Have you ever thought of renting out your spare bedrooms for extra cash? The idea might look like a no-brainer especially if you have a lot of space that is not being used. However, before you begin advertising your bedrooms for rent, there are key points you need to put into consideration. Here are 5 tips to consider so as to lease your bedroom for extra cash successfully:
1. Ensure you are allowed to rent a bedroom out.
This may seem obvious, but if you’re a tenant, you must check with your property owner first. Many times, subleasing cannot be an option in the rental agreement.
2. Perform due diligence.
Immediately you discover that you can rent out your spare bedroom, it is high time to start your research. Each location, room style, and house type will be charged differently, and it is vital you don’t put a price tag that is too low or too high on your bedroom. You can check local real estates in your region to know the average rental bedroom costs.
3. Consider added costs.
There are other added charges to take into consideration when renting out your room. Is there anything else you’d want to charge the new tenant? Things such as utility costs, cable & the internet plus whether the bedroom will be refurbished or not are key points to factor when setting the price of a room.
4. Place Your Ad
You can put an ad for the rental in a local bandar sunway room rental, but you will most likely have high success when using a website such as Craigslist. When creating the ad, be detailed about your rooms; you can upload photos of the rooms since they’ll get more response compared to a plain text ad. Besides, make sure you are clear on the kind of access your tenant will have towards the bathroom, backyard, and kitchen. If your house has perks such as a hot tub or pool, make sure you add them into your ad if the tenant can access.
Most important, be precise about the tenants you are looking for and the rules your tenant will have to live with. For instance, you may want to open your house up to the college students. You may request them to keep low tone past 2200 hours, or that they be non-smokers. Some households with children usually go for female renters and require them not to have overnight male guests.
5. Personally Interview Applicants
Immediately you get calls about the rental ad; it is up to you to interview each applicant personally. When interviewing student rental, request for proof, either a student status or employment; you should go on and ask them about their living habits. At this point, you should trust your instincts and go with a person you feel more comfortable and secure with, plus whose behavior closely mirrors those of your family and you. It is also essential to reach out for the references they give. Check with their previous landlords to know whether they pay rent on time, and also if they left the house in good condition.