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Understanding a Room Rental Agreement
If you're seeking to make extra income or want to downsize, then consider renting out one of your empty rooms before you decide to sell your home. People who rent out rooms may be empty nesters or they may be younger people who have extra space and need additional income to cover the mortgage. Whatever your stage in life, you can increase your income by renting out a room in your house. Before you decide to rent a room, though, you should have a room rental agreement in place to protect you and to describe what the renter can and cannot do in your home.
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