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Renting Out a Room in Your House
How can you rent out a room, while still
making sure your family’s safety stays
intact? Here are Four steps to ensure a
comfortable boarder situation where
Look at Your Space
Before you do anything, identify the house, or
rooms, you have available to rent out. House
with access to a private bathroom, or
“basement room,” will get you more in rent than
Check Local Rents
Do you know how much other rooms and house
are going for in your area?
Use a site like Circlapp.com to see how much
you can reasonably charge for rent based on
your zip code, and local rates.
Personally Interview Tenants
Once you start getting calls about the rent, it’s up to you
to personally interview each tenant. During the interview,
you can request to see proof of employment or student
status, and ask them about their living habits.
It’s also important to call the references they give you.
Check with their past landlords to see if they paid rent on
time, and if they left their apartment in good condition.
Do a Credit and Background Check
Once you’ve found a tenant you think might be
a good fit, do a credit and criminal background
check on them. Although it may seem like an
irrelevant step, doing a credit and background
check is money well spent, especially if you find
out your potential housemate has a rap sheet.
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