Increasing my income

My solo phase in my house comes to an end next week. As planned when I bought the house, I’ll be sharing my two bedroom/one bathroom house with a roommate so I can generate some extra cash flow every month.

Getting a roommate wasn’t difficult at all. There are many people in need of affordable housing in this area and I just needed to decide what kind of roommate/renter I wanted: short-term or long-term. I decided to go with a short-term renter, as it would allow me to have some solo periods if I wanted them. If I had wanted a long-term roommate, I likely would have contacted the local housing match coordinator for help. This free program run by the county does screening and matching between people with rooms to rent and people needing housing. Although I didn’t end up using this service, it sounds like a great resource and I’d recommend that anyone thinking about renting out a room look for similar programs in their area.

Once I had decided to go for shorter term roommates/renters, I knew I’d have to furnish the room. I had an extra shelving/desk unit and chair that I had used in my bedroom in the rental, but I didn’t have an extra bed. I’ve had so many other expenses with a new house that buying a bed wasn’t something I had wanted to deal with right away. I had been thinking about putting off the final arrangements until after my surgery, but what looked like a great opportunity appeared through a Nextdoor posting. So I took care of that final detail one weekend by visiting a local mattress company and having them deliver and set it up the bed the next day. This potential roommate (who would only need the room during the week) didn’t pan out, but I was ready now.

While I looked at Craigslist for “market research,” I hesitated to list my spare room there. Nextdoor would have also been an option, but I didn’t list there, either. I chose not to list on them because I didn’t want to have to filter through a bunch of scams or people with sad stories, but I did regularly look at them for people seeking housing, just in case. For my own listing, though, I decided to target a group of people who I knew would be stably employed, yet not likely to stay long-term: travel nurses.

One of my friends had been a travel nurse years ago, but I learned more about how it works from an acquaintance I made at a Meetup shortly after I moved here. I learned that the local hospital used a lot of travel nurses. Contracted medical professionals like travel nurses get a housing stipend, and they can decide to use it all or pocket any extra to supplement their contracted income. The placement agencies will usually find nurses housing in furnished apartments that exhausts their housing stipend. In this area that housing is not in Napa, but a community just to the south. The commute during rush hour is slow, and the location is near a boring strip mall. While my room didn’t offer the privacy of an apartment, I could offer a traveling nurse a short commute (10 minutes maximum to the hospital), a lower monthly cost than the standard housing (therefore increasing their income), and proximity to nice restaurants and leisure activities. I found a Facebook group for traveling nurses and listed my room there with a few photos.

Then I had an opportunity fall into my lap. One of the women in my knitting group mentioned that an intern at her company needed to find a place to stay. The housing he had lined up fell through, and he had been living in an expensive hotel. I suggested she put us in touch and that’s how I acquired my first short-term roommate. The timing wasn’t ideal since he’d be here during my surgery and while my sister was staying with me, but we worked it out. While I offered to let him stay with me through the end of his internship in December, he was focused on finding a place of his own and only stayed with me two weeks. When he moved out at the end of September he sent me an electronic payment for the rent, and left me with a very nice bottle of wine.

Now that I knew this arrangement could work, I redoubled my efforts. I kept checking the travel nurse Facebook group and saw that people most frequently mentioned finding their housing through Craigslist or Airbnb. I was still reluctant to list through Craigslist, but I had had positive experiences using Airbnb as both guest and a host, and lots of positive ratings as both. I took photos of the room and the common areas of the house, built a listing on Airbnb specifying a minimum 30 night rental, and posted a link to it on the travel nurse group.

Within in couple days the inquiries started rolling in. I had six in one week: travel nurses, a business professional on a short-term contract, and a couple interns in the wine or restaurant business. Most people wanted to see the house and room. I was open to showing them the place, but told each one that I had multiple inquiries and wouldn’t hold the room for them. Over the weekend I showed the place to a young man who will be interning at a restaurant up the Valley. His mother and sister accompanied him and we had a nice, short visit while they viewed the house and room. A few hours later I got the confirmed booking request and accepted it.

So, starting next week I’ll have my roomie in place through the end of February, and I’ll also get the bonus of income AND lots more tax deductions for my “rental property.” 🙂

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3 thoughts on “Increasing my income

  1. My sister does exactly this! She got hooked up with travel nurses from a colleague at work and they sort of through the grapevine talked to each other. It worked out really well for her, though I don’t think she’s done it recently.

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  2. Oh that’s interesting! That’s a good factoid to store away in case we ever expand to a larger house and want to subsidize it. And it’s a great plan for sparing yourself the constancy of a long term roommate too. Hoping you have all good tenants!

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  3. Pingback: The housing update – Windycitygal

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