1 bedroom units (by judd [MD]) Mar 23, 2017 9:56 PM
1 bedroom units (by Robert J [CA]) Mar 24, 2017 12:06 AM
1 bedroom units (by LisaFL [FL]) Mar 24, 2017 5:35 AM
1 bedroom units (by Still Learning [NH]) Mar 24, 2017 5:36 AM
1 bedroom units (by S i d [MO]) Mar 24, 2017 6:42 AM
1 bedroom units (by Still Learning [NH]) Mar 24, 2017 6:57 AM
1 bedroom units (by TIM [IN]) Mar 24, 2017 7:13 AM
1 bedroom units (by Beth [WI]) Mar 24, 2017 9:13 AM
1 bedroom units (by wmh [NC]) Mar 24, 2017 11:34 AM
1 bedroom units (by Barb [MO]) Mar 24, 2017 5:03 PM
1 bedroom units (by cjl [NY]) Mar 25, 2017 9:34 AM
1 bedroom units (by Wilma [PA]) Mar 25, 2017 11:37 AM
1 bedroom units (by judd [MD]) Posted on: Mar 23, 2017 9:56 PM Message:
is there a higher turnover rates for a 1bedroom unit than a 2 or 3 bedroom unit --96.244.xxx.xxx |
1 bedroom units (by Robert J [CA]) Posted on: Mar 24, 2017 12:06 AM Message:
I have a different take on "One bedroom units". They are my best producers of profit. Why? Very little turn-over. Why? A one bedroom can house a single person, a married couple with no kids, people living together or a family with one or two kids....
But a two bedroom with a roommate -- one can always move away the one left in the unit can't afford the entire unit on their own -- so them move when the lease is up or sooner. Of people don't always get along and break up -- moving everyone out... --47.156.xx.xxx |
1 bedroom units (by LisaFL [FL]) Posted on: Mar 24, 2017 5:35 AM Message:
Great question and one I had last year before buying a duplex with one bedroom units. I did buy it.
I found many qualified applicants out there happy to find a one bedroom.
One of the tenants has been there nine years (he came with the place) and has no intention of ever moving!
I rented the other side to another single man. His lease is almost up. He's asking now if I have any two bedrooms so no telling if he'll stay or go. He wants to move in with a roommate. However I have a two bedroom with a single guy who could use a less expensive unit so they may be swapping houses.
I have another two bedroom rented to a single guy moving in with a girlfriend and her kids so you can never tell who is going to move or when. --173.170.xxx.xxx |
1 bedroom units (by Still Learning [NH]) Posted on: Mar 24, 2017 5:36 AM Message:
I think it depends who you rent to. I have 4 units rented to single guys that seem to stay put (because they haven't moved, their rents are a few hundred below the now market rate). On the other units, I have raised rents to top dollar in a rising rental market so I tend to get young couples just out of college. Some stay for a few years saving for their own home and others move after 1 because the baby is on the way or they want more space. I think there has been a huge difference from my 2 BRs. I wonder if part of the increased turnovers has to do with when you rent at high rate, there is less incentive to stay vs if your rent is more of a "deal" making the decision to move is costly. --24.61.xxx.xx |
1 bedroom units (by S i d [MO]) Posted on: Mar 24, 2017 6:42 AM Message:
Find your local real estate investor association (REIA) and ask seasoned investors (10+ years locally) which units experience the least turn over. A college town will differ from one that is mostly service-job vs. manufacturing vs. IT vs. whatever.
I find the types of jobs/educational opportunists are more often better predictors than the unit sizes. Stable employment = long-term tenants. Boom and bust cycles or low skilled, low paying job = constant turn over.
Throw in a dash of how well the LL responds to maintenance issues. The best, hottest market for a 2 bedroom unit does you no good if tenants feel neglected. --173.19.xx.xxx |
1 bedroom units (by Still Learning [NH]) Posted on: Mar 24, 2017 6:57 AM Message:
That was - not - a huge difference in turnovers between 1 and 2 bedrooms for me. --24.61.xxx.xx |
1 bedroom units (by TIM [IN]) Posted on: Mar 24, 2017 7:13 AM Message:
I bought some 1bd units about 2 yrs ago... that was my fear, lots of turnover. Really, it hasn't been a problem. In fact, I get more request right now for a 1bd than a 2bd unit.
Ultimately, it comes down to location and price you set. --67.236.xxx.xxx |
1 bedroom units (by Beth [WI]) Posted on: Mar 24, 2017 9:13 AM Message:
I wonder if rent amount impacts this. We have landlords that rent a 1 BR for $400!! With rent that inexpensive, many tenants won't need a roommate. But, in an area where 1BR rents for $1500-$2500... I think more tenants would look for a 2 BR with a roommate. --97.88.xx.xxx |
1 bedroom units (by wmh [NC]) Posted on: Mar 24, 2017 11:34 AM Message:
We call almost everything we have a one-bedroom, even when it's clearly two.
The only ones we don't do this with have two VERY large bedrooms, so suitable for roommates, couples with a kid or two, etc.
But everything is called a one-bedroom or a studio.
On thinking about it, our highest turnovers are on the two-bedrooms for sure. --173.22.xx.xx |
1 bedroom units (by Barb [MO]) Posted on: Mar 24, 2017 5:03 PM Message:
I rent to students, so I have a different market.
My one bedrooms are way easier to rent out than anything else. I have about the same turnover as anything else. The most difficult to rent is a 3 bedroom, and everyone I know agrees that 3 bedroom places targeted to stidents have more turnover than 1 or 2.
We plan to build more 1 bedroom units very soon. --64.251.xxx.xxx |
1 bedroom units (by cjl [NY]) Posted on: Mar 25, 2017 9:34 AM Message:
Tough question honestly. I have four 1 bed units, 4 bed houses, 3 bed houses and 2-3 bed apartments as well.
They tend to fluctuate. I've had single people (mostly) in the 1 beds and then when they either move their "significant other" in they end up purchasing a home soon after or they may be too small for 2 people so they don't move in they move out.
I had a couple recently in another 1 bed but then when she became pregnant - they moved out since once they started getting the baby furniture in they realized that they were going to be quite cramped.
I've had a young teacher in a one bedroom for a few years and the one before her (also a teacher) only stayed for one year then moved out of the area. The tenant before her was there for a few years but then WE ended the tenancy with him.
Another person was in a 1 bed for 5 years and then we determined to not put up with his "slow paying" and moved him on.
I've also got a family in the 4 bed house going on 5 or 6 years now and I hope they stay longer - but it always depends on what their job is doing from year to year.
Some other people in 3 bedroom apartments stay for the space and have 2+ years in and others stay the one year and move on.
Personally, I "like" the one bed apartments because it's usually less drama since you don't have many people to deal with. --69.201.xx.xxx |
1 bedroom units (by Wilma [PA]) Posted on: Mar 25, 2017 11:37 AM Message:
Great discussion - there aren't too many of that kind of unit around here, but I see a need for it. Both of my adult kids prefer to live alone so that they don't need to interact with anyone during their hours of rest. It took the one about 6 months to find something in the right area and price range.
--71.175.xxx.xxx |
Reply:
|
|