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Old 07-13-2007, 09:11 PM
 
1 posts, read 11,004 times
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I am thinking abourt renting a room from my home in the Lacey area. I was thinking about an exchange student or a professional person. I need to know what rules, agreements I would need to have in place. I do have a dog but I do not want another pet in the house. How much should a person charge? Is this a good idea?
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Old 07-13-2007, 09:31 PM
 
Location: Debary, Florida
2,267 posts, read 3,298,887 times
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I would speak to an attorney, make sure your signed agreement with the person you rent to includes anything the lawyer recommends. Of course once you have the format, you can use the same format over and over again.
These things can vary from state to state but making a mistake could be costly for you in the end. OR leaving something out as well.

I have a three bedroom home and I had thought about renting a room out but I am affraid of problems.

Watch Judge Judy a couple times, it might make you nervous to rent out a room.
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Old 07-13-2007, 09:39 PM
 
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Also, frequently people assume that having an exchange student stay with them will be relatively trouble free. Not always the case. I had a neighbor once who had a bad experience with one ...liquor and money disappearing, drugs in the house, and getting in trouble with the police. Almost like having your own delinquent teenager, eh?

Maybe putting an ad in your church's classifieds for a professional single?
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Old 07-14-2007, 12:35 AM
 
1,569 posts, read 3,402,753 times
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Quote:
Originally Posted by galfromlacey View Post
I am thinking abourt renting a room from my home in the Lacey area. I was thinking about an exchange student or a professional person. I need to know what rules, agreements I would need to have in place. I do have a dog but I do not want another pet in the house. How much should a person charge? Is this a good idea?
Check out craiglist for our area for rates (usually $350 and up) and what other people require. With the colleges in town, you might get college students. If you want a professional or an older student, state that. Figure out what rules you want and make it clear up front--pet tolerant, no more pets allowed, quiet environment, no drugs, etc. I have a friend that rents a room out but he's a guy. He's had mixed success with it but he didn't require much. Before I found the place I am in, I looked at two places that were renting rooms but fortunately found this place where I can live alone for the same price as living with four college age girls with boyfriends.

If I were going to do it, I'd meet them somewhere first to talk to them over coffee before telling them where I live. Also tell people you know about it--they might know someone who wants to rent a room. That seems the safest.

Why don't you post this on Other Topics--you might get more responses from people who have done it.
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Old 07-14-2007, 01:07 AM
 
5,595 posts, read 19,050,998 times
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Just a few points of caution --Dancingearth has made an excellent suggestion to check Craigslist for rates but be particularly careful because they also have a lot of questionable inquiries posted there too. I use Craigslist a lot but you have to be cautious if you decide to use their listings to find a tenant.

And if you do post in Other Topics, be sure to reword your inquiry a bit so it won't get deleted for cross-posting. You could ask specifically if it would be a good idea to take on renting a room to a stranger for example.

Good luck.
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Old 07-21-2007, 06:33 PM
 
18 posts, read 52,803 times
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Default Do your homework

I have rented rooms out for about 5 years now and though there are some gems out there about 70% of my renters were not. In fact, I have just sold that house to get one that I dont feel I have to rent out rooms.

I've had to process 2 evictions (get a real attorney not one of those cheap---'can do it in 30 days' kind of attorneys). There is a Washington landlord association that you can google to get their name. Join it.

1. In the rental agreement, specify rent/deposit-including what happens to the deposit once they move/pets/their part in the utilities......anything financial.
2. As an attachment to the contract which you will have them sign and initial each addendum item- specify rules of the house including noise, curfew if any, cleaning, thermostat in the winter (this is a huge deal and you need to set a temp and stay there), sharing of food/supplies, anything you can think of. The more detailed the better.
3. DO A BACKGROUND AND CREDIT CHECK - I rented to a drug dealer who 'looked' like a great, hard worker. Yikes.

Most important, talk to an expert on how to protect yourself. It can take more then 3 months and hundreds of dollars (not including lost rent) before you get a person out of your house. It is illegal to lock someone out who is a renter by the way.

When I had good experiences, it was great. Nice to have company and share expenses! But when it was bad, it was very, very bad.

JP
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