After your roommate moves in and you get accustomed to each other’s schedule, the day-to-day life of renting out a room is uneventful. However, as change is the only thing guaranteed in life, there are some unusual cir circumstance. One was when I had to prepare for a hurricane.
I’ve been fortunate to have mostly positive experience with my roommates. On the other hand, there have been other “live-in landlords” who had some unpleasantries with roommates. I can assure you that these are far and few between stories. Most of the time roommates leave without any incidence and leave behind a room looking like this. When my rooms looked like this before they moved in. Roommates also cause other accidental damage around the house.
Most people think you loose all your privacy when you rent out your room. In fact, that’s not the case. Here’s my thoughts on the matter in a post when I rented out my first room in 2006. Having roommates can be beneficial in saving money in other ways other than just making extra cash. A guest poster, Paula wrote her experience about finding the perfect roommate.
The exact length of time a roommate rents a room varies. For me there’s been roommates who’ve rented a for a few months while other have rented for years. Obviously, if you’re looking to maximize your income, you want an occupancy rate near a 100%. if you’re a “live-in landlord” and a little apprehensive, I’d suggest someone who’s looking to rent for a few months, perhaps a summer intern.
I’m also an organized person and keep records of when my past roommates rented from me.
Some people think that renting out a room is like the popular AirBnB site. It’s a little different because I’m looking for long-term roommates versus vacation goers. There’s common lessons to be learned when it comes to screening potential people.