Profiting from Room Rentals

Big cities are known for their high rents and single people are often forced to share apartments with each other, which results in problems with splitting bills, late rents, phone calls, etc. So, when these people see a room for rent in a nice house with everything from local calls to cable TV included it doesn’t seem like such a bad idea! The trend is known as room renting and it is a quickly growing phenomenon in many larger cities.

So, how can you get started renting rooms? The first rule is to include everything so that there is no argument on what is owed for utilities, television, and other costs. Cancel long distance plans, get phone cards, and just have local service. Utilities that start running higher should result in increased rent. And finally, never enter into an arrangement to “share” arrangements for anything.

The value to renters should be readily apparent. There is no more fighting with the landlord and roommate-friends, no household bills to pay, and no money issues to argue over. It is easiest to have the renters pay money every other week when they get their paychecks to avoid any problems with monthly rent payments. There may be some regulation against renting rooms in some places, but these are rarely enforced and quickly changing.

So, how much can you make? Well, it is not uncommon to get around $100 per week for a room and with two rooms rented out that’s already $10,400 a year. Most of that is profit since household bills do not go up much with two more people in the house – it can be a lot of extra cash if you don’t mind the company!

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