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Thinking about renting out 3 of my extra...
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Thinking about renting out 3 of my extra rooms. Any guides for people interested in this kind of business?
Yeah, don't use airbnb.

Are you talking part time or extended rentals like for half a year or more?

If you're in a good centrally located area it'll be easy to rent out rooms to single guys.

Research local print ads and internet sources for going rates of similar rooms and post an ad.

The best people by far in my experience to rent to are young blue collar professionals, i.e. electricians, construction, etc. After that is white collar professionals (not including programmers) but they're fewer and farther between.

The blue collar pros work long hours, get paid well, and are usually seasonal renters, 9-10months as projects in the area come and go. Many of them will move area to area or city to city for projects as the company assigns, or they drift to.

They always pay their rent on time and create very little fuss on account of wanting a good reference when they do move on, and wanting an easy place to move back into when their job brings them back.

They're gone by 6 in the morning, and come back around 6pm, eat and are back in bed by 10.

Added bennefit:something breaks in the house they're usually more than willing to help fix.

Ive been renting out rooms for 15 years now in my 7 bedroom house. I won't rent to anyone else.
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these two guys will rent it no worries!
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story here:

and another incident:
If you like your own space, even in the slightest, don't unless they are totally separate apartments. Never rent to students unless you budget for a total rebuild every time and the quality of your amenities reflect it (I.e. Prison grade gray steel chairs bolted to the floor with security break off heads). Never tourists if it is in your own house, they like to bring in the scum of the town and have them all up in your place to listen to their sob story and feed them so they get used to your shit, know who you are, where you eat and where you shit. They will fuck you up.

If starting up as a business or primary income you will feel the need to grab anything. But you need to be selective. Even if you have no one lined up you always need to have an out to explain to someone why even though they came to check the place out why they can't stay there.
I rented a lofted garage to an excellent carpenter, I charged him slightly more than utilities and such and in exchange he finished the loft, the garage, built a shed and did a few other things. It worked out really well for both of us, he moved across the country a while ago but we still keep in touch.

So I second this, blue collar ftw
I'm talking about part time rentals. Preferably to students or young professionals.

I'm considering air bnb because a friend of mine who is a landlord told me that air bnb is more profitable than regular subletting (although its a bigger pain in the ass to manage).
I live in a college town. In my condo complex about half the units are rented to students. They are noisy, inconsiderate and often have the police over for a visit. Twice a year, every year, like clockwork, comes the carpet cleaners and construction guys.

One unit was for sale and I was thought about maybe buying it so I met the real estate agent at the unit. Students still living there. WTF? Holes in the walls, broken handrails and cabinet doors and the carpet looked worse than a dirt floor.

Yeah, if you even slightly like your shit never rent to students.
One caveat to that.

My buddy has a condo that his crazy cat lady aunt willed to him. He cleaned it up and rented it to two Asian foreign exchange students.

He said the place was fucking spotless when they left. Now he only rents to foreign exchange students for 9 month leases. (He uses it in the summer.) He said he has never had a problem with foreign exchange students (mostly asian ones) because they're basically there to get a 4.0 and they never have people over or party. Also most foreign exchange students come from rich families so he makes they put down a 4 month security deposit to cover any possible damages.
Depends on how rich. When I was a teenager we had a (very rich) Taiwanese home stay for ~6 months, and granted he was fairly young, but I swear the kid must have had servants at home to wipe his ass for him. University age might be better, but it's still likely to be hit and miss.
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