How to Rent a Room

So we have this amazing house, but only the two of us living in it.  What are we doing with the extra space?  Renting out a couple rooms to help pay the rent.  This is great if you have extra space you don't use, or if you have kids that have left the nest.  Luckily my amazing man has rented out rooms in his previous houses so he knows all the ins and outs (let me tell you I learned a lot).

Here is your basic guide to rent out a room.

BEFORE DECIDING TO RENT
There are a few basic questions you need to address before deciding to rent out your room:
1. Ask if you would want to rent out the room yourself.  The best rooms are easy to get to in a house and your tenant won't have to go through to much of your area to get there.  Your far back room past everything else is not a good fit.

2.  Ask if you really want someone else in your house.  By having a tenant, your secluded home is no longer going to be there.  You will have someone in your kitchen, laundry room, and with full access to the entire house.  If you have young children I definitely don't recommend renting to a stranger (background checks don't catch everything.

3.  Make sure there are no major repairs that need to be done.  See how much it would be to fix anything wrong in the room (a fan, blinds, paint, etc).  If you have a crappy room, you will get a crappy tenant.

4.  Look up landlord/tenant law.  There are a ton of things you as a landlord are required by law to do, and trust me you could be sued if you don't follow the guidelines.

5. What will you charge.  Figure out what you will charge for rent each month.  Look at similar houses in the area to get an idea.  Furnished rooms run higher than unfurnished, same with having a private bath.

6.  Start thinking of the rules you want for your tenant.  Again look at the tenant rights.  You cannot give someone a curfew, but you can have quiet hours in your house (when you go to bed).  Remember, you have to follow these rules too.

7. Download your forms.  There are many forms you can and should use when getting a tenant.  Renter agreement, deposit, move in/out condition, etc.  There are many places online that have these.  Try ezlandlordforms.com for everything you need (and they're free).

READY TO GO?
Now that you've decided to rent, there are more steps to take.
1. Clean the common areas and make space.  Making sure your house is clean from the beginning will set a good precedent, and you are more likely to get a clean tenant.  You also have to make space in the kitchen for another person's groceries.  Our storage in the kitchen is divided by 4 (how many people will use it).  You may find someone who doesn't want to use the kitchen and that's even better for you.  Also make sure your place settings are easily available (yes this person will be using your plates, cups, silverware, pots, pans, etc).

2. If you haven't cleaned the room to rent while looking for repairs, clean it.  You could have someone coming to look at the house the day you put up the ad (Not joking, we did and we were not fully ready).

3.  Take pictures.  Think of what you want to look at when buying a house.  Take pictures of your best features.  Be sure to include: the room, bathroom, common space.  You can also add: yard, front of the house, kitchen, utility room, any other common area they can use.

4.  Write up a lease agreement.  How long will they be staying, how much for rent, how will utilities be divided, where can they park, can they have guests.  Get all your forms (#7 above) together and start writing!  Anything you want to have cleared up before someone moves in.  Remember your ideas from #6 above and implement them.

PLACE YOUR AD!
Go to craigslist and place your ad.  Be sure to include pictures and any information you think may be relevant.  Look at other ads to use as a guideline.
DEFINITELY INCLUDE:
-Rent
-Deposit Fee
-Utilities
-How long you want them
-If you have pets/if pets are OK
-Move-in date
-Major cross streets
-If there is a college or major office area nearby

Once you place your ad, you will start getting responses.  You can either show your house on a one on one basis (what we did) or pick a time and date for everyone to come look at it at once.  You don't have to settle for the first person interested either.  Be sure to tell them before they come what the situation is, and to bring proof of employment (last pay stub, or a letter from employer if they just moved) if they are interested in moving in ASAP.

That's about it. Please be safe, and good luck renting!

XOXO,

Sarah