Here are some tips and resources to get you started:
While the list below is not exhaustive, and we cannot provide direct legal advice, we hope it serves as a useful resource! If you have additional questions, contact your local city agencies, or consult a local lawyer or tax professional.
Rent received for a spare bedroom is typically considered taxable income and must be reported to the IRS. However, income can be offset by tax deductions you may be entitled to such as mortgage interest, home repairs and/or improvements, homeowner’s insurance, utilities, housecleaning or gardening, etc. Consult a tax professional for details.
We strongly recommend that all
Local zoning codes sometimes place restrictions on the number of unrelated persons who can live in a home together. Check your city’s zoning code to ensure that you are complying with any such rules.
Many cities have taxes, permitting requirements, and other regulations around short-term lodging and vacation rentals.
You have the right to choose who you will live
If you receive any public benefits, income from rent may affect those benefits. Please consult with your case manager prior to entering into a
It is important to understand and abide by other contracts or rules that bind you, such as leases, condo board or co-op rules, HOA rules, and/or rules established by tenant organizations. Read your lease agreement and check with your landlord if applicable.