HOME SHARING FOR MORE INCOME

Do you own a home and need more income?  Are you constantly searching for money making opportunities on the internet to boost your retirement or social security?  Keep doing that, of course. But,you can benefit even more from multiple sources of income.  You should consider HOME SHARING as an easy, passive source of extra income.

HOME SHARING is when you  rent out your extra bedrooms, the basement or even a mother-in-law suite, and share the common areas in the house.  Home Sharing is also when two or more people rent a house or apartment together with private bedrooms while sharing the rest of the space.  The shared areas might include the living room, kitchen, dining area, yard and parking areas.  A private bathroom would be nice.  But, a shared bath can work too.

You might also share cooking, meals, grocery shopping and household chores.  It's like a family arrangement, but could be a sharing among friends or compatible strangers (future friends).  Think about the  TV shows  The Golden Girls and Friends when you try to visualize how you might share your home.

Of course, your journey into home sharing will not be scripted.  It will take a little bit of effort, work and patience on your part.  But it is worth it.  

The benefits are enormous.  In addition to more income, you will experience companionship and a better sense of security.  You will have someone coming in and out of your house every day who can call for help if you fall and can't get up.  You don't have to wait for those monthly visits from the kids.  

WHAT TO DO?

Hold on.  This will be a little more complicated than just finding someone who can afford to pay you. You need to think about this.  Sit down.  Get a glass of wine and a few sheets of paper.  In order for this to work, you need to find people you think you can tolerate living with you.

Put together a list of questions.  I'm not talking about weeding out people by race, creed or color.  I mean people who don't clean up after themselves.  People who make too much noise or like to party.  Maybe you want someone who can drive you to the store or someone who can cook some of the time .  Write that down.  Of course, you want to know the source of income and how they plan to pay the rent.  

WHAT KIND OF PEOPLE ARE OUT THERE?

You will be surprised by all the different types of people who are seeking shared housing accommodations.  The list includes: seniors, baby boomers, college students, single parents, divorced men and women, working professionals, people relocating from other states and from abroad, and anyone who wants to live in a nice home in a nice neighborhood.

This should come as no surprise.  Even in a good economy, baby boomers and seniors are trying to stretch severely depleted savings and nest eggs.  College students, and their parents, welcome stable housing.

Just don't forget tenant screening.

WHAT IF IT DOESN'T WORK?

Don't worry about whether it's going to work or not.  It usually works out just fine.  If you take precautions  to screen the potential renters up front and ask some good questions, you should not need to worry.  Think of it as a new adventure.  If you are a senior or a baby boomer, you have withstood the test of time and will relish this type of change.  Just look around you.  Seniors and baby boomers are living their lives with gusto.  Why not go for it?  

http://www.homeshareconnections.com/

Why Don't More Seniors Share Housing? - NYTimes.com