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Would You Rent Out Your Own Home?

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When you are looking for another source of income you might consider renting out part or all of your home. Perhaps your house would be a great place for somebody to stay while they are on vacation? It may help raise cash for when you want to take a vacation yourself. You could simply swap homes with another family looking to save a few dollars on a great vacation. Another alternative is to rent your property out while you are away. So what do you need to do?

Renting out your own home may feel like a big risk. And it can also feel like a lot of work to get a family home up to the standard expected by vacationers. Consider the type of people that may be interested in renting your home short term. Do you live near a big corporation looking for occasional corporate accommodation? Or maybe you live near a big tourist attraction? Perhaps a big event is happening in your area that will attract a lot of visitors to the town?

When you have an idea about the kind of people that may like to stay in your house, you can decorate it to be appealing to them. Start with the flooring. Carpets can be easily stained and damaged, so consider hardwood flooring instead. A more neutral color on the walls may be more appropriate than lots of art and vibrant accents. Catering to many tastes can be a challenge sometimes!

The house needs to be quite functional too. Each room should be dressed for purpose. Bedrooms should contain beds, and the dining room should have a table and chairs. There may be some local regulations about the certification and standards of any furniture you rent out with the property. Be sure you are well versed in these requirements and that you can meet them.

 

Your own possessions are private. There shouldn’t be any access to them. Perhaps you can keep your most precious items locked in the attic or basement. It may be best to rent a lock-up storage unit to be sure none of your favorite items get lost or damaged while you are away. If you have children, this can be a lot of extra effort and work. Kids often have a lot of things, and it can feel a bit uncomfortable knowing strangers may be using them.

When you rent out your home, it can be nice to leave behind a welcome basket of fruits or flowers. Some local information like maps and attractions can be very helpful too. If you are hiring a professional cleaner to take care of the place in your absence, be sure to leave their contact details. Let your trusted neighbors know what’s going on. Give them your contact details in case of emergency.

Renting out your own home could be a good way to raise the money to pay for your own vacation. But it can be uncomfortable knowing strangers are in your house! Consider your options and vet your clients carefully.

 

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