Why renting a private room is an easy way to make extra money?

Easy and quick to set up

There are many advantages to setting up this type of additional income. This will require little effort in terms of procedures, time, and energy.

Few requirements can hold you back

Indeed, you will not need to follow many process.

  • Depending on your country and your local laws, it is important to check with the local authorities what are the process to follow. In general, it will be a lot easier than with renting an entire place because the place remains your primary home. In many cases you will not have to register your private room with the city hall, and you have no specific limitation in the number of days per year.
  • If you are the owner you will not have to ask the approval of anyone, and probably not to the trustee if you are in a building. But this has to be checked with the common rules that are enforced in your building.
  • If you are a tenant, you should need a written agreement from your landlord to cover you in the event of a conflict with him.
  • You should not have to register to any list or request a certificate. You shouldn’t have to join any group or association. Check if in your country you will need to provide any additional services as is the case of B&B or guesthouses for example.
  • Your only step should be to declare your activity to the tax authorities.

You do not need to move or to invest in a new place

The principle ...  Read more...