Renting Out A Spare Room To Make Some Extra Income

Renting Out A Spare Room To Make Some Extra Income

Advertise a spare room effectively and you can make more income each month, which is something a lot of people need at the moment! Who wouldn’t want to benefit from extra money in the bank and more financial security? To achieve this, you will need to make your room advert to stand out from the rest, and we have some tips to help you do so.

Take the time to put your room listing together when you are looking to advertise room for rent. You need a description that is concise but includes all of the important details. Use the title effectively – don’t simply put “Double Bedroom In House,” instead put something like “Spacious Double Bedroom in a Great Location.” You need to make your title appealing if it is to stand out from the other adverts in the area. 

Aside from this, make sure the advert has a logical order, for example, you should begin with the family and entertainment areas, and the kitchen, then follow with the bedrooms and bathrooms, and finally, mention the outdoor area. 

Also, if you want to rent a room out, be clear about pets, list important features, from fences to security alarms, and list any positives about the location, for example, if it is close to public transport and schools. Don’t use long sentences and paragraphs; instead bullet points are better. 

Getting your photographs right is so important; make sure the lighting is correct and there is no clutter. You can use your smartphone with an accessory like the DJI OM4 to take effective photos and videos. A few finishing touches can go a long way, such as a fresh coat of paint. 

When Should You Start Marketing Your Room?

Advertise a room to rent online too late, and you will end up compromising on the type of tenant you go for, which could be a disaster later down the line. Nevertheless, you also don’t want to advertise too early, as no one will be interested in the room you have available. So, when is the right time?

It is a good idea to advertise room for rent at least one month before your current tenants are leaving. This should give you more than enough time to find the perfect person for the room. All you need to do is add the date that the property is available on your advert and this will make sure that people will only apply if the dates suit them. If you are going to be showing people around a room that is already occupied, you will need to communicate with your current tenants. You will need to give them a bit of notice. This may already be pre-determined in your contract. It is to your benefit to give them as much notice as possible, as it means they will be able to tidy their room and ensure it is in a presentable condition. As you soon as you post an advert to try and appeal to those looking to rent a room, you need to check the listing each day and manage your messages effectively, otherwise you could miss out on some great opportunities. People don’t like to wait around when it comes to something as important as sorting out their accommodation. 

Where To Advertise Your Room To Rent

It is not a case of advertising your room on as many pages as possible; it is a case of finding the best website to post your listing on. Read on to find out what you should be looking for. 

Firstly, make sure the website is not expensive to use. There is no need to spend a fortune in order to advertise room for rent. In fact, there are some websites that enable you post adverts free of charge. 

Aside from this, choose a website that does not have advert upgrades or promoted listings. This means that you are going to have to spend a considerable amount of money in order to get to the top of the listings. You won’t get a fair shot, and so you will struggle to find someone to rent a room out. Instead, select a website that will list the results based on how closely they match the person’s search. 

You should also be able to create a listing quickly and easily, and it should be posted on the website as soon as you hit submit. You don’t want to be waiting around for days and even weeks for your listing to be viewable. 

You should also be able to deal with the tenants yourself; you should not need to go through the website for communication. This will only segment the process and make it a lot more difficult to manage.

Be Aware Of Hidden Expenses

A lot of letting websites that offer a free service often have hidden expenses, meaning that while it appears to be free, it is not the case. Below, we reveal some of the common hidden expenses you should be aware of when you advertise room for rent. 

One of the most common hidden expenses that you need to look out for when a website advertises that you can rent a room out for free is promoted adverts. There are a lot of websites that may allow you to post a room advert for free, but they will charge you to feature anywhere near the top of the search results. This means that you are going to have to part with a fair amount of money if you are going to have any chance of getting any real exposure on the website. Instead, you need to find a website whereby there are no promoted ads and search results are listed based on how closely they link to what the person has searched. 

Another hidden expense you need to look out for is when some websites give you the ability to post a basic listing for free. But, if you want to add photographs, or more than one image, you need to pay extra. There are some websites that may even charge you to speak to an interested prospective tenant. 

How To Interview A Potential Roommate 

When you have a short timescale to contend with, it can be tempting to rush into the process and accept the first person that shows interest. However, it is important to ask key questions to ensure your new roommate is the perfect fit. 

We are going to reveal some of the vital questions you should ask when interviewing a potential roommate. Of course, you can make adjustments to suit your situation. Have you shared a place with someone before and, if so, how was the experience? If the person has rented out a room at someone’s house or flat before, you should ask him or her what their worst experience was. This will give you a good idea on what they expect from a roommate and how you are going to find it living together.

Do you have any habits or special house rules I should know about? Do you consider food to be community property? This is an important question. Nothing will ruin the harmony more than one person eating another’s food; either agree to share, or agree to not. What are your expectations regarding cleaning? What hours do you keep? This is vital; you want to know if the person is going to be practising an instrument late in the night, for example. How often do you like to have friends over? Do you have a significant other and, if so, will they be visiting frequently? 



Author: The FINANCIAL