A good friend of mine gave me a call the other day and asked if I could help him lease his investment property in Falls Church, VA. He owns a 5bd 3bth house and rents out the rooms separately to various roommates. This listing is for the master bedroom and bathroom. There is a lot of value here from the tenant's perspective.
First off, the home is located in close proximity to the East Falls Church Metro station. This makes commuting into DC and/or Arlington much easier for the working professional, or for the person who likes to go out on occasion and enjoy the area's nightlife. In addition to the location, living with roommates is a great way to save money while staying social and meeting new friends. By renting this room, you could potentially save over $5,000 throughout the course of the 12 month lease! See below..
Rent difference: 1bd/1bth apartments in Falls Church are, on average, going for $1,500. This room is listed for $1,200, that's a $300/month savings or $3,600/year.
Utility difference: Living alone, you would pay around $160/month. However, with a roommate, you can expect to pay around $80/month or $960/year in savings.
Use of furniture/TV/Kitchen Supplies: The home is fully furnished, so you don't have to deal with moving and purchasing furniture: $1,000 savings.
Bottom line: Having $5k in your pocket at the end of a lease to roll into a down payment on a new car or home... PRICELESS
If you or any of your friends are interested in taking a tour of the property please don't hesitate to reach out to me. We'll get you scheduled to take a look in no time.