Renting out my room in my house

5 Replies

So this is the first time Ive considered renting out a room to someone from the internet.

Long story short this lady hit me up days ago asking about my place. She told me shes looking for a friend whos a truck driver. Hes been truck driving for 22 years. She said hes going through a divorce and needs a room. We set up a time to meet which was a few days later.

I met him earlier today. He was coming to look at the smaller room but it turned out to be too strong. He ended up taking the master bedroom. He says hell never be home besides a few nights a week. 

I had him ran through the zillow background, credit, and eviction record. He was good on everything except credit which he told me hes going through a chapter 7 bankruptcy. He gave me money for the remainder of the month and said hell pay me the deposit and first months rent on sunday. He leaves on monday and wont move in until the 9th.  He hasn't signed the lease yet so theres nothing legal binding. I told him we can sign it once I get the first two months which he was ok with that.

What are your guys thoughts? Good to go or what? 

Updated over 2 years ago

When I said too strong I meant too small for the room size. Just caught that typo

@Account Closed My only suggestion is to get a deposit and go month to month. Yes, sign a lease, but make it month to month so either of you can terminate if things don’t work out. Personally. My sons have roommates, friends, but they still have a month to month lease and it states no guns, no illegal drugs and 3 strikes out on alcohol/drama problems. Also, if he pays rent in cash, be sure to give him a receipt, it may be the law. In Texas he must have a smoke detector in his bedroom, too. Good luck, sounds like a win-win.
Originally posted by @Marian Smith :
@Garth Mackendel My only suggestion is to get a deposit and go month to month. Yes, sign a lease, but make it month to month so either of you can terminate if things don’t work out. Personally. My sons have roommates, friends, but they still have a month to month lease and it states no guns, no illegal drugs and 3 strikes out on alcohol/drama problems. Also, if he pays rent in cash, be sure to give him a receipt, it may be the law. In Texas he must have a smoke detector in his bedroom, too. Good luck, sounds like a win-win.

I was having him do a 6 month lease and then month to month after. Should I not?

Originally posted by @Marian Smith :
@Garth Mackendel My only suggestion is to get a deposit and go month to month. Yes, sign a lease, but make it month to month so either of you can terminate if things don’t work out. Personally. My sons have roommates, friends, but they still have a month to month lease and it states no guns, no illegal drugs and 3 strikes out on alcohol/drama problems. Also, if he pays rent in cash, be sure to give him a receipt, it may be the law. In Texas he must have a smoke detector in his bedroom, too. Good luck, sounds like a win-win. 

he smokes cigs. is it ok to allow him to do so on the outdoor patio? He said he would walk across the street if it was a problem. Obviously never inside which he knows. Hes a 50 year old guy.

Your property, do as you choose.  I allow smoking outside on my rentals.  The six month lease benefits both of you equally as you want to rent the room and he isnt home much so sees better value in sharing for less money...both of you are set for a while.  You both benefit from a month to month so either of you can leave/request that he leave at will if for some reason it doesn’t work out.  Realistically,  you are at a disadvantage with the 6 month as you have contractually agreed to let him stay there if he pays for 6 months.  But he can split at any time and lose his deposit and you can go to small claims court and get a judgement and never find him or get the money.  It will likely work out fine, though.  A cordial business agreement...win-win.  You discussed pets?  I do not allow them and charge $500 for unauthorized pets. 

Originally posted by @Marian Smith :

Your property, do as you choose.  I allow smoking outside on my rentals.  The six month lease benefits both of you equally as you want to rent the room and he isnt home much so sees better value in sharing for less money...both of you are set for a while.  You both benefit from a month to month so either of you can leave/request that he leave at will if for some reason it doesn’t work out.  Realistically,  you are at a disadvantage with the 6 month as you have contractually agreed to let him stay there if he pays for 6 months.  But he can split at any time and lose his deposit and you can go to small claims court and get a judgement and never find him or get the money.  It will likely work out fine, though.  A cordial business agreement...win-win.  You discussed pets?  I do not allow them and charge $500 for unauthorized pets. 

 I think ill do a month to month+ it benefits him to stay. I think he may be a long term tenant. He even said hell live in my two story shed if I remolded it. This is exciting though because im about to interview someone else and if that works out ill be living for free and cash flowing. If I can get that shed remodeled eventually id cash flow an extra 600-1k. Totally scored on my first investment