Rent a Room in Your House:  Follow These 5 Steps for Maximum Protection

Invesco Real Estate, one of the world’s largest property investors, gave Mynd $5 billion to buy 20,000 homes in the United States (in 2021) within three years on behalf of pension funds. Invesco is not the only large corporation to dip its toes in the single-family home (SFH) rental market.

In March 2021, Allianz Real Estate and private equity group Centerbridge invested $1.25 billion in Upward America Venture, a partnership with homebuilder Lennar Corporation to acquire over $4 billion of new single-family homes for rent in the United States.

Having a rental property is very different from renting a room out in your house. When you rent out a room, you will be sharing space with this person. Conversely, you do not live with your tenant when you have a rental property.

Renting a Room vs. Renting Out a House

Make sure to look at different room listing sites to understand your rental market. Sites like Spareroom.com, Facebook Marketplace, and Craiglist all offer the ability to search within a specific zip code.

Step 1: Price Your Room Competitively

The easiest way to have your notifications light up after posting your ad is by being vague. A roommate ad should support your desire to find the perfect roommate and spell out the specific characteristics and attractive traits you want in a roommate.

Step 2: Be Specific in Your Room Advertisement

Once the ad is active, people will begin calling you. Prepare several questions to ask them to get a sense of who they are and if they would be a good fit for you. 

Step 3: Ask the Right Screening Questions

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