I might rent out a room in my house to a roommate. How do I determine how much to charge in rent?

What I've typically done is listed all my expenses for the house, the mortgage payment the HOA dues (if applicable) the electricity cost, cable and internet (if any) and the phone bill (if applicable) then I've divided them in 1/2. I found that In Florida i rented a room with a private bathroom for $600 per month all inclusive. I would over estimate the electricity bill due to extra consumption in the summer, I would have roommates that turned the heat on or they cranked the AC way down causing my bill to shoot up from $80 to $140.00. You have to take all that into account too.

Another way is look to see what others are renting rooms out for, you don't want to price yourself too high.

Good luck

One thing you can do is check the papers or rental sites on the internet for rentals in your zip code....see what if offered and what the average cost is. You would have to do a guesstimate of how much higher your utilities will be. It matters if the person has a private bath or access to outside, full use of the kitchen and that sort of thing.

Also, a local real estate office may have someone who is willing to share this info with you.

my peers' approaches are good ones. Make sure you calculate in, your pocket profit,

scientifically called NET PROFIT.

and make sure you have a deposit that covers damages to walls, carpets, etc.

also, make sure you file with your city that you have a rental........some have forms that

need filing.........and you MUST have a "new?" occupancy permit for tenants--you have

to have x more fire extinguishers, escape areas, etc.

if you ignore the occupancy permit, you may not accept rent.