Raise in Minimum Wage Doesn’t Eliminate Short-Term Rents

The Los Angeles City Council might have been influenced by the dismal rental market for low-wage earners when it voted to mandate an increased minimum wage in the city.  Could they have read the memo that LA is THE worst place in the country in which to rent? For better or worse, LA is the largest city yet to embrace a 15 dollar minimum wage. But it won’t go into effect till 2020. Curbed LA points out  that even on a full-time income, $15 an hour won’t rent you anything for an independent lifestyle pretty much anywhere in LA. So, in other words, more of the same: room sharing, subletting, and roommates. Those renters with children who are supposed to be beneficiaries of the new law are sure to be disappointed.

What does that mean for run-of-the-mill short-term renters? Many of us cannot afford to pay rent on just one job, and even with the wage increase, you would still be hard pressed to let go of that second job. That’s because employers will probably cut back on employee hours to compensate for their bottom-line losses. The new law is supposed to be about living wages, but the living is increasingly in the form of poorer conditions and job security.

The technicians, tradesmen, and artisans that make up much of the entertainment industry, as well as waiters and service industry pros, might see this as a green light to negotiate higher wages for themselves. After all, how can employers justify paying a non-English-speaking bus boy $15/hour if he is now getting closer to the bartender in income?

Many restaurant owners are crying bloody murder, and are threatening to close up shop if they are forced to comply. Your favorite deli—now closed. Seems like a short-term retail lease would be in order.

Less Still Feels like Less in NYC

They say New Yorkers go out more often than their West Coast counterparts. Now they’ve got more reasons to go out, or risk claustrophobia.

Even in the bitter winter cold, or the maddening summer humidity, they can trudge out of their cramped studio apartments in Manhattan and Brooklyn and find something to occupy their time for the next couple of hours. Anything to get their minds off the fact that they are getting increasingly shafted by the rising rents on smaller apartments.

If the same thing were happening in southern California, I wonder if residents would be equally motivated to get out and do things. Perhaps. Or, they might choose to be proactive about the situation: divvying up your 1 BR apartment is one thing, but how about a studio?

The real issue is not getting out, but rather getting over.

It’s the hard-working, often-single people who are, as usual, bearing the brunt of an “improving job market.”  As working professionals have had to sublease housing in order to cut back on unnecessary housing expenses here in SoCal, New Yorkers have always been able to say that their wages kept pace with a rental market shooting skyward faster than an opened fire hydrant on a muggy NYC summer day. Now, the larger apartments are the ones that save renters on rent, though just by tiny fraction. It kind of makes you wonder what ingenuity the micro apartment industry will spawn next–laying your bed against a wall and sleeping while standing?

Subleasing your unused studio space on an hourly basis could be an option for some of these renters if the trend continues toward rising rents on these small apartments. Go out for a few hours and have some drinks, while you rent your furnished pad to traveler on a one-night expedition in the big city. Sound crazy? Anything could happen in New York. As the trusted gurus of yesteryear might have opined: if you can sublease it in New York, you can sublease it anywhere.

Ownership Society Lost

People are wired to be innovative when the situation turns dire.  In any era, human creativity never ceases to amaze. But human greed is on the other end of the spectrum. It is also a constant.

San Diego is starting to confront the very same problems Angelenos have been grappling with when the house next door turns into a hotel and the revolving door of guests never seems to stop turning. The NIMBY people are up in arms. City regulators are employing hasty measures. The subleasing residents are crying foul: “I’m not a hotel, I just have an extra room I’m renting out to make some extra cash! What’s the harm in that?”

The average renter knows a dire situation these days. She shares her home with others now. It’s the sharing economy, remember? April Rinne remembers. She is an adviser to the World Economic Forum on sustainable cities:

“The rules and regulations we have today are designed for an ownership society in a different era, but when you apply a lot of these rules to a sharing exchange, they break,” she says. I guess that is the “natural” outcome of excessive human interaction? She goes on:

“…home sharing platforms, weren’t designed to skirt the law but solve a problem, but oops, in the course of solving one problem they encountered other — and often unexpected — side problems along the way.”

Side problems encountered for trying to make some side cash. The brunt of the problem is borne by the intermittent subletter. The guy who didn’t even know he was in violation of transient occupancy tax. And swiftly comes the sledge hammer to quash the ant’s rebellion. The municipalities are again quick to respond, but slow to implement effective and logical laws. They set rules for civic codes that are rooted in notions of ownership of property, or at the very least, temporary rental with the aspiration to own “some day.”

On the “side,” people become a teensie bit greedy.  They become business people with a revealed talent as a host they could have never been before say, when they wanted to host a colleague and her significant other at a single family home owned (almost) free and clear.  Problem is, they never pretended to own the house in the first place because they never went through the channels of ownership in this society.

And they are increasingly not alone.

The Orange County Dilemma: Double Up or Move Away

The demand for apartment rentals in Orange County is on par with that of its neighbor to the north and with that of the rest of the nation.

In fact it might even be higher according to a recent USC study. The combined effects of rampant urbanization of the South Coast Metro and the dwindling availability of new construction are squeezing OC’ers into making a decision between staying or fleeing.

There are some external factors at play.

For example, many Irvine houses have been bought in the the last decade by international buyers who leave the homes vacant. Many nearby renters end up renting in nearby West Santa Ana and Costa Mesa, leading to the urbanization of the area, dubbed South Coast Metro.

The South Coast Metro area is taking a page out of Downtown LA’s urban renewal path with amenities like exercise rooms, spas and clubhouses helping to bring more migration to the area and pushing up rents. Renting a room in Costa Mesa or a garage converted into a guesthouse in Santa Ana is as common now as it is in Los Angeles. So, what many developers have accomplished, in effect, is to totally prevent average renters, short-term or otherwise, from getting anywhere near their “urban” paradise.

The biggest risk Orange County faces with higher rents is migration of its renters to less expensive housing options such as in Los Angeles and Riverside Counties. However, a lack of jobs in the area have prevented the out flow, and for the most part, renters are now seeking cheaper rental options within Orange County by either doubling up or subleasing space to avoid the higher expense.

Couples Ok…But a Family?

For most people who envision a struggling renter in Los Angeles, it is fair to say their idea is of a single, young, Westside-bound, college-educated industry grunt  (let’s not exhaust the oft-abused adjective “hip” and paint all LA people with the same linguistic brush—-after all, words, do matter, don’t they?)

I was thinking of what short-term renters and subletters are typically not in this city, and the answer is fairly obvious if we get past our own prejudices: families. Subletting space short-term is difficult enough when it’s just you, but for a family, it must be damn-near impossible, right? Los Angeles “boasts” the highest share of renters to owners in the U.S., according to an L.A. Times article from a few months back. This, we already know, what with federal restrictions on loans that don’t seem to to be loosening anytime soon.  If you believe that owning is better than renting, the word “boast” will no doubt catch your eye. And if you’re a family it will sound downright shameful.

But such is the reality of renting here when you can’t afford to live in increasingly priced-out neighborhoods (now, a transformation of Historic Filipinotown from grit-and-grime to posh-and-stroller-friendly is already in the works.) At least, that is what David Nagel is counting on.

The question becomes, from a subletting perspective, is having a family conducive to moving out every few months and searching for new housing? And, would you rent a room in your home to someone with a wife and child(ren)?

Since the answer on both counts is usually no, developers are cashing in on the idea that more and more renters who are unable to buy a home or rent anywhere near central LA are family units, not single people. But it’s not really the demands of poor families that the development is redressing. The proposition that “white-collar” families are doomed to remain in the ranks of lifelong renters is what really animates investors here, especially since they won’t enjoy the same renting perks as their NewYork and San Francisco counterparts.

Funny how an entire demographic gets overlooked. The truth is that renting in this city, particularly for shorter-term durations than one year is probably never going to appeal to families. There are the usual families that need to rent single family homes for secondments and other work-related living arrangements. But these are relocated people, usually from abroad. There is increasing frustration on the part of some American mothers and fathers for whom having children is a deal breaker with landlords. So, if you’re starting a family and living on a tight budget, Mr. Nagel’s plan is a useful one.

Landlords and residents who wish to sublet or rent out rooms in homes in L.A. for the quick buck with little investment will have to keep their sights on the single, 20-35ish and fully employed transplant. After all, they’re thinking, “Who needs more dependants when I’ve already got renters?”

Top Ten Things Short-Term Renters in Los Angeles Must Do

Have you recently moved to Los Angeles or are planning to move here soon? Are you going to stay at an extended vacation rental, corporate housing, or just sublet a room in an apartment before getting yourself going? Before you do, read these top ten tips to avoid the mistakes most renters make when renting a short term rental in L.A.

10. Check Parking Availability

So what were you thinking when you rented that place in West Hollywood within a mile of two major shopping malls and trendy nighttime cafes?

The parking fines in Los Angeles County have risen so sharply people have had to report to court to plead in front of judges to waive them due to economic hardship. It’s also hard to know who’s giving you a ticket, the city of LA, or West Hollywood, or Beverly Hills, or Culver City, or Santa Monica? Yes, this metropolis is a collection of so many jurisdictions and municipalities that fines vary from one city to the other. But one thing is for sure, you could afford to see five movies with the sum you’ll pay for a mere street cleaning violation. If you like to have friends over from time to time, not knowing parking laws can end up costing them (and you) a minor hardship.

9. Know Pet Policies

If you live in a place like LA, your pet is an extension of you. In addition, most landlords are open to having a pet as long as a deposit is paid up front. But what about the your roommates? Have you checked the policy regarding pets at your potential rental? The good thing is that this policy is almost always made explicitly clear in the ad you read, so beware of restrictions on any pets.

Now, let’s say you’re part of the rest of the renting population that doesn’t have a taste for pets. Getting to know your roomies and their habits could tell you what you need to know about their likeliness to have a pet in the future. It doesn’t hurt to ask. If you’re the type who needs to have peace and quiet to work/study, have a look for next-door pets that are unruly. Again, since the length of your stay is undetermined, you probably won’t get to know your neighbors, and keeping a low profile is better than ruffling any feathers by asking them to quiet their barking dogs. It’s better to notice these things beforehand than be stuck with a nuisance later.

8. Make Sure Your Room is Permitted

Imagine coming home one day to find all of your belongings thrown outside, and that your little room is no longer your room.

To avoid this, it can’t hurt you to ask your landlord if the room is up to code. Some people are afraid to ask this simple question, but asking it can tell you right away about what the landlord is offering you. L.A. has many converted guesthouses, room additions and other haphazard constructions that you should be aware of not only for your long-term residence prospects, but also for the quality of amenities and safety.  Knowing when a structure isn’t built by code can give you a pretty good idea about the rent being charged and whether it is appropriate.

7. Check Safety of the Neighborhood

This is one of several questions you should ask yourself about the rental. You must factor in several things: the location of your property –is it highly walkable to groceries, restaurants and nightlife?; is there noise from a freeway or pedestrians?; how are the neighbors and surrounding location in terms of safety, pollution and quality of life?

The LA Times has a city guide broken down into neighborhoods. It provides a nice overall picture of your desired zip code, but it’s always advisable to go to the neighborhood yourself and see what’s what. Going at night is a good way to see what’s open, what’s not, and who’s about.  A good thing to remember about safety is that it’s not just people you should watch out for, but also roads, infrastructure, pollution.  For some renters these concerns could override anything else.

6. Get Renter’s Insurance

Rental insurance has always been something that landlords who rent to lessors casually recommend without much persistence because it does not benefit the landlord. In addition, the tenant’s disregard is an unnecessary cost to the landlord.

However, when it comes to subleasing and short term stays, it is necessary for both the sublessor (person renting out their space) and sublessee (person renting the space) that the property have rental insurance. This is because as many precautions are taken before subleasing space, there are still unknowns that can occur in the future (such as a slip and fall, or damaged items). So, it is better to be protected and assured that with renter’s insurance these types of mishaps will be covered.

It is suggested for everyone involved to discuss this and perhaps share in the expense. Rental insurance is minimal especially when shared between people, but you should carefully  consider which policy is best suited to you and your housemates.

5. Understand Boundaries and Common Areas

Each person is wired differently, and while some may like to keep to themselves and never be seen outside of their rental space, others are more gregarious in nature. We all want to have a cohesive living environment where everyone feels free. If you’re not careful though, you will be in for a surprise if you’re craving for a snack and discover your yogurt isn’t in the fridge. Many times we try not to be such sticklers when we first meet people that it ends up costing us later.

Yes, there are people out there who consider an unclaimed yogurt in the fridge to be public property, so beware. And that’s getting off easy (think of shared furniture). Generally, it’s the quiet ones that get burned here. So, if you prefer to keep to yourself, at least lay down some boundaries for your belongings in common areas like the kitchen, bathroom, and laundry areas.

4. Understand Utility Expenses

When sharing common space with multiple roommates, it can be easy to overlook utility expenses that seem negligible at first, but can end up being costly if you’re not careful. Consider that Los Angeles ranks above the national average in utility usage across the board, according to the Bureau of Labor Statistics. Utilities are best charged as a flat fee and separate from the actual rent amount. Normally 10-15 dollars per utility (gas, electric, water, laundry, internet, etc.) is reasonable.

If you want to just split each monthly bill as it comes, consider the fair use amount between each housemate. For example, a roommate with a separate air conditioning unit connected in the summer should pay more for electricity. Again, this is something that needs to be decided amicably beforehand.

3.  Meet ALL Potential Roommates Before Deciding

It used to be that when renting, you’d have one, maybe two, roommates to live with.

However, a stagnant economy, rampant underemployment and flat wages have conspired to transform us all into thrifty consumers of even bare necessities. For a renter, it should be no different.

Remember single family homes? The used to be the iconic symbol of the American dream. Well, in Los Angeles, many have been converted into multiple dwelling units featuring various tenants from disparate backgrounds, and each one with a different life story. It’s better to err on the side of full disclosure here and see exactly what each roommate has to offer. You don’t want to regret moving in with someone too young and wild for you on weeknights, or someone who never cleans up the common areas. It may seem unnecessary at first, but the more people you meet, the less you’ll be surprised about later.

2. Sign a Sublease Agreement 

The sublease agreement is the basis for the terms of your stay. Similar to a traditional lease agreement, its terms and restrictions are applied to a shorter-term stay than one year, and in many cases, less than six months. Generally, fewer problems arise when there is a valid sublease agreement between the parties.  These agreements can vary, from the very detailed to the more concise, but they are usually a good way to keep both sides honest. Please check the laws, restrictions and regulations of your locality or state regarding subleases before proceeding so that you may be aware of how they govern this agreement. Check this page for examples of sublease agreements and other useful forms.

If your landlord does not have such an agreement, then suggest it. With persistence, your landlord will most likely agree and sign it; he/she will also appreciate your professionalism.

1. Do a Month-to-Month Lease

You’ve just moved to L.A., you’re still discovering its hidden gems cool spots, and already you want to commit to one tiny corner of this massive metropolis?

Most people who move to big cities are so concerned about finding a place to stay that they overlook more convenient short-term options right under their noses. That’s because cities with a large percentage of renters often have loads of apartment buildings and other multi-unit structures as the dominant form of housing; almost all of these require one-year leases, which benefit the owner more than the tenant.

Month-to-month, or in some cases, three-month leases, are more common as rental options, as people form house-sharing communities. Often times, landlords simply want to fill an empty space in their homes for a temporary period. Transplants often make the mistake of locking themselves into a commitment they end up regretting in a few months. But they need not fret, because there are lots of short-term options available in Los Angeles, which are now beneficial to both the renter and the landlord.

A New Word for ‘Roommate?’

Are you a double-upper?  In your current residence, do you share a kitchen or a living room? Or possibly a bathroom, but not a bed? If you do, then according to a new Zillow research article, you are part of the growing trend of people who have living arrangements with other adults that are not their spouse.

According to the study, “32 percent of working-age adults – aged 23 to 65 – live in doubled-up households, up from 25 percent in 2000 and 26 percent in 1990.” It also says that those that live with roommates make a quarter percent less than those that have their own private apartment.

It lists by location the highest and lowest percentages of renters who double up, and not surprisingly, the biggest metros (LA, San Francisco, Miami) have the highest share.

Zillow also says that when the incomes of all the doubled up renters increase, and they soon start looking for their own private place, that they will flood the market and raise rents like mad. Consequently, they will start a development boon for new apartment builders.

This sounds fairly logical considering most people wont allow themselves to grow old and still live with roommates (though you may know that this happens quite often, too). But there is a compelling argument that instead of hundreds of thousands of people flooding the rental marketplace and increasing rental demand, there could be another result from this doubling-up trend.

Aside from the renter who must double-up out of economic necessity, the mind set of the new double-upper is that of the adventurer, open to meeting new people, working outside the typical office, and traveling from one region to another. Instead of just leaving his/her shared space and looking for a regular apartment, this new type of renter will share housing a different way:by subleasing an entire place.

Share housing, or doubling up, will start house sharing across regions, and instead of sharing kitchen ware and internet access, the new demographic will share whole apartments, all while traveling different cities and subletting their own housing.

Settling down may never become mandatory. In a lot of ways, this transient culture was very much the norm before the idea of “owning” your own home became the mainstream religion. There was a wider acceptance that as humans we wander the globe searching to evolve rather than remain stationary. Of course the main difference is that instead of land being shared, now it is apartments. But in many ways it is the same concept. Maybe the traveling lifestlye is a cycle that is repeating itself, and we’re on the next progression to evolve with it.

-Gad Zigdon

One Isn’t Such a Lonely Number

“One is the loneliest number,” said Harry Nilsson.

Not anymore.

A new article in Bloomberg reported on an Edward Yardeni study that 50% of adults in America are single – not married, no families.

If you are in your 20s or 30s, living in the big city, it might not come as a shock. Look around. Even for your friends that are couples or have boyfriend/girlfriend, there is a good chance they each have their own place, and some of them might even be part of the growing trend of foregoing marriage and kids altogether.

But for economists, and even more importantly, the government, this is a huge deal. The more people grow older being single, the less they spend on wedding rings, baby diapers, and domestic items. Alcohol and dining out is a different story.

What does this have to do with housing, the biggest expense we all have to deal with?

Well, it’s not the best news for it, unfortunately. The main issue is that the longer people remain single, the more likely they will be renting—not buying—a home. Buying usually goes hand-in-hand with domestication (i.e. settling down to raise family), while being single favors mobility and flexibility, the ultimate advantage to being single.

So as the older singles keep renting, more and more younger single people are joining the rental market, consequently pushing rental rates higher. Homeowners and landlords love this. With the measly returns they get at the bank, they are more willing to keep their home or apartments than to sell, tightening the inventory of available homes for sale, leading to higher prices.

This makes it even harder for older singles to see themselves purchasing a home one day, and discourages them alltogether from that once reachable dream of marriage, kids, and their own home to raise them.

It is bittersweet, in a way. Yes, you stay single longer, enjoying the freedom it brings. But then again, you don’t pass to that next “level” that our parents and grandparents had entered so seamlessly. These are odd times we live in.

The future for this trend is not that predictable, but if you belong to this demographic, why wallow in it? You don’t really know what will happen in the future. Your best bet is to use this time to take advantage of the benefits of going solo. Travel, explore, use what the world has to offer. If you are not going to be on the “level” your parents and grandparents got to, allow the flexibility to achieve the level they never had.

-Gad Zigdon

What the Crackdown on Airbnb and Other Vacation Rental Sites Could Mean for Month-to-Month Room Rentals and Sublets.

If you live in a big city like L.A., San Francisco, or New York, you’re likely to know about the house-sharing industry and the websites that facilitate it, such as Airbnb, VRBO, and Flipkey. These websites are platforms for people to rent out their place (or a portion of it) by the night, usually for travelers wanting to save money on hotel expenses. These sites are innovative and progressive, and personally I find them to be an inevitable step in the great urban migration.

Thing is, lots of city officials are taking note of their popularity and reigning in their influence. New York, after a long legal battle, has won an agreement forcing Airbnb to reveal all host data. LA and San Francisco municipalities have begun to implement enforcements which would force those that are renting out their homes as vacation rentals to register as such and pay taxes accordingly.

Some places are considering all-out regulation, such as Malibu (http://www.latimes.com/local/la-me-malibu-renting-20140528-story.html#page=1) and Barcelona (http://management.fortune.cnn.com/2014/05/28/airbnb-uber-barcelona/?iid=HP_River). The obvious reason, as in the case of Malibu, is that neighbors are just not happy with nearby homes having people coming in and out every few days. In Barcelona, as is in most places, it’s the business of standard industries that’s being affected—primarily hotels.

But how are these backlashes against the house-sharing economy going to affect different segments of housing? Mainly through longer-term room rentals and sublets.

Renting out your room or living room on a month-to-month basis for help with your lease, subleasing your place when you are on an extended travel, or renting out your guesthouse has never really raised an eyebrow from officials and other industries. But will the crackdown on vacation rentals all of a sudden affect all those that are not doing it for income as much as just help with their housing expenses?

Most likely not.

This is mainly because subleasing space does not harm big business industries like hotels (that are for short term travelers) and apartments (that only make financial sense with long- term leases and low tenant turnover). Also, no detriment is posed to the city high enough for them to tax residents who sublease their space as there is with the vacation rental space.

So if you have a spare room, or a cozy living room, or perhaps your apartment is going to be empty for three months while you gone, consider subleasing your space. Make sure your landlord (if you are not the landlord) knows and make sure you get the right person(s) staying at your home. Done right, you can save yourself a lot on housing, and living in the city, that’s huge. It’s hard enough your daily lunch has crossed the 7 dollar mark!

-Gad Zigdon

Rent an Apartment or Rent a Room?

First time moving to a place on your own? Looking to find a place to call home? Before you start your search, decide if renting a whole apartment is the best route, as there is always the alternative of subleasing a room. There are pros and cons for both, but remember, it’s up to you to weigh the benefits and drawbacks.

RENTING AN APARTMENT:

Getting into a lease is a big step for both seasoned apartment dwellers and first-time-moving-out-of-my-parents’-house  renters. The major Pros:

Pride of ownership: It’s your place, your kingdom, your sanctuary. Aside from buying a home, this is the closest to having your own home. It feels good getting off work or after a night out heading to your home. You can decorate and design it the way you want, and in a way this apartment becomes an extension of you.

Privacy: Having your own apartment gives you freedom and privacy to do what you want without anyone judging or making remarks. Yes, cooking breakfast naked in your own place feels awesome.

A Step Up: Leasing an apartment is no doubt a step up in maturity level. Just naturally living on your own, paying rent on time, and taking care of the place daily will lead to self growth in who you are as a person.

Build Credit: Having an apartment that reports to your credit bureau helps you further build your credit, which in the long run will help you qualify for loans and a mortgage. Having utilities set up under your name will help your credit as well.

Home Base: Once you have your own apartment, you have your home base. This means that you are now ready to establish yourself in the area that you live in, and make your mark. You have committed to living there for at least a year; you’re a citizen now in that community.

Sounds pretty sweet to have your own place! But there are some drawbacks to renting an apartment:

Big Liability: When you are leasing a place you will be signing a Lease contract. Read it thoroughly, as there are a lot of issues you could be on the hook for. For example, property damage that exceeds your security deposit, or breaking the lease early. All this could result in a big headache.

Burns Your Wallet: Particularly in cities like New York and Los Angeles, renting an apartment can be more than 50% of your income. It is what it is. Everybody complains about it, but we all do it. Is it really worth being able to cook eggs naked when the rent is pounding your finances on a monthly basis?

Landlord Problems: Landlords can be cool, but usually they are sticklers. It is just the mental divide between being a renter and being a landlord, and the fact is, it is ultimately their place. With a notice, they can come to do an inspection, as well as restrict you from hanging that wonderful painting you painted if that nail creates big enough damage to the wall in their eyes.

What is the alternative? Living with your mom and/or dad of course. Just kidding. Well…maybe. There is the alternative of subleasing a room instead, which has its own pros and cons.

RENTING A ROOM:

Saves Money: Probably the biggest reason for anybody renting a room. Usually it can sometimes be half the amount of a nearby full apartment.

Social Atmosphere: This is actually a surprising pro people don’t normally think about until they start to be open about subleasing instead of leasing. Whether it’s one roommate in a 2 bedroom apartment, or 9 roommates in a big house (yes I have seen that many times), having roommates and sharing space together can be fun, especially in international cities where there lots of different eclectic people to live with.

Less Commitment: Normally renting a room is on a month-to-month basis, and if there is a sublease agreement it will usually have either a month-to-month term or be considerably less than a year. This allows great flexibility because if you do not like your stay or area you reside in, the lease is much easier to break than a standard lease.

Sounds like a practical plan to sublease, especially if you are a newcomer to the area. But beware of these disadvantages:

Social Atmosphere: Yes it’s a pro, but can also be a big con. Especially if you find out you’re renting from some creepy person or nonstop party animal. This is mostly a con if you are not good at reading people at first meet. If you are, then this should not be too big of a worry.

Not Stable: Renting a room provides you the flexibility to leave whenever you want, but it also provides the resident who rented you the space the flexibility to tell you to leave. So you might have built this great life around your place only to find out months later you have to go because your roommate’s best friend is moving in.

These are some definite pros and cons to both options when looking to move to a new place. In the end it comes down to what kind of person you are: private? open minded? extrovert? Analyze yourself and take it from there. Happy house hunting:]

-Gad Zigdon