Vince & I have been talking about opening up our home and renting out the spare bedroom. I am very reluctant but the money would be nice so I'm seriously considering it. We could rent it out to.....
1. Foreign exchange students (pros - they are usually quiet, especially older students. cons - language & cooking barrier)
2. University students (pros - often here just for a fixed period of time... semester or two. cons - newly out of parents home so may not be responsible)
3. Visiting faculty (pros - responsible, here for a short period of time, sometimes only need to stay for a couple nights/week. cons - can't think of any right now)
The bedroom is basically furnished and the renter would have use of the rest of the house.... I was thinking of asking $500/month. Any thoughts?
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3 comments:
Ok, so I don't know who you should pick, but the last option seems like the best to me. What I do know is that when I went to University I paid $350 a month and that included everything - home phone, internet, furnishings, ect. All I needed to pay for was groceries. But is has been a few years since I did rent. I guess the most I can say is good luck!
As a current renter-outer (the official term, didn't you know?), maybe I can offer a bit of input.
I would say that the price is right only if you're going to supply full room & board (ie. you cook & clean for them). I would think around $400 including utilities and everything (aside from long distance, of course) would be more reasonable. I charge $325 right now, but I'm in a smaller and older home.
As for who, I would think that any of the options you mentioned have potential to work out. I would just be careful to screen the new student type. Perhaps an older student (someone doing Grad studies, perhaps) would be ideal. Just make sure that they know there are dogs & a cat in the house (noise and allergies to be aware of), and it might be worthwhile putting a mini-fridge, hot-plate, toaster oven, etc. downstairs for quick access. Just a thought.
I'm with bbk - an older student could work out well (and would be gone during summer and Christmas so I can visit!). I wouldn't take in a younger student. A few years ago we had friends (a couple w/ no kids) who took in two 18-yr-olds and it was just a horrible experience. The youngsters just had no concept of the couple needing their private time, even outside the bedroom. The situation didn't last. (Mind you, they were in a much smaller house.)
I also like bbk's suggestion to provide them a kitchenette of sorts, although you pretty much need a sink to make that work.
Oh, and set ground rules when the person arrives, along with consequences. Nothing drastic, but lay down expectations in terms of noise, cleanliness, keeping doors locked, storing food, contributing to chores, etc.
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