Renting Out Extra Rooms Can Bring in $$$

Robinson added that in most states there are very few zoning or legal issues around room rentals, but you may want to talk to your insurance agent to make sure your homeowner's policy adequately covers you.

The best advice is to realize that opening your home to a renter opens you up to a liability and drama, but also to a possible stream of income.

So, take your time and use plenty of common sense as you decide who is the right roommate for you.

"Renting a room in your house is a lot more like a marriage than your traditional landlord-tenant relationship," Robinson said.

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