I want to put one of the rooms in my house for rent. What are the ground rules and any other information i should know?
2007-12-06 15:51:28 · 4 answers · asked by Janet 1 in Business & Finance ➔ Renting & Real Estate
Put the agreement in writing. You're not required, but it's a wise practice. In the agreement, be very specific as to what you are expecting from your roommate, from the day the rent is due to how utilities are sorted out.
2007-12-06 16:02:54 · answer #1 · answered by Andre 7 · 0⤊ 0⤋
When renting a room out make sure you have a credit report done on everyone who is applying. That will help weed out some of the people. Also charge a security deposit (another weed out tool). You make the rules by stating what you want on the contract. Make sure you indicate in the contract when rent is due, if rent is late the penalty, whether utilities are included, Whether they can have friends over or even parties because ultimately you will be the one responsible because you own the house. Make sure you get extra homeowners insurance so that if something does happen your prepared.
2007-12-07 00:04:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Order a book on Amazon about Landlord's obligations and rights. Follow it carefully. I had a wonderful book and learned so much from it. The main thing will be your contract with the person. You must adhere to it. Remember, you can never kick anyone out but in every case they must be given a 30 day notice, as they must also give to you.
2007-12-06 23:56:53 · answer #3 · answered by moondrop000 5 · 0⤊ 0⤋
how much notice does a tenant have to give a landlord who lives in the home that they are moving out?
2014-02-25 01:43:43 · answer #4 · answered by Pat 1 · 0⤊ 0⤋