Renting out rooms

Teirney · Post by **Teirney** » Mon Jul 27, 2009 7:03 pm

We are cleaning out 2 of our extra bedrooms to hopefully rent to students this fall to make extra money for the winter. I've been running up and down a 20 step staircase all day to bring the junk down. We need to make use of the extra space, 4 bedrooms and just the 2 of us.
Anyone ever done this, we are a little nervous about doing it..but hope it will help us get through the winter. We over extending going to visit our kids in January and now we have to pay the piper so to speak.

Sava700 · Post by **Sava700** » Mon Jul 27, 2009 8:23 pm

I wouldn't do it unless you had access outside to a room like an outside room and a way for them to cook meals and such.... otherwise your going to have to make sure you interview pretty damn good and not cause I'm a guy but I'd stay with a girl renting it since its true they are neater

Post by **YeOldeStonecat** » Mon Jul 27, 2009 8:35 pm

It can be great. It can also be tough. Interview well.
If you're an at home person and love to cook...notch the price up a bit and include family style meals as an option, like 5 morns/nights a week. Lots of college kids to this and form great friendships with their host, like an extended family if you will.

Lay down rules and state they're inforced.

Sava700 · Post by **Sava700** » Mon Jul 27, 2009 8:49 pm

If I had the extra space I'd fix it up for a part to rent...great idea with two colleges in this area it would be easy money. But as cat said also.... rules and get them in writing and have them sign it... conditions to the rent. Have a lawyer draw it all out too keep it legal.

Joint Chiefs of Staff · Tue Jul 28, 2009 1:03 am

When interviewing I would include the parents in the applicant process.

TonyT · Post by **TonyT** » Tue Jul 28, 2009 6:40 am

We rent a room to a 23 yr old guy who works around the corner. He has use of the kitchen, separate bath, laundry and our 2nd refrig in garage. We don't provide his meals. He's trustworthy. Rules are set such as no parties, etc. And he realizes that he's out on the street if he screws up. He's staying here till he gets on his feet.

Gixxer · Post by **Gixxer** » Tue Jul 28, 2009 8:25 am

risky business.

Humboldt · Post by **Humboldt** » Tue Jul 28, 2009 11:59 am

Gixxer wrote:risky business.

What is a bad early 80's movie starring Tom Cruise?

South American countries for $1000 Alex.

Teirney · Post by **Teirney** » Tue Jul 28, 2009 1:21 pm

Humboldt wrote:What is a bad early 80's movie starring Tom Cruise?

South American countries for $1000 Alex.

Gixxer · Post by **Gixxer** » Tue Jul 28, 2009 1:22 pm

Humboldt wrote:What is a bad early 80's movie starring Tom Cruise?

South American countries for $1000 Alex.

deep in the forest of this continent where a bad roomy's body lies buried.

Teirney · Post by **Teirney** » Tue Jul 28, 2009 3:01 pm

I have one prerequisite..females have to be fat and ugly.

MissTynker2 · Post by **MissTynker2** » Tue Jul 28, 2009 3:06 pm

My daughter rents out 2 rooms to college students. She uses a simple rental agreement to begin with, adding to the other stipulations section as to what is and is not allowed. A 30 day notice is required....with deposits.

It appears one of her biggest draws is a wireless connection...she also posts on College campuses, when a room becomes available..along with the use of Craigs list...requesting college students apply. Then she sets up a meeting with them...gets a rough background check...whether they are now employed...or how they intend to make rental payments. If someone else is going to be responsible for all or part of the payment..she then interviews that person..they also co-sign the lease.

She has had just terrific luck with students. Hope you do too! Good luck!

Teirney · Post by **Teirney** » Tue Jul 28, 2009 11:52 pm

I've been thinking..the safest way to do this is if I never leave the house over night. That way there can be no parties, theft or damage.

Humboldt · Post by **Humboldt** » Wed Jul 29, 2009 12:58 am

Teirney wrote:I've been thinking..the safest way to do this is if I never leave the house over night. That way there can be no parties, theft or damage.

I wouldn't rent to someone I won't be able to trust enough to leave the house overnight in the first place. You could never be home all the time.

Mad_Haggis · Post by **Mad_Haggis** » Wed Jul 29, 2009 1:33 am

No squatters rights in Ontario. Need more info.