Have some extra space in your home?
Get this: The average landlord can make up to $1,500 per month in passive income from renting a room alone.
Wondering how to collect rent from leasing out your spare bedroom?
If yes, find out how to rent out rooms in your house here!
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Room Rental Tips for Landlords
First of all, you are going to want to do these three things to prep for your new tenant:
- Get your home ready to host
- Pick the room that you need to rent
To prepare your home for viewing, you need to place a deadbolt on every door in your home. We highly recommend that you use SmartKey locks to get the job done. Then, take out any door knobs that lock themselves to prevent potential lockouts.
Now, store your valuables in a safe that’s both fireproof and secured to the ground and you should be good to go!
Next, spend some time picking the room that you need to rent. For instance, choosing one with an en-suite restroom attached to the room can help you make the most money from your room rental.
More Room Rental Tricks for Landlords
In addition to preparing to host your new tenant, you might want to consider taking the following steps to rent your room too:
- Decide on your rental rates
- Post an online advertisement
To get started, you should compare rates on other room rentals in your area via websites like EasyRoommate, Roommates.com, or Craigslist. This will give you a good idea of what your rental rate should be based on the type of room you are providing and your local ZIP code.
Lastly, be sure to post an online advertisement that reflects what you’re looking for in a roommate. For example, if you can’t stand college students who party or smokers who light up all day, you should mention this in your online advertisement.
Besides this, make sure to highlight amenities nearby your home. This included anything from neighborhood pools to the proximity to restaurants. Also, it pays to post the best photos of your home. If not, you may lose out on a lot of potential renters.
Need a hand with the property management process?
Pro tip: It doesn’t hurt to get in touch with Belong Property Management now!
Not Sure How to Rent Out Rooms in Your House?
Still not sure how to rent out rooms in your house?
If you’re nodding your head yes, have no fear – we’ve got you covered.
From getting your home ready to host to picking out the rooms you need to rent, there are so many different ways to prepare for your new guest. Not to mention that deciding on your rental rates and posting an online ad that reflects your values are smart steps to take as well.
On the hunt for more real estate tips?
If so, take a look at the rest of our real estate blog today!