I love the idea of multiple occupancy for a property investment whether residential or commercial. In simple terms, Multiple occupancy means that you have several individuals/tenants share one unit of property. The concept is pretty awesome because the probability that an entire unit will be vacant at any one time is pretty low. For instance, you rent out a 3-bedroom apartment as a shared space to 3 different people, if one person moves out then you still have two tenants in the house covering the cost. Even better is the fact that you charge by the room. So instead of renting out your 3-bedroom at $1200 to a family or individual, you rent out each room at $500 or more giving you a net revenue of $1500; $300 more for the same apartment. Get it?
So here are some ideas of investment options that this strategy can be applied to
1. Student rentals (residential) – Rent out each room to a separate student. This is the least fussy group, because they are used to sharing spaces and have very basic needs.
2. Shared office space/working Space (Commercial) – subdivide one big commercial space into multiple offices that can then be rented out to various individuals (typically small business owners) sharing a few common spaces such as living room, kitchen, washrooms, and laundry.
3. Chair/Booth Rental at a salon or spa – Each stylist rents a chair is one larger salon and are responsible for their own customers
4. House of Multiple Occupation (HMO) – Similar to student rentals, but this is targeted more for working class individuals are may5. Pop Up Retail – Retails store sublets a space or section of their stores to brands for display and product launch. The mini markets also fall within this space, where you rent a large space and then sublet to individual retailers to set up kiosks or desks to sell their goods. Similar to this is the idea of pop up restaurants