Real Estate

Advice on renting out rooms in the house

  • Last Updated:
  • May 6th, 2020 3:43 pm
[OP]
Newbie
Apr 23, 2020
12 posts

Advice on renting out rooms in the house

Hey guys, long time lurker here. I bought a 3 bed/ 2.5bath detached house in Kitchener Waterloo region recently, and I am looking forward on renting out two of my rooms for some added cashflow until I can complete my basement, after which my plan is to move into the basement apartment myself and rent out the top portion.

This is my first home and this would be the first time I would be house hacking, so I was just looking for some general advice you guys with experience might have for me. Like things to ask for to weed out the bad apples. Or just general stuff to keep in mind

I know as I would be sharing the common space and kitchen with the roommates, so they would not be protected by the residency act, so evicting a bad or troublesome roommate would be pretty easy. Also I plan to finish the basement within the next 6 months fingers crossed, so I guess a 6 month term would more ideal?

Also what would be a good source for writing up a good tenant/ roommate agreement?

Thanks in advance for the help!
3 replies
Deal Addict
Sep 6, 2017
3193 posts
1897 upvotes
Just from your first thread, I know it will not be your last. How to evict bad roommates, roommate did not pay rent, who cleans the kitchen and bathroom of shared dwelling, roommate smoking weed, .......
Good luck and don't find a deadbeat roomie.
Deal Addict
User avatar
Jan 2, 2012
3912 posts
1772 upvotes
Toronto
khmuah wrote: I know as I would be sharing the common space and kitchen with the roommates, so they would not be protected by the residency act, so evicting a bad or troublesome roommate would be pretty easy. Also I plan to finish the basement within the next 6 months fingers crossed, so I guess a 6 month term would more ideal?

Also what would be a good source for writing up a good tenant/ roommate agreement?
All i can recommend is to write up a very detailed contract. Since this situation doesn't fall under the RTA, it will be judged under basic contract law. So if you think a roommate is a problem and decide to void his contract and evict, they could then sue you for wrongfully terminating the contract and whatever financial losses they suffered as a result.

To avoid this you should be specific in what activities (i.e. not paying rent, smoking, loud noise after certain times, pets, hostile to other roommates, etc) will void the contract and be grounds for an immediate eviction or warning. Think of all the potential situations that could happen, and include details on what will happen in each case.
Member
Feb 15, 2018
294 posts
360 upvotes
Though you are not governed by the RTA, I would say an RTA standard tenancy agreement is a very good starting point to base your contract on. Theoretically, you could just rip such a tenancy agreement and remove reference to the RTA and such a document would address 95% of the problems you might run into. No point in trying to re-invent the wheel

Top