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Renting personal space in home

No matter what you decide renting your personal home as a whole or just rooms, or what season you rent it out. There are things to think of when deciding a preparing your house to be a rental.

First – You are renting out your home

This is your home and you have things that you would be devastated to lose. The reality is things get broken, unauthorized dogs chew tables, etc. If you are going to be devasted if anything happens to something, you need to either remove it or not rent. I personally designate a garage or closet. I also have no furniture that I would be devasted if it was ruined, and a house is just a house.

Second – High Liability Items

I would never leave guns, weapons, animals or anything on the property that they could get themselves hurt or others. I have seen listing where people talk about leaving cats there and the tenants being responsible for their care. Too me that is not only dangerous for your animal (who is my child), it is way too much of a liability in a sue happy world.

Third – Home Owners Insurance

You need to check your owners’ insurance. As every insurance has different coverage requirement an allowance. Many homeowner insurances are requiring you to get additional coverage or might not even cover you if you rent you house out short term. While Airbnb does offer limited coverage, it is not something you want to count on.

Fourth Local Regulations

Many areas have VERY strict rules and some completely ban this practice. So make sure that you are completely following local ordinances and it is allowed. Also keep in mind that semantics are going to be key.

Lastly – Murphy

Over the years I have always heard to the house that has been trashed. Something always goes wrong and there will be that tenant. So, know when you are going into this that you will issues, things will gone wrong and your house might get destroyed. So be ready for the UP and the down moments!

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Paul Campbell
Paul Campbell

What if a lessee wants to bring a parent in as a occupant not on the lease, and wants it on paper? IS THERE A PROBLEM WITH THAT.?