Renting out by the Room for an Upper floor

[Millions]

Hey everyone,

I am currently living in my suited house in Cambrian heights. I rent out my legal basement suite and I have 2 roomies on the main floor.

I am considering moving out and since one roomie wants to stay, I am considering renting out by the room to make more money ($500 plus utils per room)

Has anyone done this? What type of lease to use? How to go about damages if any are caused? who pays? Who does shoveling the snow/grass cutting, etc?

Thanks !

 

[housingrental]

Best route, if possible, is to go with group lease and rent to a group of friends to take all rooms.
Parent guarantor`s are frequently used for student renters - and often for room renters when younger.
Be cautious about the junkie`s that will be looking for single rooms.
If you have to structure on single room try to spell out lifestyle arrangements in house on lease.
I`m not familiar with Alberta so you might be limited in what responsibilities you can contract out of there.

 

[dcres]

QUOTE (Millions @ Jan 27 2010, 12:51 PM) Hey everyone,

I am currently living in my suited house in Cambrian heights. I rent out my legal basement suite and I have 2 roomies on the main floor.

I am considering moving out and since one roomie wants to stay, I am considering renting out by the room to make more money ($500 plus utils per room)

Has anyone done this? What type of lease to use? How to go about damages if any are caused? who pays? Who does shoveling the snow/grass cutting, etc?

Thanks !

I`ve been renting by the room or "Rooming House" for the last 5+ years. I use a month/month lease. Security Deposit is equal to the the room rent. I shovel the walk & cut the grass, I also have continuous access to the house, but must put in writing 24 hours for all tenants before I come back to the property each day, as indicated by the law. You can make more money renting rooms, but it is a hands on operation & takes up alot of my time. You need to setup house rules before you get a crowd in place & be prepared to enforce them for less conflict later. It also helps if you live close by.

Dennis
Affordable Rentals
Calgary, Ab.