A Houston homeowner has come up with a clever way to make some extra money.
Lydia Afeman custom-built her modern home in the Heights, so it can convert into three separate apartments to rent out.
She says she came up with the idea in 2010. She wanted her living quarters are on the first floor of the home, with separate rental units on the second floor and in a back apartment.
“You build a big space and what do you do with it? Half the time people don’t live in those units in the space. This is like monetizing your investment,” said Afeman.
The units can be closed off, so tenants have private space. Each room also comes with its own kitchen, bathroom and outdoor space.
However, Afeman admits the idea isn’t for everyone.
“I lived in Chicago and I lived in high-rises, so I was used to having a lot of neighbors. You have to get used to having other people living in your property. You’re not in a high-rise,” said Afeman.
She says she’s targeting corporate tenants who stay for longer periods of time.
“It’s a great revenue stream. I have a full-time day job and I wouldn’t give up my day job to do this. It’s a good extra income. I think if I wanted to retire – if I added 3, 4, 5 more units – it would be a business,” said Afeman.
The homeowner has the apartments listed on rental sites like Airbnb, Corporate Housing by Owner, HAR, and Craigslist.
For details, click here: http://abnb.me/EVmg/1tEOTAeoaB