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General Landlording & Rental Properties

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Cara Simpson
  • Investor
  • Fredericksburg, VA
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Roomate Screanings and Utilies Cost

Cara Simpson
  • Investor
  • Fredericksburg, VA
Posted Feb 11 2016, 08:06

Hello! My name is Cara I am new to Bigger Pockets. I have just recently purchased my first two properties. One I just finished remodeling and will be living in and the other I am just starting to remodel to turn into a rental property. 

I plan on renting out one or two of the spare bedrooms in my house to provide a little extra income and to have someone else pay for the mortgage. Do you suggest using the exact same "rental screenings" that I have seen on this site for to use as a "roommate" application? Also how would you suggest splitting up the utilities? I was planning on having them included in the rental price, but I am worried about over usage. Is it safer to have them split utility costs so that they have a reason to be energy conscious? My worry is trying to get that "extra" money every month. Or should I just increase the rental cost to allow for a buffer for utilities?

I am new to this so any suggestions or advise would be appreciated!

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