Are you renting rooms out in your home? Or are you renting our rooms in properties you own?
If you are, hopefully you’re using forms specifically designed to protect you and your property.
Worse yet, is not having any forms or agreements in place!
Improper documents can lead to
disputes over house rules
lost rent due to eviction confusion
lost income and time due to damages from disgruntled tenants
and much more
It’s been almost a decade since I started renting out rooms in my furnished properties and I know I started out doing it wrong. Fortunately for me, I put money into creating the resources and systems I needed to protect myself and make rooming houses work for me.
Fast forward to today and after dealing with 946 rooming tenants during those years (as of January 24, 2014), I’ve seen way more than one landlord should ever see and experienced more than I ever wanted to go through.
Is Too Much Experience A Bad Thing?
I’ve dealt with neighbours, the police, social assistance, bylaw officers and even SWAT (This is no where near as exciting as it sounds). I’ve evicted tenants through the legal systems in place, through threats of legal action and by understanding the laws and rules far more than 99.9% of the population out there.
Part of the resources we’ve created is a custom lease that was part of a package we previously sold for $75. Due to demand and inquires, I’m finally making this available to landlords again. If you’re renting out rooms in your property or subletting rooms, you need some kind of agreement in place and this one that is worth the wait.
Rental Forms For Everyone
Now just to cover all the bases when it comes to renting rooms and subletting, I’ve broken this into three different packages. If you’re just renting one room to a friend, an agreement should still be in place and you may not need everything I can provide.
On the other hand if you are using rooms in properties as a business model, the information I can is almost priceless when it comes to saving the frustrations of learning it the hard way, like I did!
Here is your breakdown with further details below.
Basic Forms – Subletting to a Friend Or A Single Room
The basics, an agreement, a room inventory sheet and a basic walk through of the information you absolutely need to know to protect yourself when renting out rooms in your home or subletting
Advanced Forms – Renting Several Rooms
Everything from the basics, an agreement, room inventory sheet, plus some bonus items to make you look like a seasoned pro. Additional templates that help set you apart from normal rental houses.
We constantly get comments from new tenants when they see how we have these set up and the information we provide. This is what has led to our constant stream of referrals from past guests and helps make us unique in the marketplace.
If you’re renting out a room in your residence, you want to get as much information about your potential tenant as possible. This package includes our rental application form to get that information so you can screen properly.
The Advanced Walk through. Want to separate yourself from the landlords who always find themselves running into problem tenants? The advanced walk through can do that for you. More advanced tips for more serious landlords who value their time!
The Complete Package – Running It As A Business
Everything from the basic and advanced forms package, but also the rest of the information to help you turn this into a successful business model.
When we bought our first rooming property from “an old hand” at the rooming business, we immediately made some changes to what was provided. When we bought rooming property #2 from another “old hand”, we incorporated those changes, added more and by property number three which we started from scratch, we had a great system.
Our rents were higher, leading to better tenants, the tenant were happier, leading to less problems and things blossomed from there. The complete package includes this inventory list to ease your transition to superstar.
Where and how to advertise. Knowing this can get you off to a great start. sure it’s easy when things are booming, but knowing where to get clients when the economy is slower can save you from desperate times. This information alone can make or break you.
A walk through of the processes I use and images and videos of actual rooms I rent out to give you pointers on making this work as a business model.
Best Practices. I include a number of tips here that can save your butt. Want to make sure you have a backup phone number for a tenant? I have a tip to get that. Tired of getting stood up for appointments, yep, got a tip to help stop that from happening. Tenants losing your information, yep another tip! And much more!
Finally, I’m also throwing in a 60 minute consultation with me to go over any questions you may have. If you’re just getting started, or considering going down the route of owning some rooming houses so you can make a ton of extra rental income, I can answer the questions you have.
