Make Money With Room Rentals

I don't know why I didn't do it sooner, but one day many years ago, I decided to try renting rooms in my home. I was young and single, and had a nice mobile home on small piece of property. I found that it was easy to rent out the other two bedrooms. Suddenly, I had thousands of dollars extra each year.

Why Room Rentals?

In many towns where the rents are high, single people are forced to share apartments with others. They inevitably have problems with splitting the bills, what to do if one person is late with their share of the rent, who made which phone calls, etc. So when they see a room for in a nice home, with everything from local cals to cable TV included in the rent, they like the idea.

Room Rentals - The How To

Include everything. Don't set yourself up for arguments about who owes what for utilities, or who watches the cable TV more. Cancel long distance plans, get a phone card, and just have local service. If utilities run high, raise the rent. Just don't be tempted into any "share" arrangements for anything.

The value in this simple way is obvious. While others fought with landlords and roommate-friends, my renters stayed for years, with no household bills to pay, and no money issues for us to argue about. I had them pay weekly or bi-weekly, according to their paydays, so they wouldn't have to save up for monthly rent.

Regulations in some places prevent renting rooms, but they are rarely enforced, and are being legaly challenged more and more. It is difficult to justify a system that allows a family with ten kids to live in a house, while discriminating against a household of three or four people - just because they are unrelated.

Room Rental Profits

I no longer live in Traverse City, Michigan, but in a decent house there, you can get $100 per week for a room. With two rooms to rent out, that's $10,400 per year. Most of that is profit, since household bills don't go up much with two more people in the house. If you don't mind the company, that's a lot of extra cash.

Steve Gillman has invested in mobile homes and other real estate for years. To learn more, and to see a photo of a beautiful house (not a mobile) he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

MORE RESOURCES:

Fidelity sheds portion of real estate investment group - Bizjournals.com

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/0-0fd=Rurl=http://www.bizjournals.com/boston/stories/2008/10/13/story30.htmlcid=1257256510ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNEFtyDBHpjwBxrwmJxS0UThImproQFidelity sheds portion of breal estate/b investment group/abrfont size=-1font color=#6f6f6fBizjournals.com,nbsp;NCnbsp;-/font nobr1 hour ago/nobr/fontbrfont size=-1Pyramis Global Advisors, a division of Fidelity Investments, is spinning out the private equity arm of its breal estate/b group. A Fidelity spokesman declined b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/0-1fd=Rurl=http://www.msnbc.msn.com/id/27158239/cid=1257256510ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNEXRjI4oyMSLw8BmEabNGBFRZLUzQDepartment of Justice developer not able to get financing/a font size=-1 color=#6f6f6fnobrMSNBC/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1257256510hl=ennobrall 325 news articles/nobr/a/font/div/font/td/tr/table

Falcon Announces Best-in-Class Green Real Estate Project - MarketWatch

Grand Rapids hosting UM real estate forum; showing off development - WZZM

The Short Sale Formula Launched to Help Real Estate Investors ... - PR Web (press release)

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/3i-0fd=Rurl=http://www.prweb.com/releases/outsourceshortsales/shortsaleformula/prweb1431994.htmcid=1257188797ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNGTbj_DReMLSBqyMfN_LPQmmHkBFQimg src=http://news.google.com/news?imgefp=E5fG3VEd68MJimgurl=www.prweb.com/prfiles/2008/10/06/219405/gI_SSFHeader.PNG.jpg width=80 height=32 alt= border=1brfont size=-2PR Web (press release)/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/3-0fd=Rurl=http://www.prweb.com/releases/outsourceshortsales/shortsaleformula/prweb1431994.htmcid=1257188797ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNGTbj_DReMLSBqyMfN_LPQmmHkBFQThe Short Sale Formula Launched to Help bReal Estate/b Investors b.../b/abrfont size=-1font color=#6f6f6fPR Web (press release),nbsp;WAnbsp;-/font nobr6 hours ago/nobr/fontbrfont size=-1The Short Sale Formula will be released to the breal estate/b investing community to provide a step-by-stop formula on how to put together a short sale packet, b.../b/font/div/font/td/tr/table

Bahrain real-estate market ‘faces record year’, says expert ... - Al-Bawaba

Real estate bust: Toledo wins at Big House - San Francisco Chronicle

Now Is The Time To Invest In Commercial Real Estate - PR Web (press release)

Real Estate Investors meet Tuesday - Prescott Daily Courier

Great Food, Good Drinks and Luxury Real Estate on Main Street - Eastside Business Journal

Hypo Real Estate#39;s Viermetz Steps Down After Bailout (Update1) - Bloomberg

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/9i-0fd=Rurl=http://www.topnews.in/hypo-real-estate-tussle-german-government-274283cid=1256598407ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNHlv_BTy7S6bPJH-AtbNyyxcNkxcQimg src=http://news.google.com/news?imgefp=sLzMPKSSKvoJimgurl=www.topnews.in/files/Hypo-Real-Estate_1.jpg width=80 height=78 alt= border=1brfont size=-2TopNews/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601100%26sid%3DaqkEy1ZoxSwY%26refer%3Dgermanycid=1256598407ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNG800JyK3fsMQmMuY4kRLJ2919ynwHypo bReal Estate#39;s/b Viermetz Steps Down After Bailout (Update1)/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobrOct 10, 2008/nobr/fontbrfont size=-1By Nandini Sukumar and Oliver Suess Oct. 10 (Bloomberg) -- Kurt Viermetz quit as supervisory board chairman of Hypo bReal Estate/b Holding AG, five days after b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-1fd=Rurl=http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL813731320081008cid=1256598407ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNFgF9FlwD4ernu3cUGsZl9n0Kwy9wUPDATE 1-Hypo bReal Estate/b gets access to credit line/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-2fd=Rurl=http://news.xinhuanet.com/english/2008-10/08/content_10162155.htmcid=1256598407ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNElpj2ukahNyBFvJdxtoqG9C0F9CwHypo bReal Estate/b changes its CEO/a font size=-1 color=#6f6f6fnobrXinhua/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-3fd=Rurl=http://www.monstersandcritics.com/news/business/news/article_1436206.php/Hypo_Real_Estate_chairman_resigns_after_bail-out_cid=1256598407ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNF_X_77zjfbnYMQ2xRi9EOrAomocwHypo bReal Estate/b chairman resigns after bail-out/a font size=-1 color=#6f6f6fnobrMonsters and Critics.com/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/9-4fd=Rurl=http://www.iht.com/articles/ap/2008/10/07/business/EU-Germany-Hypo-Real-Estate.phpcid=1256598407ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNG89lGFE6HMHUqzKqk7EKrtBtzFiQnobrInternational Herald Tribune/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/9-5fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601087%26sid%3DawNS2jf5LLJA%26refer%3Dhomecid=1256598407ei=L03zSI2HCIu-9gTN_v13usg=AFQjCNGrLkmrICyZTVCs_DYPPcW7RxeqmwnobrBloomberg/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256598407hl=ennobrall 97 news articles/nobr/a/font/div/font/td/tr/table

Real-Estate - Google News

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