It doesn't feel sad when you're getting three rental incomes instead of one! In any case, there is a genuine need for this style of accomodation. They are a godsend for those on assistance or low incomes as they are an affordable option.
Yeah it's great for the landlord! An 3 room apartment that would normally go for $600/month can be easily rented for $250 per room in certain areas which are popular with students and other people with low income. It's a big more work for the landlord but also more money in the pocket. And yeah it's great for those on low income. I used to live in these for a while when I was unemployed... it's not ideal but I got a big room and a nice kitchen (shared) and a decent size bathroom with a bath etc (also shared) for a price way below that of even the smallest apartments in the area.
Agreed Shilpa, anyway it all depends on the will of a person, i guess, but in my situation, i don't see myself subdividing my land/property...i'd rather rent it as a whole
I've never lived in a subdivided land but I know my mum refused to live on one. The plot was huge so building two houses wouldn't have been different to having neighbors but she refused. I know however it is excellent for business. A friend if ours turned his plot into a plaza. So he now gets rent for many shops instead of one big property. That's pounds in his pocket.
It is not unusual in many large homes in the U.S to have areas that are sub-let There is a difference between sub let and sub dividing. Sub dividing means you section off a portion of property or a building and that becomes a private separate area. Sub letting means that you share areas with someone and they may only have a room(s) that are for their exclusive usage. In both cases you make some money, but I think in sub-letting it is a much more personal experience because it is the same as having a room mate. Sub-dividing land is a whole other kettle of fish. Most people might be a bit concerned about buying a plot, or developing a plot without a clear plan of intent for the full property. No one wants to put up a townhouse and then three years down the road have a business go up right next door without knowing in advance this could potentially happen. usually when it is land it is zoned, more times then not for property or commercial, but seldom combined for both.
My family has been in the business of buying and selling lands once their value increases. It's my dad who basically started it all. He would buy a piece of land, subdivides it and sells them. It has actually worked for him because he was able to sell the lands faster because of the affordability of a smaller piece of land than a bigger one.
