Rent out a room by determining the appropriate space to offer, checking local rental rates, posting a rent ad, interviewing applicants and running credit and background checks. Before advertising the room, determine which space is the most desirable for a potential renter.Continue Reading
Rooms with their own bathrooms or more secluded basement apartment areas are typically the most desirable, as they offer the most privacy. After deciding on a space to rent, research local rental rates to determine a fair price. Rental sites such as Rentometer can help homeowners determine how much to charge.
Posting the rental ad on websites such as Craigslist allows owners to give details on the available space and list qualities desired in a renter. Be sure to post pictures and a detailed description of the room in order to receive the most responses. This is also the opportunity to list any ground rules regarding cleaning, guests and noise levels.
Interviewing potential renters lets homeowners get a sense of their personalities as well as learning other details, such as employment status. Also talk to former landlords to find out any potential problems with a renter. Before deciding, also consider running a background and credit check using a site such as Equifax.Learn more about Geography