How to Rent Out A Room In Your House | 6 Step Guide

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Are you considering taking a roommate in for subsidizing your mortgage or #househacking or looking for your new BFF?

If so, you're in the right place!

Here is a 6 step guide on how to rent out a room in your house.

Don't forget to download your free resources: sample lease agreement, roommate q's, roommate agreement & sample room advertisement for Facebook or Craigslist.

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I followed Max's advice about a year ago, using his questionnaire for new roommates, lease template, etc. It's been a great year, I made a lot of money with roommates. Thanks Max!

derrick

Hi, I had been renting my rooms for a few years.Because lacking of experience and no one to ask, also I was always feeling bad for others and try my best to help and I was end up living in a horrible situation. Untill now after I had been through alot of troubles I a still choosing the wrong one and I have end up giving him a notices to let him go.I will watching your video again to follow your advice cause my English not very well ...oh maybe because of this reason and so compassionately to help others that why I end up my self in the dark room crying for so long!!Thank u for talking your time to reading my messages. Good luck to everyone, be safe and God bless.😇💕

celianguyen

Great video. I've rented out my extra rooms for 5 years. I've deafinitely had a couple that I should NOT have rented to. I currently have a room empty so I want to make sure I vet properly and have a solid agreement in place this time. You would think I'd be an expert after 5 years lol. The first two were friends of mine who ended up not paying and taking advantage of me until I finally gave them the boot. So there's definitely something to picking the right roommate. I also did start out with one initially. Good advice.

NextSurvivor

Smart stuff and good perspective on the human side of the equation (which is every bit as important as the legal side)

derrickw

BEST video out there! Thank you so much! I all of a sudden saw my self in a situation that roommates are needed and you gave me a step by step, and gave us the forms. I was so worried about doing that and you took some of my anxiety's away! thank you again.

blondyyone

I rented to a friend. Of course that was a mistake. We were friends for 20 years. We don’t speak anymore. Please do not rent to someone you know.

gmack

I disagree with "Be a friend". This is primarily a business relationship. Too many tenants will take advantage of you if they think they're your friend.

I would replace that with "be friendly, but not a friend" until you know that the tenant can be a friend and keep that separate from the business aspect of your relationship. That's pretty rare. Keep in mind there's a reason the sayings "don't mix friends and business" and "don't mix family and business" exist for a reason.

The saving grace with you being the landlord is you can revoke the relationship and keep the business because there is a signed agreement.

thejohnbeck

I am planning to rent out rooms soon into the future, starting with just one is fantastic advice!!

alejandroaguanta-classical

This is the most helpful video I have seen on this topic. Thank you for giving me ideas on things I had not previously thought about.

audreylester

The most surprising thing is it turns out I actually like having a bunch of roommates. It reminds me of growing up in a full house. And it's easy to get along when these valued houseguests are paying my mortgage and utilities.

robinmarie

Great information.Thank you. I am a first-time landlord for a roommate. I have rented out my second floor for 35-years. My current tenant has been with me for over 30-years. I have a couple moving in shortly to rent a room from me. I asked them a lot of questions. Still, this is different than renting out an apartment. They will sign a rental agreement tomorrow. They are Free Staters who left California and moved to NH as part of the Libertarian Free State Project.

peakbagger

Thank you Max! Im going to check out your templates. Im an "Infj" lol. Introvert, with outgoing tendencies, have to say, thoughtful with people in my home. I have a cute house on riverfront wooded acreage..as an older woman with an artists studio out back, Im here but busy 18 hrs a day plus out caring for property, my present- first "roomate" has had the fully fitted house to themselves, plus I go out of town 2-3 X a mo. for 3-4 days aat, helping kids w new grandbabies so hes had it made, but does nada damn thing to maintain things...I didnt use the basics: documents or deposits, when allowing family member to take the space, easier since it was overwhelming (but needed) thinking of attempting the lodger thing... Im ready to do it right; learned a thing or two. Trying to get my space back to try again is proving difficult while there are health safety and other violations happening. Well thanks again. Good job, good head on your shoulders and a good heart. Well done :)

alaysiakayebutler