Hey everyone! Enjoy this article by Mike. I was able to meet him at FinCon and he is super awesome!
Michelle regularly updates her side income journey and one of her strategies is renting a spare room to her sister. Renting an extra room is an easy way to generate additional cash, and for Michelle it makes a noticeable difference in her end-of-month finances.
Like Michelle, many people prefer to rent to friends or family because they already know the person and have a sense of their habits and lifestyle.
But that caution about renting to strangers — that it will cause more problems than it’s worth — isn’t always accurate.
I’ve been renting out spare rooms for seven years and have hosted 13 different people in two spare rooms. None of them were people I knew prior to moving in; I found them online. Based on that experience, I want to challenge some common myths about renting to strangers.
Myth #1: Your roommates will throw wild parties and invite everyone they know.
Reality: Roommates usually mirror the household environment. In my experience, most new tenants are grateful for affordable, flexible housing—especially people relocating to a new town for work who prefer short-term options over signing a long lease. Because they appreciate the arrangement, they generally respect the household rules and keep parties to a minimum.
I’ve left for vacations lasting weeks without ever returning to a trashed house or evidence of ongoing blowouts. If you set clear expectations about noise and visitor policies, most tenants will honor them.
Myth #2: You’ll be chasing rent every month.
Reality: Many people hesitate to rent a room because they imagine late payers who won’t respect payments. In practice, that’s been rare for me. I’ve had one incident requiring follow-up, and otherwise rent has arrived on time for 44 consecutive months. Most tenants see rent as payment for a service; the majority value their housing and don’t want to risk losing it by not paying.
Myth #3: A new roommate will ruin your personal belongings.
Reality: I keep few personal items in common areas—just an older TV and a small DVD collection—and none suffered damage. I also bought a high-end grill and shared it freely; roommates used it frequently and treated it well. Sharing possessions responsibly is possible without micromanaging; mutual respect and basic ground rules go a long way.
Myth #4: Your new roommate will want to be best friends and do everything together.
Reality: Some roommates become friends, but most maintain separate lives and simply use the spare room as a place to live. We occasionally ate out together or shared a holiday celebration, but there was no expectation to tag along to every activity. How involved you become is up to you and depends on mutual preferences.
Myth #5: Roommates will be loud, inconsiderate, and disruptive.
Reality: In my experience, roommates—both those with typical 9-to-5 jobs and those working irregular shifts—have been considerate and respectful. I haven’t had late-night blasting or habitual drunkenness. The main noticeable impact has been increased wear and tear in high-use areas, like carpet and walls, which is a manageable consequence of having more people in the home.
Final thoughts
There are occasional exceptions—some stories confirm these myths in isolated cases—but they aren’t the norm. Although all my tenants were strangers at first, I often developed respectful relationships or friendships that sometimes continued after they moved out. Once you’ve established mutual expectations, renting to someone unknown can feel no different than renting to a friend.
The hardest part is taking that first step to welcome an unfamiliar tenant into your home.
For those who rent a spare room to family or friends: what concerns do you have about renting to a stranger?
About the author
Mike is a part-time live-in landlord who started renting his spare room to help cover graduate school expenses. Finding little practical advice available, he launched a blog at rentingoutrooms.com to share his experiences and help others improve their financial situations.