How to Rent a Room in Your House

If you own a home and want to make some extra money every month, here is a guide on how to rent a room in your house.

Renting a Room vs. Renting Out a House

Having a rental property is very different from renting a room out in your house. When you rent out a room, you will be sharing space with this person. Conversely, you do not live with your tenant when you have a rental property.

How To Rent a Room

Step 1: Price Your Room Competitively

Before you decide to take in a roommate, you should research how much money you can charge for rent.

Step 2: Be Specific in Your Room Advertisement

The easiest way to have your notifications light up after posting your ad is by being vague. A roommate ad should support your desire to find the perfect roommate and spell out the specific characteristics and attractive traits you want in a roommate.

Step 3: Ask the Right Screening Questions

Once the ad is active, people will begin calling you. Prepare several questions to ask them to get a sense of who they are and if they would be a good fit for you.

Step 4: Have a Solid Rental Agreement

New room rental landlords get into trouble when they rent to a mutual friend without a written agreement. This new roommate takes advantage of the friend-lord, and it ends up damaging relationships in the end.

Swipe up for  more about How to Rent a Room in Your House!