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Cheap mortgages have pushed corporations to invest in rental properties. As such, more people will need housing as renters.

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If you own a home and want extra money, here are 5 steps to rent a room.

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1. Price your room competitively

[{"selector":"#anim-df3f9e87-c743-4976-86ce-161f7bf3d31f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.27343738636794%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Before listing your room for rent do your homework. Research how much money you can charge for rent. Learn more

2. Be specific in your room advertisement

[{"selector":"#anim-74763206-10f1-41ac-8bb6-d1892bdc17d8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.27343738636794%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] A roommate should support your needs. Spell out the specific characteristics and traits that you want in a roommate. Learn more

3. Ask the right screening questions

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4. Have a solid rental agreement

[{"selector":"#anim-2d4efc32-b567-4d67-9a5b-d96b8eb4dcf8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.27343738636794%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] You need to put everything in writing. Written agreements are real and tangible. Learn more

5. Treat this as a business venture

[{"selector":"#anim-7d31bb7e-434c-45f2-a6a4-336631f3d534 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.27343738636794%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Treat your rental agreement with respect and hold the tenant to it. Don't compromise. You deserve respect. Learn more

Tap the link below for more on how to rent a room in your house.

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