How to Rent out a Room
So you’ve made the decision that you’re going to share your house, but now you need to get it ready! One problem, you have no idea how to get started! You are not alone.
While the extra income is attractive, sometimes the overwhelm of how to go about it can become paralyzing. Silvernest to the rescue.
Here are a few tips to consider as you prepare your nest for sharing:
- Assess the Room you want to rent. Take a look at the space– is it large enough for someone to live in? Is there a closet or room for shelves and a dresser? Would you want to keep your furniture, or are you open to your roommate bringing in their own furniture?
- Determine what areas you will designate as shared space and what is private. Imagine if you were the one renting, and walk around with new eyes: is there a space to relax and watch TV? Is there a place to hang coats and shoes when coming in the door? Determine what areas are to share, what space is for your roommate, and areas that are private for you.
- Check out your kitchen. Will the kitchen be shared? Is there a small bar area that can double as a secondary kitchen? Since the kitchen is often the center of the house, take some time to think through your preferences beforehand. If you are sharing the kitchen, think about carving out some space for your roommate to put their own food in the refrigerator, as well as a cupboard space for non-perishable food, and a cupboard to put their own cups, plates, etc. You may be surprised how easy it is to clear random items, put them in the garage and viola! Space for your new roommate.
- How much will you charge? Take a look online at other rental properties and shared spaces being advertised in your area. Get a sense of the current pricing for renting out a single bedroom, a full basement, furnished rooms versus non-furnished, etc. This will help you determine a price.
- Let Silvernest do the rest! Once you have made these decisions, it is easy enough to grab a cell phone with a camera, shoot a few pictures of your space, and begin filling out our online profile.
As much as you may try, it’s never possible to be 100% prepared, but planning ahead and setting your own personal expectations will help you and your roommate best adjust to one another! Much like it was in college, sharing space can be a little challenging at first. Going into it with a positive attitude and the best of intentions goes a long way to successful sharing experience.
You can learn more about homesharing at Silvernest.com – Silvernest boldly breaks the rules of aging so you can share your home on your own terms. We’re creating the next generation of roommates. A more modern kind. A well-matched kind. A kind that’s just your style. Because around here, the details are totally up to you.