To let or not to let...

[tortietta]

I had the question posed to me the other day why don't I rent out my spare room and save myself a bit of money? Usually my answer to such questions is simple -- I like my own space too much. While this answer is true in many aspects it is not the only reason why I am hesitant to start renting out my spare room. Mainly I am afraid of what might happen. Some of you may remember the Flat Mate incident from a couple of years back and the fallout that occurred. Even now, a couple of years on, I can't forget what happened. I can't forget what I went through, and I think a large part of my apprehension to rent out my spare room comes from a fear that it might all happen again. However, I can't get the idea out of my head.

While I do like living on my own and having my own space, the thought of being able save $200+ a fortnight is very appealing. I don't need to share my place with someone in order to pay rent and keep on top of the bills, but it would be nice to get ahead without too much effort. My place is fully furnished, as is the spare room, and I'm not looking for someone to 'share' my place with -- like a flat mate -- but rather someone who would be willing to board in a fully furnished room, with access to full household facilities.

I have spent a lot of the weekend thinking over the pros and cons of letting out my spare room, and every time I think on it I keep coming up with more positive aspects than negative. I live within 2 kilometres of the university -- less than a 15 minute walk to the main campus. Chances are I would be able to let the room out with no trouble at all. I like the thought of having a reason to keep my place constantly clean. I like the thought of having to stay on top my books and making sure everything is running smoothly. And as much as I like being on my own, and having own space, I don't think I'm going to have a problem with sharing that space. I like knowing that this place will still be mine. I like knowing that I'm not looking for an actual 'flat mate' and that I have control over who I chose to move in. And I like the thought of being able to save money.

The first thing everyone has said to me when I mention this idea is that I don't want to fall into the same trap as last time. I don't want another Bitch. I get the impression from some people that I'm just setting myself up for failure again, that if I try this it is only going to end badly. And I just don't know. Maybe I am being foolish even thinking of letting out my spare room, but if I just sit and wait in fear for the rest of my life, I am never going to get any further than I am now.

I would love to hear what other people think. What would you do in this situation? Is it worth taking the risk? Or should I just forget about it completely?

I think this could work. I think this has a lot of positive aspects, and I think that taking the risk just might be worth the while. The selfish part of me says to just do it, damn the 'what if's' and just do it. And it's tempting. It's really tempting...

Comments

[aiturnizzle.livejournal.com]

I think you should do it. I know what it's like to want your personal space and everything, but it's nice to have someone to talk to every now and then, and it's always nice to have someone around when you come home.

just as long as you choose carefully and wisely :)

[tortietta.livejournal.com]

Thank you for your imput!

Interview...

[gos72.livejournal.com]

Maybe interview prospective tennants.

Re: Interview...

[tortietta.livejournal.com]

Absolutely! If I decide to go through with this I plan to screen each potential tenant very carefully.

Devil's Advocate Time

[elseinane.livejournal.com]

Whenever you live with someone; you are taking a chance. Doesn't matter if you are just letting a room or sharing everything.
Is $200 a fortnight going to offset someone else's social life/problems/relationships coming into your home?
Even though you have the power to choose who moves in - what is your plan of action if it goes bad? Example: bouncing rent checks, non-payment, always paying in arrears. Are you prepared to evict someone?
Are your utilities billed separately? What about mysterious phone bills/unexplained damages?
How are you going to screen your potential lessees?
Just some things that might need to be thought about before you jump into it all....

Re: Devil's Advocate Time

[tortietta.livejournal.com]

Ah, Elise! Thank you for some good food for thought. Many of the issues you bought up I have already discussed to a certain extent, but you have certainly given me a little more to think on.

[not-concerned.livejournal.com]

I think that if you feel you can handle it, go ahead! You've already been through the worst, so you should be more prepared this time around. Just make sure you interview everyone carefully, lay out some ground rules right at the start, and get EVERYTHING in writing (which of course you already know, but there it is again anyway :D :D ).

[tortietta.livejournal.com]

You've already been through the worst, so you should be more prepared this time around.

I think a large part of me wants to believe that I have been through the worst and that all I can do now is move forward and be better prepared, but I think there will always be a niggling doubt in my mind as to whether or not I really am prepared.

But, thank you for you input! And I've missed you! >:D

[kairos103.livejournal.com]

I could do the same thing with my spare room and probably should, seeing as I am poor as a churchmouse right now. But HELL if I'm going to give up my freedom for a few hundred bucks a month!!! I just don't like people that much :P I particularly suspect I would not transition well from having no roommate for 4 years to suddenly having one.

So that's not advice as much as me saying what I would do in this situation. :))

[tortietta.livejournal.com]

But HELL if I'm going to give up my freedom for a few hundred bucks a month!!!

You know, the really selfish part of me wants to do this because it will mean that I won't have to worry about possibly not being able to afford the trip at the end of the year. If I can save nearly $500 a month, just from having someone live in my spare room... Damn, it's tempting!

But... I don't like being social. I don't want to have to talk to someone once I get home from work. I don't know if I can really stay the 'nice' person all the time if someone else is living here.

I think ultimately the lure of extra money will win out, but maybe only for a trial period. We'll see.

[shoemaster.livejournal.com]

I think if you get someone who knows that they are just 'renting a room' as opposed to sharing the flat then you'll be in the position of control that you want and can maintain that control.

And the $200 a month won't be too bad either. Maybe if you start off with short term leases/whatever you call them to make sure you and the boarder don't have any major clashes and then you can re-evaluate/sign up or whatnot for a longer period of time?

[tortietta.livejournal.com]

Maybe if you start off with short term leases/whatever you call them to make sure you and the boarder don't have any major clashes and then you can re-evaluate..

I really am leading toward this idea. I'm only human and the lure of extra money is very appealing, but I honestly don't know if this can even work. So I think a trial period, of some kind, will need to be had before I can determine if the money is really worth it.

Boarders...

[gos72.livejournal.com]

Could they bring their own tea pot?