Renting Rockford Home (While still living there)? (renters, how much)

[Richard K]

I was about to set up an "Ad" for 2 roomates needed for my home in Rockford, MI (20 Minutes from Downtown GR) recently had both my 2 brothers and friend move out after they became married. I have a very busy schedule and until I find a good wife to share the home with, I feel the home (4 Bed 2 Bath) is not being used to its potential. Within walking distance of downtown Rockford, I would like share (rent) this home with a family with myself as an "extra" I have a great job and would treat the renters as family. Is this idea a crazy or smart one? Please tell me of the advantages and risks involved with this set-up. How much should I charge? I have heard of families having a extra "renter" living with them, or duplexes with the owners living next door. Share your thoughts. This home is withen walking distance of downtown Rockford. I hear so much about those being forced out of homes from forclosure. I would be willing to work with a family in crises. Thanks.

[mich2fla]

My father in law stays with us during the week (Monday night till Friday morning)...we let him use a room in the basement after the gas prices shot up. He commutes 80 miles one way so the arrangement works out. He eats dinner with us, plays with the kids, then goes to the basement to work on his laptop, watch tv, etc. Occassionally he would babysit the kids so me and my wife would head out for some quality time. We don't charge him much, just $50/week.

Will you have a formal lease with the roommates? Have you checked with your church to see if someone needs help?

Good luck!