Hi. I’m Connie. As a serial “Grandmapreneur®”, I speak to retirees or soon-to-be retirees on the benefits of pursuing entrepreneurship in Retirement. This blog post will help you understand whether you should take in a renter or roommate, which you will need as you consider starting a business.

Should You Take in a Boarder or Roommate?

Taking in a boarder or roommate can be a great way to supplement your income and have some company. However, you must consider some factors before making this decision. 

In addition, you must weigh the pros and cons before deciding, such as the extra income, companionship, and social interaction versus the potential for disruptions to your privacy and schedule. 

Ultimately, the decision to take in a boarder or roommate is a personal one. It should be based on your needs and circumstances. You should also consider all factors and consult with professionals. 

What to Consider Before Taking in a Boarder or Roommate

Here’s what you must consider before taking in a boarder or roommate: 

1. Make sure you have the space and resources to accommodate a renter or roommate.

Before taking in a boarder or roommate, you should ensure that you have enough space in your home for them to live comfortably. This may include a separate bedroom and bathroom and access to common areas such as the kitchen and living room. 

You should also ensure that you have the resources to accommodate another person. This includes having enough furniture and linens. On top of that, you should prepare to share your house with someone else, just like when you’re living with your kids. 

2. Screen potential renters or roommates.

Before taking in a renter or roommate, screen potential candidates to ensure they’re a great fit for you and your Lifestyle (e.g., staying fit over 50 and cooking your meals). This may include conducting interviews or background checks. You can also ask for references from previous landlords or roommates.

3. Consider any physical or medical limitations you may have.

As a senior citizen, you may have physical or medical limitations that could affect your ability to share your living space with a renter or roommate. 

For example, if you have mobility issues that require equipment for seniors, it may be hard to provide physical assistance to a roommate.

4. Be prepared to deal with any potential conflicts or issues that may arise.

Sharing a living space with another person can sometimes lead to conflicts or issues. Hence, you should be prepared to deal with these. This may include setting clear boundaries and rules, being open to communication and compromise, and being prepared to address any issues that come up calmly and respectfully.

5. Consult with a lawyer or real estate professional.

Before taking in a boarder or roommate, consult with a lawyer or Real Estate professional. Doing so ensures that you comply with any laws or regulations regarding renting. This may include obtaining the necessary permits or licenses and understanding your rights and responsibilities as a landlord or roommate.

Conclusion

Taking in a renter or roommate is a big housing decision. But at the end of the day, it’s up to you to decide. Given this, I suggest you consider the factors above to make an informed decision. 

Disclaimer: The material and information contained in this article are for general information purposes only. You should check with a financial advisor before making any business, legal, or other decisions.

Do you want to be a second-act entrepreneur? My book might just be the answer. It’ll show you that it’s never too late to start your dream business. Check it out now! 

The post Taking in a Boarder or Roommate appeared first on Connie Inukai.

The post Taking in a Boarder or Roommate appeared first on Connie Inukai.

Connie Inukai Grandmapreneur

As a serial “Grandmapreneur®”, Inukai speaks to retirees or soon-to-be retirees on the benefits of pursuing entrepreneurship in retirement.

Retired from teaching Technical Writing at the University of Maryland and Johns Hopkins University for four decades, Connie Inukai became an award-winning inventor at the age of 68.

Author of "How I got My Product on QVC, The Today Show, The View, and More...In Retirement", she helps others generate free publicity for their products.

She is the creator of Write Your Selfie®, where she inspires people to write their life stories in a fun and easy-to-read format.

Featured in Entrepreneur magazine, “6 Reasons to Pursue Entrepreneurship in Retirement,” Connie encourages Baby Boomers to have an active retirement through business or social entrepreneurship.
Because…

Passion has No Expiration Date!