What I Shared About Growing Rental Income Through Shared Housing

I recently joined Dave for an interview on the Property Profits Real Estate Podcast, where we talked about my journey into shared housing, how I changed the economics of one of my rental properties, and what I've learned about building systems around the business.

One of the biggest lessons I've learned is that increasing rental income isn't always about buying more properties.

Sometimes, it's about looking at the property you already have differently.

A Different Way to Use a Single-Family Rental

When I first started with traditional single-family rentals, one of my properties was producing only about $200 per month in profit after expenses.

I started asking myself whether there was another way to use the property.

Instead of renting the entire home to one person or family, I began exploring a shared housing model where I could rent individual rooms and beds.

That decision changed the numbers significantly.

One of my first shared housing properties had five bedrooms, five bathrooms, and 15 beds. At $560 per bed, the property generated about $8,400 in gross monthly income.

During the interview, I shared how that experience changed the way I think about rental properties.

But the financial numbers are only part of the story.

Because once you increase the income potential of a property, you also have to be prepared to manage the additional responsibilities that come with it.

Higher Rental Income Requires Stronger Systems

Shared housing isn't the same as renting an entire home to one tenant.

Many of my residents have caseworkers or social workers, and some live on guaranteed income such as SSI or SSDI. That means there are more moving parts to manage, including rent collection, maintenance, communication, resident relationships, conflicts, and marketing.

Over time, I've built systems around these areas so that the business doesn't depend on me personally handling every issue.

I also work with a local operations manager in San Antonio.

I live in California while my properties are in San Antonio, so having someone on the ground is important. My operations manager checks the homes, helps make sure chores are being completed, and helps address problems that come up on-site.

One of the biggest lessons I've learned from growing this business is that higher revenue requires better systems.

The goal isn't simply to make more money from a property.

It's to build an operation that can consistently support the income you're generating.

Vacancies Can Add Up Quickly

Another lesson I shared during the interview was the impact that vacancies can have on a shared housing business.

At one point, I had six vacant beds across my portfolio.

At approximately $650 per bed, that represented roughly $4,000 in potential monthly revenue that I wasn't collecting.

That experience made me much more intentional about monitoring vacancies.

Today, I have what I call my CEO Hour every Monday.

I use that time to review the numbers, look at vacancies, and understand what's happening across my properties. It's an opportunity to step away from the day-to-day operations and look at the business from a higher level.

For me, that's an important part of being an owner.

You can't manage what you aren't paying attention to.

Why Shared Housing Is About More Than the Numbers

While the financial side of shared housing is important, it's not the only reason I believe in this model.

One of the things I value most is being able to provide people with access to a safe and clean place to live in a neighborhood they may not otherwise be able to afford.

That purpose is a big part of why I believe shared housing isn't for everyone.

There are real people behind every bed.

You have to be willing to communicate with residents, work through challenges, maintain the property, and create systems that support both the business and the people who live in your homes.

For me, that's what makes the model meaningful.

The goal isn't just to generate higher rental income.

It's to build a business that is profitable, organized, and provides real value to the people it serves.

Watch or Listen to the Full Conversation

I enjoyed getting to share more of my experience with Dave, including the transition from traditional rentals to shared housing, the numbers behind the model, the importance of systems, and some of the lessons I've learned along the way.

If you're interested in hearing the full conversation, you can watch or listen here:

Apple Podcasts: Property Profits Real Estate Podcast

YouTube: Full Interview

And if you'd like to learn more about my approach to shared housing, visit Co-Living Business.