Considering Renting Out Part of My House

St. Petersburg, Florida
February 3, 2016 7:28pm CST
I am one of those you could say was house rich and money poor. I have four properties and five units that are rented. Two are duplexes. But even with property, and choosing to work only part time, I find my funds are often scary. So, I am considering renting one of the upstairs large rooms in my house (with bath) to a woman I already know and like. She is quiet, doesn't smoke, doesn't have a car, and works two jobs. No pets or boyfriends, either. The dream tenant, right? Well, probably. But I have never shared my house with anyone, and the idea is a bit unnerving. But my house is big, and I don't use the room under consideration. My upstairs cat does, but she doesn't get a vote I think a lot of people have a large house or apartment, and are needing more money flow. It is hard to consider sharing the house, but it is worth trying, to ease money concerns, for sure. I have met people who rent a room and bath for $600 a month, with all utilities included. They have their little refrigerator and microwave, and they think this works for them. I know people who buy houses with several bedrooms, and rent out the whole house by room, with shared kitchen. They are making a fortune. These are just things to think about, for those of you who might be looking for some extra money, and have space to rent.
12 people like this
15 responses
@jaboUK (64354)
• United Kingdom
4 Feb 16
Like you, I wouldn't fancy sharing my house with anyone other than family. But if I was on my own I may do so, but it's taking a bit of a chance getting the right tenant. The one you are telling us about does sound ideal.
3 people like this
@T_gray (7774)
• Salina, Kansas
4 Feb 16
I have done this in the past. I have found it to be good and bad. I have been lucky and unlucky. Right now the roommate I have, I got very lucky with. And it has turned out to be good for the past year. If you decide to do this, I hope it works out. It sounds like a good idea to me since you know her already. And you need the money
2 people like this
@JudyEv (338357)
• Rockingham, Australia
4 Feb 16
We have thought of having a boarder but we don't really need to and it would impinge on our freedoms a lot. This sounds like a good tenant for you and, as you say, would create a cashflow.
1 person likes this
@Lucky15 (37374)
• Philippines
4 Feb 16
it will be great to have a part of the house rented. have to be careful with those who will be renting though
1 person likes this
@fishtiger58 (29820)
• Momence, Illinois
4 Feb 16
My house is a bit big but I don't want anyone else living here. But is does sound pretty good,
1 person likes this
• Indianapolis, Indiana
4 Feb 16
My room mate sounds exactly like your friend. Doesn't smoke, has two jobs, and doesn't drive.
1 person likes this
@Marcyaz (35316)
• United States
4 Feb 16
MY son lives in another State in the summer time and rents a room in a house for generally $300 to $350 a month. The last place he lived the guy rented out all of his rooms except for one but he did have some problems with a couple of the tenants.
@scheng1 (24649)
• Singapore
6 Feb 16
In this case, just rent the room out. I am sure your tenant wants to bother you as little as possible. She sounds like a person who values her privacy.
@cherriefic (10399)
• Philippines
4 Feb 16
It can greatly help you moneywise. You can always just give it a try and just make sure your rules are clear to avoid conflicts in the future. Good luck!
@Teep11 (7673)
• United States
4 Feb 16
It sounds promising. That's a great way to obtain extra funds. I'm sure things will work out.
@Shavkat (139152)
• Philippines
4 Feb 16
We have also a bachelor's pad at the back of our house. Actually, it is my father's project while he was still alive. The family is experiencing tight budgets since we used the money for my father's medication. So we decided to have an extra income by letting other people rent the bachelor's pad. It was also the first time to have some tenants in the house. I guess it is being practical.
@moondebi (1199)
• Bangalore, India
4 Feb 16
Sharing with unknown might be uncomfortable, but have to adjust if it helps to aid the economy.
• United States
4 Feb 16
I would be worried that friendships could be strained after considering something like that. I think that it's a good idea for a means for more income, but then you have to think about more than just the bedroom you are letting but the kitchen situation as well.
1 person likes this
@LadyDuck (470445)
• Switzerland
4 Feb 16
I would not share the same entry I use, because I like my privacy. I would rent part of the house if I had a separate entrance. We could rent the lower floor of our house, there is a separate entrance and closing the door at the beginning of the stairs, it makes two separate apartments.
@alchemistrx (2547)
• Philippines
4 Feb 16
Our house is somewhat big too.If i'm alone I could rent this to ideal boarders.I need that extra cash flow in the future.