Rent A Room Analysis

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Many apartment buildings feature tenants living in close proximity.
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In 2017, the average cost for a one bedroom apartment in San Francisco hit $3,333 per month. In rental markets like that, it's no surprise that people sometimes consider renting a room in someone else's home rather than getting their own place. While this arrangement does save money, it can lead to some awkward situations if your roommates hog up the bathroom, refuse to do the dishes and don't pay their bills on time. Each situation has pros and cons to consider before you start packing.
Rental Costs

Renting a room is often significantly cheaper than getting your own place, especially in expensive rental markets like New York and San …show more content…

Even if you opt for a small efficiency to save money, the space is yours from wall to wall. If you rent only a room, however, you'll have to share common areas like the bathroom and kitchen. With a little bit of respect for others, this arrangement can actually work quite well. Things can go south in a hurry, however, if one person always leaves the bathroom a mess or leaves dirty dishes in the sink. Bear in mind that the problem could even be you. Everyone has a potentially annoying habit or two. If you're prone to forgetting you have clothes in the dryer, for example, others could find you difficult to share space with you. Before renting a room, get honest with yourself about your ability to change your own behavior and show patience to …show more content…

If you can't pay your apartment rent, you'll know that eviction and tough times may come your way. You won't necessarily see trouble coming in a room rental. If you rent a room in someone's home and they stop paying the mortgage, you might not know they're about to face foreclosure. If you haven't paid your electric bill, you know the power will eventually get shut off. In a room rental, you may not know there's an issue until you find yourself sitting in the dark. When renting a room, recognize that you're relying on strangers. Room rentals do often go smoothly, but you have no guarantees that your rent or utility payments go where you assume they

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