How to Safely Rent Out Your Extra Space

So you have some vacant rooms in your house or apartment, great! Most people just use these extra rooms as storage spaces where everything simply collects dust and is forgotten for all eternity. Some, however, utilize these empty spaces and turn them into easy money by renting them out to other people. But, before you start inviting strangers into your home, make sure to first read this list of how to safely rent out your extra space.

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Section 8 Housing Program

Do you need financial assistance to help pay for monthly rent or mortgage payments? If you’re considered low-income and require assistance with housing costs, then you should try to qualify for the Section 8 Housing Program.

What is Section 8?

Section 8 Housing is a federally funded housing program that gives beneficiaries monthly vouchers that will help them pay for rent or mortgage. How much assistance money will I get?

Each voucher is equivalent to 30% of your current monthly housing cost. The remaining 70% of the cost must be paid by the renter. Your local Public Housing Agency will determine how much you will receive when you apply.

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