Having a rental property is very different from renting a room out in your house. When you rent out a room, you will be sharing space with this person. Conversely, you do not live with your tenant when you have a rental property.
Step 1: Price Your Room Competitively Step 2: Be Specific in Your Room Advertisement Step 3: Ask the Right Screening Questions
If you rented out a room for $500 per month, you would need the $500 (first month’s rent) plus $500 (security deposit) for a total of $1,000.
You need to know how they will afford to pay the rent each month. The best question to ask is whether they have worked at the same place for over six months.
You will find out quickly if this person read your advertisement or not. If they seem clueless about the room ad, it means they probably scrolled straight to the bottom and called you.