How to Rent Out a Room in a Private Home
Renting out a room in your private residence is a big deal that needs some careful consideration and planning. Determining what you will charge, the type of person you're willing to allow in your home and how long they will stay to start are all things that you need to think through before placing an ad and interviewing anyone.
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Instructions
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Prepare the room you plan to rent out. Clean it thoroughly, paint if necessary and decide whether or not you'll have it furnished for the tenant. Consider installing a separate, private phone line at minimal cost to your monthly bill. Since no one wants dial-up Internet anymore, switch your house to wireless service.
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Decide on a firm rent and deposit for the room that you won't go below. Some potential tenants may try to bargain down the price. Depending on their situation or how much you like them, you may want to lower it a bit if the right person can't pay what you're asking.
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Add up what you imagine the renter will use in utilities. If the monetary amount is significant, you may want to raise the rent some and advertise the room as "utilities included." It may compensate you getting bills for someone who leaves the lights on all day when you're a conservationist.
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Set up a profile of the type of person you're looking to rent your private room to. Be as specific as possible to ensure a good match and a happy tenancy. Include things like sex, age, marital status, pets, cleanliness and schedule. The factors are up to you.
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Determine what kind of background check and application, if any, you'll require to screen potential tenants. Larger cities might have services available that help screen applicants for a fee.
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Start advertising. Be sure to tell your friends and family; sometimes personal references can be best. Advertise on Craigslist, in the local paper or anywhere close to the hang-outs of the demographic you're looking for.
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