EARN EXTRA CASH BY RENTING OUT A ROOM IN YOUR HOUSE
Everyone would want that extra cash in their pockets. A majority of homeowners have that spare room or two that they never use. One can find that renting them out is your answer to some of that extra pocket money. Renting out a room on online platforms even social media is becoming increasingly popular. With over 3.5 million listings globally, you have to be better than the next person for your listing to stand out and get those spectacular reviews.
Understanding The Law
A multitude of websites will let you list your room but may not indicate whether you are complying with local laws. One of your responsibilities is knowing the regulations and abiding accordingly. A lot of hosts in New York City were fined just because they did not comply with the set local laws.
When renting out even though it is just a room, make time to have written lease instead of merely a verbal agreement. Most people will remember a vocal arrangement differently, and it will be a tough one to prove in court.
Room Must-Haves To Stand Out
Room Aesthetics can be your deal maker or your deal breaker. Ensure that your room is set up accordingly. Get the right lighting fixtures; you can use lamps that suspend from the ceiling like the vertigo pendant light as they cast off a beautiful light pattern and they look like they’re just floating in the air. Get comfortable looking beds, coffee tables, couch, chair anything that relays comfort but with a designer look.
Also, some tiny knick knacks are also crucial like hand towels, body towels, soap (body/shower and sink/hand), shower mat, toilet paper shampoo, conditioner. All these things are something that a renter would expect to be present in the bathroom. Lastly, you can up your game by adding some electronics like a flat screen tv, a Roku, and a connection to the high-speed internet with wifi password.
Staying In The Business
The online rental marketplace is a two-way street, which means you also screen the people that want to rent your room. There are instances and stories in the news about renters that trashes a rented apartment or room some even go as far as hosting sex parties. The majority of renters do not cause problems, but still, it is best to be on the safe side to avoid any hassle and pending costs. Check on reviews or interview your renter before you approve the rental request.
Reviews are gold right now, as a host, you want your reviews to be spectacular as this is crucial in staying in business. Always ensure that you treat your guests accordingly and when mishaps happen, own up to it and do your best to fix the problem the soonest that you can. Your guests will not expect first-class treatment, but they always take note when they receive excellent service. A simple welcome greeting like some coffee brewing or a platter of fresh fruits is small acts that can earn your listing those fantastic reviews.