Renting Rooms - Posted by Felisza


#1

Posted by Dave (CA) on December 07, 1998 at 10:21:00:

Felisza,

Treat this the same way you would if you were renting out a house. Collect a deposit, check references, have them sign a rental agreement, and most important, make sure this person is someone you can live with. (Are you going to live there as well?) Once you have one tenant, you should also let them help you evaluate future tenants. No sense in having one move in just so one will move out. I would also set clear expectations about the use of common areas and set up a cleaning schedule for the kitchen. Let me know if you have any specific questions. I did this for several years with little trouble, although I lived there as well. Also, I only rented out 3 rooms. I assume the more you rent the more trouble you will have.

Dave


#2

Renting Rooms - Posted by Felisza

Posted by Felisza on December 06, 1998 at 22:35:11:

I have a SFR with about 6 - 8 rooms in it. I want to rent out each room. If anyone has had any experience with renting rooms, could you please give me some guidedance.


#3

Re: Renting Rooms - Posted by Rob FL

Posted by Rob FL on December 07, 1998 at 21:21:37:

Make sure in your background check that you do a criminal background check as well.


#4

Re: Renting Rooms - Posted by DanM(OR)

Posted by DanM(OR) on December 07, 1998 at 17:56:44:

Check out Russ Witney’s book. “creating Wealth” That is how he started his multi-million dollar net worth.

Good Luck!

Dan


#5

Re: Renting Rooms - Posted by Carol

Posted by Carol on December 07, 1998 at 17:19:59:

Check out the licensing requirements in your city/county.
Carol