{"id":6780,"date":"2020-12-28T16:28:48","date_gmt":"2020-12-28T22:28:48","guid":{"rendered":"http:\/\/3.146.49.248\/?p=6780"},"modified":"2025-08-04T11:20:46","modified_gmt":"2025-08-04T16:20:46","slug":"the-ins-and-outs-of-renting-out-a-room-in-your-house","status":"publish","type":"post","link":"https:\/\/www.thelockup.com\/blog\/the-ins-and-outs-of-renting-out-a-room-in-your-house\/","title":{"rendered":"The Ins and Outs of Renting Out a Room in Your House"},"content":{"rendered":"\n

If you have a spare room in your home, chances are you\u2019ve thought of renting it out at some point or another. If so, that\u2019s great but keep in mind that renting out a room in your house isn\u2019t a decision you should take lightly. You need to carefully consider the advantages and disadvantages and then fully understand what it takes to make sure you have a successful rental experience. One of the most common reasons that people decide to move forward with this decision is the extra income, but there are plenty of things that can go wrong. In this article, we\u2019ll go over the ins and outs of renting out a room in your house including the pros, cons, and tips for a successful rental experience.  <\/p>\n\n\n\n

Advantages of Renting Out a Room <\/h2>\n\n\n\n

One of the main advantages that lead people to rent out a room in their house is the extra income<\/a>. The additional rent can be used to pay property taxes, contribute to your mortgage, or cover monthly expenses. It\u2019s a great way to supplement your main source of income without expending too much ongoing effort. Depending on what you decide to offer in your written rental agreement, you may also get a little help around the house. <\/p>\n\n\n\n

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If you\u2019re older and living along, renting out a room can give you some much needed peace of mind in case of an emergency. Simply having someone nearby, even if you don\u2019t interact with them regularly, is a great advantage for those who are worried about medical emergencies or falls. <\/p>\n\n\n\n

Disadvantages of Renting Out a Room<\/h2><\/p>\n\n\n\n

While there are a lot of advantages to renting out a room<\/a>, there are also a lot of downfalls. The biggest disadvantage to renting a room in your home to a stranger is the underlying concern for your safety and wellbeing. While it\u2019s important to use backgrounds checks, it\u2019s hard to know what someone\u2019s true nature is until you get to know them. You might feel uncomfortable or worry that your tenant will get into your possessions. It\u2019s also a risk as you never know who they will have over and what they\u2019re really like from a few interview questions.<\/p>\n\n\n\n

Another thing that can be difficult<\/a> is finding a tenant who you\u2019ll get along with. Living with someone who doesn\u2019t share the same habits as you can cause chaos and unrest in a household. If you enjoy going to bed early and you end up with a tenant who plays loud music late into the night, the extra money won\u2019t be worth it. <\/p>\n\n\n\n

Tips for a Successful Rental Experience<\/h2>\n\n\n\n

If you do decide to move forward with renting out a room in your house, it\u2019s important to take some measures to ensure a successful rental experience from start to finish. <\/p>\n\n\n\n

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  1. Check Your Local Laws or HOA Rules<\/strong><\/li>\n<\/ol>\n\n\n\n

    The first thing you need to do is check your local laws and any homeowner\u2019s association (HOA) rules and regulations. Tenant laws vary from state to state<\/a> and have certain requirements that you need to fulfill in order to legally rent out your space to someone. HOA rules also very by neighborhood and if your home is under strict HOA, you may not be entitled to rent out a room. <\/p>\n\n\n\n

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    If becoming a renter is legal, talk to your homeowner\u2019s insurance company about whether or not they\u2019ll approve it. Some companies actually prohibit this and will void your insurance plan, others raise rates, while others won\u2019t require any changes. <\/p>\n\n\n\n

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    1. Choose Which Room You\u2019ll Rent<\/strong><\/li>\n<\/ol>\n\n\n\n

      Even if you have an uninhabited room in your home, chances are that it\u2019s filled with some of your things. You might be using it for your office, a workout room, or a guest bedroom, but you\u2019ll need to make sure that any personal items are out and that you advertise the room furnishings as needed. Some people may ask that it\u2019s emptied so they can use their own furniture, so having a self storage unit available<\/a> is a great way to safely store your things.<\/p>\n\n\n\n

      If you\u2019re looking to make more money, consider renting out your master bedroom<\/a>. This will be more appealing to competitive tenants, especially if there\u2019s a bathroom attached. The best option for maximum rental income is a basement that has both a bathroom and a small kitchenette.  <\/p>\n\n\n\n

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      1. Properly Prepare Your Home<\/strong><\/li>\n<\/ol>\n\n\n\n

        In addition to choosing which room to rent, you\u2019ll need to properly prepare your home<\/a>. Think of it like baby proofing, but for strangers. Consider putting deadbolts on each of the bedrooms to give you renters privacy and protect your things. Make sure that your valuables are safely secured<\/a> either behind locked doors or in a secure self storage unit and go around your home to ensure that everything is fixed and working as it should. <\/p>\n\n\n\n

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        1. Determine Rent Price<\/strong><\/li>\n<\/ol>\n\n\n\n

          Next, you\u2019ll need to determine the right price for rent. First time renters often struggle with this, but don\u2019t worry. There are plenty of websites you can use to get an idea of what you should charge. If you\u2019re having trouble, try looking on Rentometer<\/a>. <\/p>\n\n\n\n

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          1. Create a Strategic Advertisement<\/strong><\/li>\n<\/ol>\n\n\n\n

            After determining the room that you\u2019re going to rent and how much you\u2019re going to charge, it\u2019s time to create a strategic advertisement. There are plenty of professional services that allow you to post your listing and find potential tenants based on compatibility\u2014take advantage of these sites. They give you the best opportunity to both advertise and interview potential renters all in one place. Make sure that you include pictures of the room and common areas along with any specific information that your renter will need to know.   <\/p>\n\n\n\n

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            1. Comply with Federal and State Housing Laws<\/strong><\/li>\n<\/ol>\n\n\n\n

              When you start to get applicants, make sure that you always comply with federal and state housing laws<\/a>. The Fair Housing Act (FHA<\/a>) is in place to prevent discrimination and it\u2019s therefore illegal to deny a renter due to race, sex, mental or physical disability, religion, familial status, ethnicity, or origin. There may be other laws in place depending on what state you live in, so always do your research and make sure that you don\u2019t put yourself in a position that can result in legal issues.<\/p>\n\n\n\n

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              1. Ask the Right Questions<\/strong><\/li>\n<\/ol>\n\n\n\n

                While complying with laws is important, so is asking potential tenants the right questions. There are certain things you should ask and certain things you should avoid. Legally, you can\u2019t ask applicants if they have children, but you can ask if someone will be moving in with them. Familiarize yourself with the FHA to be sure, but otherwise the following are questions that are safe to ask<\/a>:<\/p>\n\n\n\n