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General Landlording & Rental Properties

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How to collect rent when house hacking and renting rooms

Marsharen DuPont
Posted Jan 20 2020, 09:51

Hi BP family,

Just a quick question. I'm in the process of searching for a home to house hack and will most likely be in the position of renting out rooms since duplexes/triplexes/quads are hard to find in the area. When househacking and renting out individual rooms, how does one go about collecting rent? Should it be through an online website? Should the money be deposited into a business account? Also, how do leases work in this instance? Looking forward to feedback. 

Thanks!!

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