December 10, 2024

How to Find Great Roommates or Tenants & Manage Your Property Remotely

How to Find Great Roommates or Tenants & Manage Your Property Remotely

Hey there, Kristina here! At Open House Education, we’re passionate about helping women reimagine what homeownership can look like. One of my favorite strategies is house hacking, where you rent out part of your home to offset—or even completely cover—your mortgage.

This blog is for women who:

  • Are curious about house hacking but don’t know where to start
  • Want to explore ways to live more affordably while building wealth
  • Are looking for smart, creative ways to manage their property, whether they live on-site or remotely

And here’s the good news: you don’t have to live with strangers to house hack. While this blog focuses on finding and managing roommates or tenants, there are so many other ways to house hack! Check out our other blog for a full list of house hacking strategies, including options like adding an ADU or using short-term rentals.

Why Short-Term Roommates Might Be a Great Option

If you’re open to having roommates but don’t love the idea of a long-term lease, consider renting rooms short-term (1–3 months). Personally, I’ve found that most “roommate issues” pop up after people get too comfortable—usually a few months in.

By renting short-term, you keep the flexibility to move on if the arrangement isn’t working, while still earning enough to offset your mortgage. Plus, if someone doesn’t turn out to be a great fit, you’re not stuck with them for long!

Creating a Killer Ad

Your ad is the first impression potential tenants will have of you and your home, so make it count!

  • Be detailed: Include information like rent, lease terms, and amenities, as well as what you’re looking for in a tenant.
  • Show personality: A little humor or character goes a long way in attracting the right person.
  • Ask specific questions: For example, “What’s your work schedule like?” or “What’s your ideal living situation?” This helps weed out people who aren’t a good fit.

Here’s where to post your ad:

  1. Facebook Marketplace: A tried-and-true option for finding local renters.
  2. NextDoor: Connect with your neighbors, who may know someone looking for a place.
  3. Instagram and Facebook: Share your ad on your feed and stories to reach friends and friends-of-friends.
  4. LinkedIn: Yes, people still use it! It’s a great way to connect with professionals who might be looking for a rental.

Pro Tip: Always look up potential tenants on social media to get a better sense of who they are.

Managing Your Property Remotely

If you don’t plan to live on-site, managing your property remotely is totally doable with the right tools:

  1. Hire a Property Manager: This is something you will definitely need recommendations for before hiring! This is a tough business and many property management companies won't be a good fit for you. Recently, community member Kara Pendl taught a lunch and learn addressing this. She recently sold her property management company and gave us a lot of tips & tricks on hiring the right company. I plan to share a short blog on some of what she discussed in the new year. Otherwise, if you are already in our community, you can assess her video recording here.
  2. Use Landlord Software: Tools like Avail let you list your property, screen tenants, sign leases, and collect rent—all in one platform.

Before renting, make sure you’re familiar with landlord-tenant laws in your area. This step is crucial for staying compliant and protecting yourself legally. You can also ask your realtor about this! Looking to buy or sell soon and need an awesome likeminded (woman) realtor to be connected with? I'll connect you!

Join Our Community of Women Across the Country

At Open House Education, we’ve built an incredible online community of women supporting each other in real estate. Whether you’re just starting to explore house hacking or you’re managing multiple properties, our community is here to share ideas, offer accountability, and celebrate wins together.

If you’re ready to take the next step, join us here. You’ll find resources, live events, and a network of women who understand the challenges and rewards of house hacking.

Looking for More Tips?

Want even more ideas on house hacking? Check out our podcast for real stories and strategies. One episode I love dives into my sneaky duplex and how it covers nearly half my mortgage.

House hacking isn’t one-size-fits-all. Whether you’re renting to short-term roommates, adding an ADU, or exploring another strategy from our blog, there’s a way to make it work for you.

Let’s turn your home into a tool for growth and possibility—together. 💫