Q:

How can you rent your basement for extra income in Maryland?

A:

Quick Answer

Single-room listings are listed with such services as Airbnb and EasyRoomate, but Maryland homeowners must ensure the room is up to code and that they are following all neighborhood and city zoning laws, according to Zillow. Owners also need to consider federal, state and local taxes, states Investopedia.

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Full Answer

Landlords in the state of Maryland only need to rent with written leases if they are renting out five or more units, as claimed by the Law Offices of Edward J. Maher, P.C. A landlord in this state must give a receipt if a tenant pays with cash or requests one, and he must keep records stating the date the rent is paid, the amount paid, and whether or not receipts are issued. The law office advises potential landlords to seek legal advice in regard to such things as security deposits and evictions.

Airbnb enables homeowners, whom it calls hosts, to list rooms, apartments and entire homes and accept payments from tenants using only the website, as explained by Airbnb. Each booking is backed by the service's host guarantee to protect hosts against property damage, nonpayment and more.

While EasyRoomate is a great service for individuals looking to find potential roommates, landlords and homeowners use the service to find potential tenants, as noted from the service's website. Placing an ad is free, and landlords are able to list differences between what utilities they cover versus what tenants are required to cover and what amenities are included.

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