Rent a Room in Your House: Follow These 5 Steps for Maximum Protection

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. 

Renting out a room in your house requires even more scrutiny of potential roommates because you share a home with them. Many of the same guidelines apply to rental properties and room rentals, yet significant differences exist. 

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. Make sure to look at different room listing sites to understand your rental market. Sites like Spareroom.com, Facebook Marketplace, and Craiglist all offer the ability to search within a specific zip code.

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. 

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