Should I rent my House or Rent my Rooms?

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rent the whole house to a family. I think if its a 5 bedroom home you could easily rent it for 3000 a month to cover all expenses. If u rent the rooms seperately there will be a LOT of traffic comign through your house of other tenants guests, etc. It will create a problem. I have never heard of anyone renting a room and having it work out to be a positive things. Whomever you decide to rent to do it the legit way. Interview them first to see if you think it will mesh well. Ask for first months rent and 1months security. Ask for employment history (call to verify employment as well), run credit ( to ensure there is no prior rental evictions). Ask for reference letter from past landlord and follow up to see if they had any problems and if they paid in a timely manner.Have a 1 year lease prepared outlining when their rent is due (1st of the month) and if they have any grace period (usually 5 days) Ater that day what you would charge as late fees, if any. Stipulate in the lease what utilities the tenant is reponsible for water, gas, eletric, etc. Also if you would allow them to break the lease by any means how many days notice they would have to give in writing (usually 30) usually. (although i would not sugest usuing this as clause only if u feel that u want to). good luck, rent the whole house so u dont have any problems with multiple tenants coming in and out.