Rent out your room – A 10-step guide

Once your current tenant gives notice to vacate the room, you generally have 1-2 months before they move to find a new tenant for your room. Check your lease agreement to determine how much time you have available.

Finding the right tenant for a room can be a time-consuming process. Therefore, it is vital to respond promptly to a notice. However, you should not feel obliged to offer the room to the first potential tenant that comes along. Conduct a thorough analysis of the current rental market to identify what type of tenant you are looking for, and what rent you can realistically expect. Your goal is to get a reliable tenant who is interested in renting your room over an extended period.

Many landlords make the mistake of waiting until the last minute before they initiate the rental process, which can lead to lost revenue due to an unoccupied room that doesn't bring in any rental income. With the right strategy and approach, however, it can be quick to find the perfect tenant for your room.

Your next step is to formulate a precise description of the room you intend to rent. Include details such as the room's size, the monthly rent, the condition of the room, and the expected deposit, etc. Frame the description in a positive way; if the room is small, highlight its cozy and intimate atmosphere, and so on.

It is important to describe the various possibilities that come with the room. Could it, for instance, serve as a study room or a place to hold small, cozy gatherings? Consider what facilities and services you can offer, such as access to a common garden, parking options, or proximity to public transportation and shopping areas. Highlighting unique benefits that are not easily available elsewhere might be what convinces your future tenant to choose you.

Familiarize yourself with the current market for room rentals. You can use online portals such as Housingtarget.com to get an overview of the price level for similar rooms in your area. For example, look at room for rent in Europe, room for rent in the Netherlands, room for rent in Germany, room for rent in Denmark, room for rent in Sweden, or room for rent in Norway.

After analyzing and crafting a detailed description of the room you wish to rent, along with its benefits, the next step is to consider which type of tenant would be the best match for the available room.

As a landlord, you will achieve the most stable income through long-term rental contracts. It can be financially straining to have tenants who only rent the property for a short period. Therefore, it's important to envision a detailed profile of your ideal tenant that suits your rental property. You want to find a tenant who not only takes good care of your room but also has a stable financial background. The perfect tenant should be able to pay their rent without issues for many years to come.

Now it's time to create an advertisement for your room. The purpose of the ad is to present a clear and inviting portrayal of the room, designed to appeal to the tenant profile you have identified. The advertisement should include important information such as the room's size, location, type of room, rental costs, any additional fees, and other relevant data. Ideally, the rental ad should also contain an elaborate description of the room, accompanied by inviting pictures.

Although many rental companies and private landlords often manage the renting of their rooms themselves, it might be a good idea to consider getting assistance from a property manager who specializes in renting out private accommodations.

A property manager can assist you with:

• Creating an appealing rental advertisement and assessing the room
• Identifying potential tenants who are a good match for your room
• Drafting a rental contract that is tailored for room rental
• Communicating with tenants and advising on the ideal tenant relationship
• Renting out the room
• Handling rent and deposit collections
• Accounting for the rental

Involving a property manager can be valuable, as they often have a broad network and rich experience with room rentals, which can increase the number of potential interested tenants. Moreover, they handle all communication with the tenants and are responsible for showing the room, contracts, and ongoing rent collections.

Now you are ready to launch the promotion of your vacant room. Here is an effective procedure:

Advertise your vacant room for rent on Housingtarget.com

As mentioned, it is important to formulate a convincing advertisement that accurately and clearly showcases the features of the room and your contact details. Make sure to take some inviting pictures of the room so potential tenants can get a good impression of what you are offering. Then, create your ad on Housingtarget.com, which is one of Europe's leading portals for property rentals. This will ensure that your room is seen by a wide selection of people looking for a room to rent.

Contact people who are looking for rooms to rent directly

You also have the opportunity to reach out directly to house seekers who are actively looking for rooms to rent. Many house seekers describe their housing wishes in search advertisements on Housingtarget.com. You can browse the database to find potential tenants who are looking for a room like the one you offer and invite them for a viewing.

Utilize your network to find the right tenant

Utilizing your network can be a gold mine in the hunt for the perfect tenant. If you know someone looking for a new place to live, it is a good idea to reach out to them and make them aware of your vacant room. It's not unlikely that your friends, family, or acquaintances know someone who would be the perfect match for your available room.

Take advantage of social media

Social media is a potent tool to reach a larger number of potential tenants at once. Consider creating an advertisement on platforms like Facebook to increase the visibility of the room. Housingtarget.com also manages several free housing rental groups on Facebook, where you can increase your room's exposure to a larger number of house seekers without any extra cost.

Now, inquiries from tenants who are interested in renting your room start coming in – and you should now show the room to the tenants you'd like to rent to.

Ensure the room is clean and presentable before the showing. Make a mental checklist of important questions that you can ask during the viewing, which can help you assess whether the interested tenants are a good match for your room. Give the tenants time to inspect the room and ask questions, and be open to discussions about price and any specific wishes they may have for the room.

Once you have identified a potential tenant for your room, it is important to conduct a background check. Evaluate the tenant's financial stability, either by obtaining documentation of a steady income or by conducting a credit assessment. Also, trust your intuition, as it can be a costly mistake to rent your room to the wrong person.

Once you have reviewed the tenant's background and feel confident in the tenant's reliability, it's time to sign the lease agreement. It is wise to have the contract checked by a lawyer to ensure that all legal aspects are handled correctly. The contract should include details such as rental price, deposit, binding period, use of the room, any additional costs, maintenance, and rules for subletting. Avoid just using generic contract templates from the internet; always get legal advice for drafting the contract.

Signing a lease agreement does not mark the end of your relationship with the tenant. You should continue to monitor the condition of the room, check for any damages, and ensure that the tenant is treating the room properly. It's important to maintain healthy communication with your tenant, which not only fosters a pleasant atmosphere but also contributes to a longer-lasting rental relationship (which ensures a stable income from the rent over time).