You have a house, a spare room and some debt to clear. You think a roommate just might be the way to add extra money to your budget. Or maybe you just inherited your parents’ house, and sentimental ties keep you from selling it right away.

Whatever the reason, renting out your home—or a portion of your home—for extra income appeals to you. But, before you advertise for a tenant or roommate, consider the pros and cons of renting your house.

Check out these three scenarios:

Scenario #1: You’re single and want to split your mortgage with roommates. Read More

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