First time renting - renting a room for "a few days a week"?
I have purchased a house last month and moved in (partially) and stumbled across someone who needs to rent a place in town for a few nights a week. ..
The house is a 2 bedroom, 2 bath but there is a room that looks to have been converted into a small living area from what appears to have been a bedroom previously that I am going to turn back into a 3rd bedroom. I purchased it as an owner occupy, 5% down so I have to live here one year. I plan to do work on the house in several rooms during that year, but it would be nice to have the additional income to offset costs from renting a room or two.
The situation is that she is a school teacher who lives an hour and a half from here but was hired to work here locally this year. School started this week so she is making the drive daily and would like a place locally to stay during the week... apparently not every night of the week but she doesn't want to have to drive home every night...
I have no idea how much to ask for rent for a room she will only use half the time or so.
Not sure if she would want the room tied up the time she is not here but I was thinking I would treat it as taken during the time she was not here... but suggestions?
It would be a second or third bedroom with shared use of the hall bathroom (which is HUGE), kitchen, living area too I would imagine. I am reserving the master bedroom for another person who is considering renting that full time (and happens to be a tutor so that might work into a helpful situation for them both), and I would stuff myself into the last bedroom and share the hall bath with the part time tenant.
Additionally something to consider is that I will be doing work on the house over this year including the kitchen, the new 3rd bedroom, and the hall bathroom.
Again, I am new to renting and this would be my first step into it. Any ideas on how much to charge for something like that? To give an idea of price, I am considering $500-$600 for the master suite plus like $100 to cover partial utilities.
Thanks!
Todd