Advice on Renting Rooms

[Daniel J Lopez]

Hello everyone, as the title says I’m looking to rent out 2 rooms in a 3 bed/ 2 bath house. What helped you crunch numbers on how rent, utilities would work? Thank you!

[Victor So]

Quote from @Daniel J Lopez:

Hello everyone, as the title says I’m looking to rent out 2 rooms in a 3 bed/ 2 bath house. What helped you crunch numbers on how rent, utilities would work? Thank you!

I have several properties where I rent by room here in Chicago. Personally, I include all of the utilities in the rent just to keep it simple. For market rents, I go to Facebook marketplace, Zillow, roomies.com, etc and see how much others are charging for their rooms for and the quality of the furnishings they provide. After a while, you get a general sense of how much rent to charge your tenants and what amenities and furnishings to include.