# Does renting a room in downtown make sense?



## Causalien (Apr 4, 2009)

As most of you probably know, I am slowly converting the whole house into a rental (when time permits) and am now about 2/3 of the way to completion that I am beginning to think about the next step. Obviously having a nice big place to live is great, but I only need one room to store a desk and all my computer equipments to function. The rest I do away from the house. 

So here's the arrangement that I've been thinking. The top floor is rented out and I should be able to rent out the lower floor while keeping one room for myself on days when I need to be back (and keeping one stable address). Does it make sense financially for me to rent a shared apartment in Downtown (45minute drive away, on no traffic days)so I can be closer to all the conferences, meetings and people I want to get acquainted to as well as hire? The rent in downtown should be about the same as the lower level of my house, so it is a zero sum arrangement. 

In that general direction, what is a better story to say to these potential roomates since most of them ask for proof of income? That I am a trader, a landlord, a self employed entrepreneur? Or just show them my bank account? I am asking this because if I was interviewing people to rent out a room, my story sounds strange.


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## spirit (May 9, 2009)

Wow. Does this bring back memories. Many years ago I had a rooming house when that was all I could afford. I owned the house, lived on the main floor and rented out single rooms to men. This was not in the downtown core and I was lucky to mostly find good tenants who DID NOT want to party. Even so there were times that I wished for an easier way to earn my money. I honestly think that you would not want to live in a room downtown and put up with all the hookers, travelling conventions, theft, etc. But hey, what do I know? I would stay in your house because if you have not had to deal with renters before you should know that no one looks after your house like you do. Believe me, the tenants are more responsible if the owner lives on site. Then if all goes well, put out feelers for living downtown. In my opinion you are putting your home at risk and I would stay close by.


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## Causalien (Apr 4, 2009)

That's why I am keeping one room in the house for me.
I was hoping that randomly hopping back in will be incentive enough for the tenants to not destroy the house.


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## Berubeland (Sep 6, 2009)

Be careful, I was talking to a landlord who had this arrangement and when she decided to sell they determined she did not live there enough and she had to take her roommates to the Landlord & Tenant Board. She had a lot of problems...

The police were involved etc, she mostly stayed at her boyfriend's house, she had her ID there and after the situation got hostile stayed there less. Even the neighbours got involved in saying she barely even came there... 

As the landlord renting out a room, I'm not sure why your income would be relevant.


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