2018-04-09 at 7:06 PM UTC
Here's a semi legit money making tactic - you get a house in a sought after area, and basically divide it up into small units - that might mean even going bunk bed youth-hostel style with the accomodation. Kitchens, bathrooms, etc are all shared. You can earn far more from many tenants paying lower rent than by having fewer tenants paying higher rent.
This can be pretty much illegal due to zoning laws and the like, which is why you only rent the house. You target migrant workers who don't know their rights, don't have family nearby, and don't care to fight with you, and keep being ready to move on.
I have seen this done so many times, and the landlords who do it always seem to make great money.
2018-04-09 at 7:32 PM UTC
Also interested in this. I think it's typically not a problem if you also live in the house and are just renting out extra bedrooms ( maybe not in a HOA / deed restricted property but personally I have little interest in buying such a place )
Of course it would vary by area but from what I understand if it's your house that you live in, you tend to get a bit more leeway in how you can treat and discriminate against your 'tenants' than your typical landlord. For ordinance/legal compliance the big deal seems to be the distinction between renting out bedrooms vs turning a single-family home into a multi-family: which will vary by municipality but think of separate entrances, each renter having their own kitchen, etc.
Personally I envision something where each renter gets their own bedroom/bathroom with a studio apartment style kitchenette and having their own window air-conditioner and heating, with utilities sub-metered. I wouldn't say I want to be a slumlord though, more like I want to get a nice expensive house with a bunch of other hard working people paying for it.
