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My two cents worth: You'd have to be nuts to rent out a room in your house to anyone under any circumstances, much less the circumstances you describe.
My prediction: The arrangement will blow up in your face and you'll be worse off than you are now.
Honestly, I might look at getting another formal part-time job. Not something I particulary want to do, but it will help me put some financial cushion back under me. I really don't have a choice as far as I can see--I either rent out the room or try to drum up more work on the side.
Honestly, I might look at getting another formal part-time job. Not something I particulary want to do, but it will help me put some financial cushion back under me. I really don't have a choice as far as I can see--I either rent out the room or try to drum up more work on the side.
Go for the job. It’s easier for you to get a new job than it is for you to evict a crappy tenant.
I'm confused. At one point you say you have a spare bedroom, and at another point you say this place only has one bedroom and you'll have to share. So do you have two bedrooms so you could each have your own private bedroom? Is the spare bedroom actually a bedroom you just haven't been using as such?
As stated, screen very thoroughly (background and credit), be very strict about who you bring in, do month-to-month. Even with month-to-month, it will take time (usually at least a couple months) to get someone out if they're really a problem. Have a roommate agreement in addition to the lease (or at least include it in the lease) so it's clear what's allowed, what's not, food, dishes, smoking, pets, visitors, storing things, parking, etc.
I'm confused. At one point you say you have a spare bedroom, and at another point you say this place only has one bedroom and you'll have to share. So do you have two bedrooms so you could each have your own private bedroom? Is the spare bedroom actually a bedroom you just haven't been using as such?
As stated, screen very thoroughly (background and credit), be very strict about who you bring in, do month-to-month. Even with month-to-month, it will take time (usually at least a couple months) to get someone out if they're really a problem. Have a roommate agreement in addition to the lease (or at least include it in the lease) so it's clear what's allowed, what's not, food, dishes, smoking, pets, visitors, storing things, parking, etc.
Are you close enough to a med school or hospital that has interns/med students to make this a realistic option? They will want a short commute. If so, you also need to understand when the school terms start/finish and adjust your expectations accordingly.
Try hosting through AirBNB for a while and see if you like somebody living in your home and if you can adjust well. If things go well, then you can rent the room out on long term basis. Sometimes you may end up earning more through short term renting by Airbnb than having a tenant of your own. Plus you will have your own days when you have the whole apartment to yourself.
Try hosting through AirBNB for a while and see if you like somebody living in your home and if you can adjust well. If things go well, then you can rent the room out on long term basis. Sometimes you may end up earning more through short term renting by Airbnb than having a tenant of your own. Plus you will have your own days when you have the whole apartment to yourself.
This is a good idea. Especially if there's room for a dorm refrigerator and a hotplate.
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