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Rent By Room
40 members • Free
5 contributions to Rent By Room
8d •
Member Agreement vs Tenant Lease
Omid asked a question I think may be good to post up separately. Padsplit and other co-living companies leverage a "Member Agreement" rather than a tenant lease. I quick example of what the agreement holds is; This Agreement is not a lease. Instead, it is an agreement whereby Member obtains ownership of a single Company Membership Unit for a continuing payment obligation, which entitles Member to certain benefits, including access to designated areas within the Property and the Room, as long as Member fulfills the continuing obligations outlined within this Agreement. If Member fails to fulfill the continuing obligations outlined within this Agreement, Member’s Company Membership Unit may be redeemed by Company and Member shall have no further rights to the Company Membership Unit, nor rights to access the Property or the Room. Member understands and agrees that this Agreement does not create a tenancy interest, a leasehold interest, or any other interest in the Property or the Room.
1 like • 4d
@Delonta McClain I only invest in Arizona, a landlord friendly state.
0 likes • 21h
@Delonta McClain Good Times
1d •
Trend improving
I needed some good news and got a little bit. :) With the rain in AZ and the water issues I am glad to see it is all worth it! I had been trending down, which seasonally is the same as last year, but more of hit this year with the Padsplit fee change. What isn't in this graph is the new property in Gilbert that I am running myself. I have one member so far and 2 more potentials. Income from it is only $1150 so far, but once full should be $7300 a month.
0 likes • 21h
@David Brown No license and you do need sprinklers if you do 10 rooms +. I do 8, so I don't need them.
11d •
Rent by room in Worcester Ma
Hi everyone, I am new to real estate investing. My buy box is within Worcester Ma. Has anyone here heard about lodging permit which is required in MA for housing 4 or more non relatives in a house? If yes, have you obtained one? Any hints would be highly appreciated!
1 like • 8d
I haven't heard of a permit, but have heard of the non relative limit in many municipalities across the country. Padsplit and others leverage a "Member Agreement" instead of a tenant lease. Essentially the same as a gym membership. - Example: "This Agreement is not a lease. Instead, it is an agreement whereby Member obtains ownership of a single Company Membership Unit for a continuing payment obligation, which entitles Member to certain benefits, including access to designated areas within the Property and the Room, as long as Member fulfills the continuing obligations outlined within this Agreement. If Member fails to fulfill the continuing obligations outlined within this Agreement, Member’s Company Membership Unit may be redeemed by Company and Member shall have no further rights to the Company Membership Unit, nor rights to access the Property or the Room. Member understands and agrees that this Agreement does not create a tenancy interest, a leasehold interest, or any other interest in the Property or the Room."
24d •
Hello all!
I just heard from Jarrod about this community on a call this morning and it's such a good idea to have a space dedicated for co-living. I have one rent-by-room property now and have another one under contract. Looking forward to sharing and learning from everyone!
0 likes • 23d
Awesome Herman! Way to go on the propeties!
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@jarrod-ochsenbein-6591
Rent by Room investor in the Arizona market. 32 units as of Sept '25.
Active 21h ago
Joined May 13, 2025