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Listings for landlords renting single rooms

Idea threads

sev969

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The idea is basically to help landlords who have multiple rooms they rent out, to help them advertise their room better so they can get tenants faster and making it hassle free for them and the tenant.

In order to do this
1. I will be advertising their rooms better than the competing listings
2. Providing prospecting tenants with an incentive to commit sooner.

USP = "I will get you a tenant within a week for the first weeks rent"
Essentially what I'm solving would be, for the landlords who are not advertising their rooms the best way and wondering why they can't get a tenant for weeks, I get them tenants much quicker.

I've messaged landlords with my pitch and have gotten a couple of responses. I would say over 30 messages sent and I got 3 who were interested. They all agreed that they will pay once the bond has been paid.

Over the long term, I will be building a data base of prospecting tenants and rooms to funnel rooms with tenants so this process becomes way more lucrative and efficient. Also, if one landlord has one room they're renting, they would have more rooms in the house. So, slowly look into advertising other rooms and eventually renting out the house for a small percentage of the rent. Basically like a real estate agent would I guess.

I know I can make this work somehow but I wanted to be part of a community during this process and get feedback and assistance so I can avoid most beginner mistakes and get there faster.

Happy to join INSIDERS as well if that would help!
 
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TheJon

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The idea is basically to help landlords who have multiple rooms they rent out, to help them advertise their room better so they can get tenants faster and making it hassle free for them and the tenant.

In order to do this
1. I will be advertising their rooms better than the competing listings
2. Providing prospecting tenants with an incentive to commit sooner.

USP = "I will get you a tenant within a week for the first weeks rent"
Essentially what I'm solving would be, for the landlords who are not advertising their rooms the best way and wondering why they can't get a tenant for weeks, I get them tenants much quicker.

I've messaged landlords with my pitch and have gotten a couple of responses. I would say over 30 messages sent and I got 3 who were interested. They all agreed that they will pay once the bond has been paid.

Over the long term, I will be building a data base of prospecting tenants and rooms to funnel rooms with tenants so this process becomes way more lucrative and efficient. Also, if one landlord has one room they're renting, they would have more rooms in the house. So, slowly look into advertising other rooms and eventually renting out the house for a small percentage of the rent. Basically like a real estate agent would I guess.

I know I can make this work somehow but I wanted to be part of a community during this process and get feedback and assistance so I can avoid most beginner mistakes and get there faster
Hey!

I'm a small time investor and currently rent by the unit. I have considered renting by the room. Here is my issue with room renting - I'm worried about the quality of room renters, I think I could get people to apply, but I'm not sure how to screen for "get along with unit mates".

Wonder if you could solve for that in your plan? Speedy placement is a great plus too

I currently, as most landlords do, pay an upfront cost upon the tenant commitment (they pay whatever, security deposit, first month) I don't think you'd have trouble getting placement fees.
 

sev969

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Hey!

I'm a small time investor and currently rent by the unit. I have considered renting by the room. Here is my issue with room renting - I'm worried about the quality of room renters, I think I could get people to apply, but I'm not sure how to screen for "get along with unit mates".

Wonder if you could solve for that in your plan? Speedy placement is a great plus too

I currently, as most landlords do, pay an upfront cost upon the tenant commitment (they pay whatever, security deposit, first month) I don't think you'd have trouble getting placement fees.
There's an Australian website called flatmates and previously when I've moved or tried to look for a place, I've used that website. And, they mostly have single rooms which are advertised landlords. My answer to this after experiencing with using this platform and moving into houses sometimes blindly without knowing my housemates is a good vetting process. A referral to the previous landlord, how they talk and substance of conversation, what they want to do, what their current life entails provides a lot about a person. From here on, it would be trusting your intuition and making a call. Also, getting the tenant to meet atleast one of the housemates.

In regards to your last sentence, I don't completely understand. Are you saying that you pay an upfront cost in order for the tenant to move in? If so, why?
 

TheJon

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Aug 7, 2022
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Philadelphia PA - USA
There's an Australian website called flatmates and previously when I've moved or tried to look for a place, I've used that website. And, they mostly have single rooms which are advertised landlords. My answer to this after experiencing with using this platform and moving into houses sometimes blindly without knowing my housemates is a good vetting process. A referral to the previous landlord, how they talk and substance of conversation, what they want to do, what their current life entails provides a lot about a person. From here on, it would be trusting your intuition and making a call. Also, getting the tenant to meet atleast one of the housemates.

In regards to your last sentence, I don't completely understand. Are you saying that you pay an upfront cost in order for the tenant to move in? If so, why?
That makes sense. I definitely don't want to do that screening work :) so might be an opportunity there, maybe in the form of a personality assessment type quiz match.com for flat mates

yes in the US we usually pay a fee upon placement of a tenant, so it sort of works like this, the agency advertises the place, someone applies, they are screened, if they pass, they pay the security deposit and at least a month rent, from that month rent, the agency usually takes a big chunk as a placement fee for doing all that work
 
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sev969

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Putting this idea to rest for now. Reasons being, I'm working fulltime and I need to have way more time to put in the leg work for this idea to come to life(going to prospect's house and taking photos).

The positive is I'm working from home. I've already started Amazon FBA and ordered my first shipment). First step is to get 1k a week consistently. That will give me the time and to work on this idea
 

TheJon

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Read Rat-Race Escape!
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Aug 7, 2022
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Philadelphia PA - USA
Putting this idea to rest for now. Reasons being, I'm working fulltime and I need to have way more time to put in the leg work for this idea to come to life(going to prospect's house and taking photos).

The positive is I'm working from home. I've already started Amazon FBA and ordered my first shipment). First step is to get 1k a week consistently. That will give me the time and to work on this idea
Very cool on the FBA, good luck there, that's a tight market. Side thought: I imagine the owners of the property would take the photos for you when your ready
 

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