How to Turn a Home Into a Boardinghouse

There are many reasons for turning a home into a boardinghouse. Financial problems because of layoff, cut hours, insufficient retirement or debt top the list. A house is the greatest asset many people have, but sometimes it is the main source of financial difficulty due to high payments, utilities and upkeep. Make your home earn income for you; turn it into a boardinghouse.

Instructions

Difficulty: Moderately Easy

1. Research the housing and rental codes in your area, and seek zoning for a multifamily dwelling. Many residential areas don't allow people to take renters into homes, but group homes for the elderly or disabled may meet code approval.
2. Acquire a sales permit, business license and any other permit necessary to turn your home into a boardinghouse. Check with your city or county regarding the collection and payment of required taxes, and investigate the health laws.
3. Rent extra bedrooms in your home to full-time boarders. Find extra space by having family members share rooms.
4. Build on to the house to turn your home into a boardinghouse. Find a reputable builder to complete a basic structure, and complete your own finishing work to save money.
5. Provide meals, room cleaning and laundry services to your boarders to earn additional income. These services are likely to interest single men and elderly people.
6. Turn your home into an affordable boarding house for college students if you are located near campuses. Take into consideration that students will live there on a temporary basis.
7. Open your home to relatives. Many families are going back to the tradition of parents, children, grandparents, aunts, uncles and cousins living together and sharing expenses.