09 May 2018

Top Tips for Renting Out Your Spare Room

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If you’re looking for some extra cash, you might have considered renting out your spare room. This is a great idea that works well, but it is important that you consider everything before letting someone move in. We’ve put together a list of some things that you should consider when deciding to rent your room out.

Get References

If you are going to let someone move into your home while you are living with it, you want to make sure that both you and your property are safe. By asking prospective tenants for references from previous landlords, you can figure out who is the best tenant for you. Perform a few of your own background checks, have a look at their public online presence if you possible to understand what sort of person they are!

Providing Facilities

There are some rules when it comes to renting a room. You need to consider that you will have to include a bathroom and access to your kitchen. Although you may not want to share your space with them, it is not as simple as letting them sleep on your spare bed.

If you’d like to make some extra cash but don’t have the space, you could always use the space in your garden to build somewhere. You can buy all the custom-made parts from Armstrong Steel and have them ship it to you. This way you can build a steel building for your new tenant and give them more space!

Advertising the Room

If you’re going to rent a room, make sure that you advertise it in a safe place. You don’t want your message to reach the wrong people and you also don’t want to be only getting responses from time wasters! Using a trusted website such as Easy Roommate to advertise your room will make sure that everything is using the right channel. You don’t even need to pay to list it here so take a look at our advice on listing rooms.

Set Rules

People who rent out their spare rooms often have issues with their tenants doing things that they don’t want them to. This is why it is important to set out some ground rules before the tenant moves in. If you don’t want them playing music at 1am or having people over, make sure to tell them before they sign anything. This way you can avoid any problems and be happy with your tenant.
Inform the Right People

If you own the house you live in, you cannot simply just rent out your room. It is important that you inform both your mortgage provider and your insurer just in case something happens. By doing this you will cover your tracks and ensure that everything goes to plan.

Summary

Overall, we think that is important that you make sure to consider everything when you are thinking about renting out a room in your home. Being a live-in landlord is different to one that is not present so make sure to do your research!

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