All About Rent: How Much You Can Earn, Save and More

Posted by Silvernest Team on May 10, 2019 5:05:17 PM

HS Harmony_  All About Rent (2)

With Silvernest’s homesharing platform, it’s easy to create leases and homesharing agreements with clear and specific terms. Thanks to rent auto-payment, there’s also no shuffling checks around or awkward conversations about when the rent’s due. It’s a painless way to manage your homesharing agreement for both parties. 

 

The biggest question we get about rent, though, is "How much??" Homeowners want to know how much they can charge for their space, and renters want to know how much they can save by homesharing compared to market rent rates.  Here's how Silvernest helps users answer those questions.

 

 

How much is my room for rent worth? 

No two homes are alike—each comes with its own quirks and benefits. Some of the most important factors that contribute to the rental price you can charge for room(s) in your home include: 

 

  • Where your home is located: Neighborhood, school district, walkability, etc. 
  • The amenities you offerCovered parking, on-site storage or laundrybills or utilities included, etc. 
  • The square footage of the room(s) for rent 
  • Common areas the renter will be able to access (kitchen, living spaces, office, garage, etc.) 

 

Not sure how to determine how much you should charge for your space? Not to worry—Silvernest will automatically suggest a monthly rent amount for your space based on the details you enter. Learn more about our rent calculator here.

 

I need help with ongoing home maintenance. Can my renter help me out in exchange for lower monthly rent? 

One of the best things about homesharing is that it’s so flexible. You can design the living situation that works best for you and your housemateincluding custom arrangements like reduced rent for help around the house (dog walking, pet sitting, help with transportation/rides, lawn mowing, etc.). 

 

If you’re interested in this idea, just make sure you and your new housemate communicate and agree on terms you’re both comfortable with. We also recommend you avoid medical or caregiving task requests—leave those up to the professionals! 

 

How much do Silvernest homeowners earn by homesharing? 

On average, Silvernest homeowners earn about $10,000 in rent each year, or roughly $750 each month. What would you do with an extra $750/month? Here are some ideas...

 

How do I decide on a rental price? 

Many of us have not thought about how we would determine an appropriate monthly rent price for space in our home. That's why the Silvernest signup wizard includes a rent calculator that provides suggestions based on your property details.  

Sign up at Silvernest.com to test it out! 

 

How much do Silvernest renters save by homesharing? 

On average, Silvernest renters save about $850/month compared to what they would pay for one-bedroom apartment. If you’re a renter, you can find out the going rate in your area by visiting our listings page here. 

 

Can rent prices be adjusted after move-in? 

Of course! Our platform allows you to access and request changes to your lease at any time. You’ll have to mutually accept and sign off on any proposed changes.  

 

Homesharing is a great way to bring in some passive income while enjoying companionship, help around the house and more. Silvernest is built to make it as easy as possible to calculate a fair price for your space, find a roommate compatible with your lifestyle and set up a mutually beneficial homesharing arrangement. Learn more and sign up at www.silvernest.com 

 

Get Started

 

Tags: Homesharing, Income, How-To Videos