Welcome, thanks for stopping by. This site isn’t a place to advertise your spare room. It’s my first hand account of dealing and living with roommates I’ve found using the internet.
So, you’re interested in renting out your spare room to make some extra cash, but you don’t know where to begin?
Don’t worry. I had the same feeling when I first started this shindig back in 2006. So obviously our first inclination is to search the internet for more information, after all it is the digital era, right? To my disappointment, however, all I found were one-page wikihow.com and about.com articles that weren’t very detailed and probably written by someone who hasn’t rented out a room nor has much experience.
I was on my own and took the plunge…
After taking the plunge to rent out my first room, I realized that the process was a bit more involved than the descriptions in any internet articles. For instance, many of these articles list the first step as creating an advertisement to find a roommate. I beg to differ and I explain in detail what the first step is in my Quick Start Guide, which is available for download in the side bar.
With the lack of resources out there, I figured blogging about my real life personal experiences in renting rooms to roommates would be an excellent way for me to share my thoughts and tips. One helpful thing I learned was how to determine if your roommate is a slob before they move in. Tips like this aren’t even mentioned in those wikihow’s and I’m sure others would love to know about it. Additionally, they don’t mentioned anything about warning about roommates using your internet.
I admit, there were uncertain times when my spare room went empty for several month. There were also times when I felt relieved or when times were easy. What ever the case, I persevered and rode the learning curve of renting out a room. I’m glad I did because the financial gains were enormous. I couldn’t imagine where I would be had I not rented out my spare rooms.
HOW THE RENTAL BENEFITED ME?
So far, the extra cash from renting out my spare room paid for graduate school (which cost about $34,000) without my having to borrow a single penny in student loans. Now that I’ve graduated with my degree, I am continuing to rent out my room until I reach my goal of paying off part of my mortgage. I know that having a stranger move into your home can be a scary proposition; after all, your home is your most private space. At first I was a bit skeptical too. Thus far it has actually enriched my life, and I have gained friendships through renting out my rooms. It truly can be a win-win situation for both the homeowner and the roommate, especially in these hard economic times.
Also, sometimes it’s best not to have friends as roommates. I’m not saying having friends as roommates will never work, but when you’re the homeowner, it invariably adds a different dynamic to the living arrangement. Lastly, if you don’t want to deal with roommates and still want to make money, perhaps renting out your empty space is a more appropriate alternative for you.
Feel free to post questions and comments in the comments section of my posts. Or, if you want, send me an e-mail.