March 5, 2015
You are standing beside your bedroom door, looking at everything inside your room. The windows, aside from the building spider webs at the corners, look fine. The walls, its paint a little faded from time, still had posters of your favorite film or band stuck on it; the bed mattress that you bought two years ago still looked new, aside from some not-so-obvious spots from spilled drinks when you preferred to eat inside your room. After surveying your bedroom, you decided on doing something: rent it out.
This may be the first time that you have decided to rent your beloved bedroom, so here are a few reminders and tips on renting out your bedroom.
No one wants a dirty room; not me, not you, and definitely not your room’s future tenant. So if you have enough money, you can choose to have your bedroom renovated. Have the wooden furniture varnished and the walls and ceilings repainted; as it will add a new appeal to the future tenant.
If you have limited finances, you can simply clean it. Honestly, a simple sweeping of the floor, wiping and dusting of windows and furniture, and changing of sheets is more than enough to add a fresh appeal to your room. And while you’re in the process of cleaning your bedroom, consider double-checking the wiring to ensure the proper function of electronic appliances.
Just like actual companies, you may want to check your competitors’ rent prices. You wouldn’t want to overprice your room as compared to others, as this will definitely drive potential tenants away. Underpricing your rent will also affect your mini “business” negatively, since tenants will perhaps doubt the quality of the room they’ll be staying in. Don’t be scared of experimenting on the price range every now and then!
Do not forget to interview the applicants planning to rent your room. If you are the trusting type of person, you might start wondering why. Here are the reasons why. Just like works in the corporate setting, you’ll want to know the person you’ll be with. You’ll want to know the applicant’s lifestyle, whether or not it’ll fit yours (or maybe even just tolerate it). After all, you don’t want to have a housemate whom you’ll only have a quarrel with.
You are the boss of the place, thus you have the right to set the boundaries in the house. Being the owner of the place or directly related to him or her, you have the privilege of making the rules. However, just because you’re the master of the house doesn’t mean you can make policies that are too extreme and outrageous, like not singing Les Miserables songs; just reasonable rules like cleaning the dishes they used should be good enough.
Also, set boundaries. They are limits that your tenant must observe. This includes the items, materials, or appliances that they may and may not use, and the rooms that they can and cannot enter. These guidelines should help you live harmoniously with your boarder.
Renting your room is a great source of extra income without leaving the house. Still, you shouldn’t substitute it for a full-time work.