If you have extra space in your house, you may have considered renting out a room to bring in some extra cash and share the utility bill costs. One reader is thinking about doing such a thing, but wants to know if there are any hidden costs that he should be aware of:
I am curious about the hidden costs associated with renting out a room (from the perspective of a landlord). While I have managed property in the past, I was never responsible for the income, I just made sure there were enough people renting, that they paid rent and utilities on time, and kept the unit(s) in good condition. As a result, I’m not sure what to expect on the financial side of renting.
The reason I ask is t