Are you thinking about house hacking your Portland Oregon home but you’re not sure if it’s the right option for you?
This is an understandable question to ask because many people are considering house hacking these days as a way to bring in extra income, but they aren’t prepared for the responsibilities that come with being a landlord.
In this article, we will provide you with insight into house-hacking, and offering you tips on if you should try house hacking or rent your property out.
What Is House Hacking?
House hacking is the process of renting out one of the bedrooms in your home to a tenant.
Many people are getting started with this method in this day and age because it can bring in an extra $700-$1,200 per month depending on what their home offers a tenant.
To get started with this, a property owner must first ask themselves if they are ready to be a landlord because, this means all of the responsibilities that come with being a landlord like rent collection, maintenance, customer service, etc.
Is Owning A Rental Property The Better Option For You?
The big difference between hacking and owning a rental property is that owning a Portland rental property earns a landlord passive income while with house hacking, a landlord has to live with their tenant 24-7.
Even though you may think it’s a good option to live in the same property with your tenant, if you value your privacy and want to earn passive income then turning your home into a rental property may be the best option for you.
Contact Rent Portland Homes
At Rent Portland Homes, we specialize in local property management and our team will provide you with the excellent service/support that you need to get the most ROI from your property.
To learn more about the property management services that we can offer you, contact us today by clicking here.