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Home > Want to rent out a room in my basement

Want to rent out a room in my basement

August 4th, 2010 at 06:08 pm

I have a finished basement, it is a walkout/daylight basement so very nice.

I would like to rent out a room and have been looking on my towns free website and after doing some math I am thinking $350 or $400 per month IF they want in garage parking for one car. I am thinking $600 IF they want two bedrooms and one car parking.

I am scared, How does one start to find decent renters, this is really important as they will be sharing a home with me.

I am trying to sell stuff from around the house to get extra income but at this point I am thinking I need to do something bigger. If I get a second job then I have to get daycare plus the way my contract reads I would have to get the MOONLIGHTING approved through my employer so that is does not reflect poorly on my current employer.

I am thinking the renting of the room would be better/easier. I figure if I rent out both basement bedrooms then I can move my sons playroom/toys into the storage room. I have been slowly emptying out the storage room by getting the stuff tagged for my next rummage sale.

Any advice?

Posted in House Related, About ME! | 6 Comments »

6 Responses to “Want to rent out a room in my basement”

  1. MomEsq Says:
    August 4th, 2010 at 07:22 pm 1280949761
    1280949761

    Try doing a google search for and landlord. Often, there are good articles outlining your responsibilites as a landlord and pitfalls to avoid. Renting a room can be a great way to make $, but it can also cause a lot of headaches. Good luck with whatever you decide.

  2. Joanne Says:
    August 4th, 2010 at 07:30 pm 1280950236
    1280950236

    Hello.., I just wanted to bring up one point... Not to sound negative... One of my neighbors did this.. rented out part of their basement, and got in trouble. Someone must have complained to the town.. Our neighbor said the town said it's a private residential area, & it was a basement not approved for living/ renting out it was considered illegal.. Neighbor had to give back rental money, & town could have fined them. Perhaps you can check if this is okay, where you live? Maybe you have. I knowthat our neighbor wished they had checked. Someone must have complained to the town. It is mostly single families, it could have been anyone. Good luck...

  3. nmboone Says:
    August 5th, 2010 at 07:03 am 1280991810
    1280991810

    I sure wish I could rent it out! I'm looking for a place to live and that price sounds like what I'm looking for. Too bad we most likely don't live near each other, lol!

  4. LittleMsMom Says:
    August 5th, 2010 at 01:12 pm 1281013933
    1281013933

    nmboone, We dont have a Walgreen's in our state, the closest one is one state over so pretty sure we dont live near each other....Bummer.

    Joanne - I will look into it but since I could not sell my house because our neighbor was parking multiple cars on their yard and have at any given time 5 cars in their driveway; I am pretty sure they will not complain (that whole if you live in glass houses you should not throw rocks thing).

    I am sure the renting thing will be a back burner thing until I get more information, I would like a situation where it is more I am letting someone stay with me BUT they are paying me a going rate for temporary housing.

  5. Looking Forward Says:
    August 5th, 2010 at 11:34 pm 1281051252
    1281051252

    Around here it's common to share a house due to high housing costs. In the newspaper classifieds it's listed as "Share Rentals".
    But are you okay with sharing the kitchen, laundry, etc.etc. just like a roommate???

  6. Zestfive Says:
    August 9th, 2010 at 03:41 am 1281325307
    1281325307

    I rented out my basement bedroom when I first got divorced. It certainly helped in the short term but the woman had been diagnosed as borderline personality disorder which didn't bother me until she turned on me. It took a few stress filled months to get rid of her but it could have been so much worse. I think she lived with me a year or so...maybe a little more. When she finally did move out, I felt confident in my finances that I never had another roommate again. Good Luck!

    Oh, how did I find this woman? she came recommended by a woman I knew from church. I would say...be wary of the people who are looking for a temporary living situation like this...

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