Would you ever consider renting out a room in your house? Your opinion/advice please

[Contrarian]

I've just finished a cuppa (or should that be a potta?) with a good friend of mine. He lives in a 4 bed 2 bath house and his bank repayments are $250 a week - I envy his small mortgage. In a year's time he'd like to travel. He lives on his own, aged 50 and figures that by renting out a room in his house, he'd be able to save at least $150 a week which over 52 weeks would be approximately $7500. He's in two minds and I wasn't able to give him any conclusive advice. His location is just a cricket ball throw from the CBD without being inner city.

Pros

He'd probably get close to the $7000 target. He's not a playboy/big spender.

It'd be company - he lives on his own, family are all in the Eastern states - all his friends are at the workplace.

Cons

To me, I'm not sure anyone who's hit 50 (even though he's a young minded 50) can adapt easily to shared house living anymore. For me, I'd be too used to my own space, lounging around in my underwear or less in summer, leaving the dishes there for a couple of days. I know it's not quite share housing but that's what I told him I associate it with.

Secondly, again going back to my own student share housing days, it can be a very much hit and miss game - and when you miss, you do pay for it in many ways. I've heard of flatmates leaving with big phone bills and no forwarding address for example. Drugs, property etc. Sure you can do all that screening but...

I think it'd be better for him to have a female tenant - but how would he feel about her bringing home guys or having friends round?

This board seems to be made up of many people of varied backgrounds. If you were in his position, what would you do re: taking on a boarder?

Over to you.

 

[svengali]

Any way you look at it it is shared housing.

If he is used to living alone and pleasing himself what he does and when having another person around means modifying his behaviour to some extent and he has to decide if the money is worth the aggro.

There are just so many issues to be worked out:

* Cooking - separate or a shared chore?

*Washing up ditto

*Clothes washing ditto

*T.V.: - do we share the big screen job or does the tenant bring his own?

*Lights out and noise off when?

*What chattels can be shared and which are MINE?

Definitely, if there is any doubt about it he should insist on a trial period of at least a couple of weeks before committing long-term.

 

[asianguy77]

Maybe look at homestay. Suits alot of overseas student who come to Australia to study for the first time usually first go into homestay. Most of them are well behaved and respectful.

 

[Benny]

i have rented out twice,both times were a joke,never again rather eat weet bix with water than chase the extra dollar

 

[Contrarian]

asian guy, we did discuss that homestay thing but from what i gather, one of the conditions of such overseas students is that you've to cook for them as well.

the pro to that of course is they do pay top dollar and they're gone after a few weeks.

 

[asianguy77]

Just throw a shrimp on the barbie???? :laughing4 Can't be too hard lol . But yeah good exchange of cultures, and most of the asian students are quiet and keep to themselves

 

[WRXXXR]

If he has a $250pw mortgage (imagine that or even like 5 or 600!!) then he's got enough money that he could just redraw?

Theres no way i'd rent out a room in my place to strangers.

 

[Contrarian]

I think because he's such a careful person with his money, he's not the kind of guy who'd want to increase or prolong his debt by redrawing. Interesting point though, we didn't discuss that. But so far, I think I gave him the right advice - it's a road that I certainly wouldn't go down i.e. renting out to a boarder.

 

[Naughty Thoughts]

It's one of those things where if everything goes well then it isn't a big deal but, as noted in the opening post - when it goes wrong it goes really wrong. I've been the person renting the room (sofa actually, in my case) and found the lack of privacy and restrictions on what could be done to be difficult to adjust to, but not onerous.

There are plenty of horror stories floating around though, probably because they make for a better telling than "he was so quiet, everything went perfectly..."

 

[Gentleman]

I've been the person renting the room (sofa actually, in my case)

Not for much longer, are you counting down to the big day?

 

[bushseeker]

I've had mixed experiences sharing. Most of ny issues have been from selecting them based on tit size
he could advertise for a fifo. Worker

 

[WRXXXR]

I think because he's such a careful person with his money, he's not the kind of guy who'd want to increase or prolong his debt by redrawing. Interesting point though, we didn't discuss that. But so far, I think I gave him the right advice - it's a road that I certainly wouldn't go down i.e. renting out to a boarder.

I guess his mortgage is maybe around the 200k mark so even with drawing 15k isnt going to break the bank. Its all well and good to pay off your mortgage as quick as possible but imho, not at the expense of some enjoyment every so often.

 

[maxman]

My partner left me a couple of years back and I have a $500 a week interest bill. I'm in my 50's. I had a housemate of 34 last year and got on very well with him. We had a few drinks in town together on several occasions. After about 6 months he left to go travelling. Currently, I have a 50 year old resources worker who is expecting to be posted to the NW in a few months time. He is a basic kind of guy. No bullshit and calls a spade a spade. We get on brilliantly even though we have completely different backgrounds. He starts work very early so is in his room by 8 at night. No disagreements whatsoever and we have an arrangement that we will tell each other if we get annoyed at something. We cook, wash etc seperately but often have a beer together either on our balcony or down town. He pays me $250 a week for board only (it's quite a nice place with a great view). I often hear him going to work but I know he tries hard to be as quiet as possible so it's no problem to me. He is neat, clean and polite. We had a mutual 1 month try-out period at the start. It's all been better than I expected but I understand just how hard it could be with the wrong person. Having a fully furnished place means that they move in with a suitcase and can move out just as easily. Maybe that's a good starting point. Sure I would love to have a gorgeous younger woman around me but it's good to be realistic! What was interesting was advertising on Gumtree. I had 3 people who contacted me, had a long chat, arranged for them to come over for a friendly sunset drink and none ever turned up or even phoned to apologise!!! I was so surprised but also glad I didn't get somebody that bloody inconsiderate!

 

[bushseeker]

Problem with renting out to younger women is guaranteed theyve got a huge line up of meth heads. Crims and tatooed wankers that will be trapsing through disrespecting you house and you
Women these days have no intrest in respectable men

 

[Jarum27]

...Women these days have no intrest in respectable men

Dont generalize dude. There are good girls out there.

Also, if you are in your 50's.....younger woman could be someone who is in their 30's and working fulltime.

 

[Sensual ~ Vanessa]

Sharing at 50...mmmm
Yes a challenging thought.
Its possible to find a respectable house mate without drama but it takes some commitment to investigating
the right person
References? A good sizeable bond and a contract which are legally binding from a private rental perspective.
How to find the right person is the biggest challenge.
Perhaps if he takes this direction, you as a friend can help him choose who.
Its always a risk in more ways than one, but there are good people out there who respect boundaries
and so long as all thats covered up front and in writing, there is potential for a happy arrangement.

As a worker with my own work space, I've had many propositions to share and I have a strict criteria and stick to
that but there is always compromise in sharing arrangements and it depends how much compromise your friend wants to take.
At the end of the day, its his place, his call
and if it goes bad..he can ditch their stuff on the verge and boot them but hopefully it wouldn't come
to that, but that is the risk.
People with bad habits and addictions won't show that at first and it slowly unravels over time
Unfortunately thats the hard part.

I think at the end of the day...your own space is worth every penny

 

[bushseeker]

Im not generalizing. Thats personal experience renting a room out

 

[Naughty Thoughts]

Not for much longer, are you counting down to the big day?

Ha! Actually, I was renting the sofa when I was in Sydney a few years ago. But yes, counting down the days. And the hours. And the minutes.... :love3:

 

[junglejimbo]

Sure I would for the right person
It's a great way to meet new people from all over the world

 

[Contrarian]

You may meet new people jimbo, but you may get a whole lot of dramas as well - not all of them bad, not all good either.