a good part of the interest portion of the mortgage repayments. The long-term view would be to rent out the entire property 5 years later.
I have heard this come up a lot of times recently from conversations.
But from a rental perspective, does this 'rent by room strategy work effectively? Does this cost more to manage from a Property Management perspective?
Suppose you buy a new build which has 5 bedrooms, and couple the room are en-suites, so they can get more rent value in contrast to the rooms without an en-suite. So you are probably looking at 1000 p/w in rent. Whereas if you just rent the house to a family, then you could probably get between 750-800 p/w.
Technically - rent by the room would more or less cover the repayments, with the current low interest rates, etc.. But how much would someone factor in for PM costs?
Does anyone have experience of this personally? What are the 'uknowns' to consider this?
Personally, I am looking to buy a new one myself, and rent 2-3 rooms, which would cover a good part of the interest portion of the mortgage repayments. The long-term view would be to rent out the entire property 5 years later.
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