{"id":11729,"date":"2023-12-28T20:31:17","date_gmt":"2023-12-29T03:31:17","guid":{"rendered":"https:\/\/blog2.neighbor.com\/storage-blog\/?p=11729"},"modified":"2024-01-29T15:01:22","modified_gmt":"2024-01-29T22:01:22","slug":"renting-out-a-room-in-your-house","status":"publish","type":"post","link":"https:\/\/www.neighbor.com\/storage-blog\/renting-out-a-room-in-your-house\/","title":{"rendered":"Renting Out a Room In Your House: How to Do It?"},"content":{"rendered":"\n

If your exercise bike has found its way to the guest room, it might be time to revamp the space. Although extra bedrooms and guest rooms often start as tidy, well-decorated rooms, they quickly become magnets for clutter and oversized furniture. <\/p>\n\n\n\n

Luckily, your spare bedroom could be more than just extra storage space. By listing your extra bedroom as a rental property, you maximize your real estate property<\/a> and earn a little side money<\/a>. <\/p>\n\n\n\n

Rental properties also make for <\/strong>a great investment<\/strong><\/a>, and the extra money could be used to help pay off a mortgage<\/a> and subsidize the cost of the property<\/a>. (Yes, you heard that right. Your spare room could<\/strong> be earning you hundreds–even thousands–of dollars a month). <\/em><\/p>\n\n\n\n

Renting out a room also breathes new life into an unused space. From drab to fab, dismal to dazzling, your spare room can be so much more. <\/em><\/p>\n\n\n\n

Without further ado, here’s everything you need to know if you’re thinking of renting out a room in your house. (And for those who aren’t sure renting is right for you, there are other ways to monetize your unused space. Just keep reading). <\/em><\/p>\n\n\n\n

Is Renting a Room Legal?<\/h2>\n\n\n\n

Before you start looking for tenants, you’ll have to ensure that you’re legally allowed to rent out a room in your home. Start by looking up your state’s landlord-tenant laws and look out for any zoning restrictions or local laws that apply to your home. <\/p>\n\n\n\n

Although it is highly unlikely that any local laws will prevent you from renting out a room, here are some scenarios in which it might be deemed illegal:<\/p>\n\n\n\n