Preparing To Rent Out A Room In Your Home

Written By Alla Levin
September 23, 2020
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Preparing To Rent Out A Room In Your Home

Renting out a room may be something you have searched on the Internet numerous times if you are considering renting your spare room out. This is a great way to make some extra money each month, but you do need to be prepared. Below, we reveal the key steps you need to take.

When you rent a room out, you need to make sure that your home and the room in question is well maintained and safe. You need to have smoke alarms fitted, and you need to make sure that all fitted fabrics, bedding, and furniture have a manufacturer’s label that confirms it is fire resistant. Make sure all gas appliances are checked each year by an engineer that is Gas Safe, and that all electrical equipment is safe.

Whether you need a furnace gas valve repair or your alarms need new batteries, this all needs to be done prior to looking for a tenant.

If you own the property, you need to let your mortgage provided know that you are renting out a room. If you are a tenant, you should get permission from the landlord in writing. Aside from this, make sure your insurance provider is aware that you are going to be renting a room out in your home, and check your policy to see what is going to be covered. 

Check that all of the facilities you are providing are adequate for the kind of lodger you are looking for. You need to consider facilities for washing and drying clothes and cooking. 

Finally, decide what rent you are going to charge. It is a good idea to look online for similar rooms to see what prices they are being offered at. 

Why You Need To Meet Up With A Potential Flatmatepost a listing online

Finding flatmates has been made easy thanks to the Internet. You can now post a listing online and interested parties will get in touch with you via email. While this is convenient, you should still meet up with a potential flatmate before you sign any contract.

It can be very tempting to send someone a contract via email and agree to the terms and conditions before you even meet them. After all, if they pass the necessary checks and are able to pay their rent, what else do you need to know? This is especially tempting if you are in a rush to rent a room out. And, let’s face it; none of us want a room vacant when it could be making some extra money. Nevertheless, when you are looking for a flatmate – someone you are going to have to live with – you need to know a bit more about him or her. 

While you don’t need to find someone who is going to be your friend, you did need to find someone that is compatible with you in terms of living arrangements. This is something you are only going to get a feel for when you meet up with the person. Someone’s personality over text or telephone can be very different from what they are like face-to-face. You can also ask them questions and they won’t have time to think of the answer they think you want to hear; instead, they will be more likely to answer honestly. 

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