NewsPrice of Paradise

Actions

Renting single room could be a way to save in Tampa Bay's affordable housing crisis

housing market
Posted
and last updated

Some people are getting creative to find housing in the Tampa Bay Area and may turn to renting single rooms in a house rather than an apartment or the home itself, and there are many people looking to fill the need.

Step in off Ronald Marani’s sunroom in Haines City, and you might find yourself right at home.

“I live here by myself. Been here for seven years,” said Marani.

He recognized paying for housing can put some in a pinch, like those in school or just getting out on their own.

“Apartments are $1,700 to $2,500 a month, and that’s not with $100,000 a year job,” said Marani. “I can’t imagine you’re going to spend $500 plus a week just to open the door.”

Recently, Marani helped someone find a place to stay and also saved some money by renting out a room in his house for $750 a month. His front office approved it and ran a background check.

“He rented the front bedroom, and he could have access to the house, the kitchen, the living room, the sunroom, the driveway, and it worked out well,” said Marani.

Marani soon plans to move and do this all over again, this time listing a room online, and he’s already had people reach out. He advised if you want to rent out a spare room, get the okay from your housing management and do your homework to find the right match.

It’s a living situation some may jump on as the Tampa Bay area deals with an affordable housing crisis. Nearly 90 miles away in St. Pete, Calvin Campbell has a similar arrangement.

“I had these drapes, and I decided that this would be really a good idea,” said Campbell.

Campbell rents out an area of his home and has a written agreement that spells out how it all works, like never entering his room without permission and having a grace period if the arrangement isn’t working.

“You have to do your due diligence,” said Campbell. “You don’t allow a stranger to come into your house just randomly. One, he has to have references. Two, you take a copy of his ID.”

Stephen Hachey, a Tampa real estate attorney, suggested if you’re renting an individual room, consider a month-to-month lease.

He also said there could be additional county or HOA restrictions.

“If you’re living paycheck to paycheck and you have an extra room, it may be enticing to rent that room out,” said Hachey. “There’s certainly a pro of receiving more income, but there’s also a lot of liability and a lot of cons by renting out that individual room.”

WHAT IS THE PRICE OF PARADISE?
As Tampa Bay continues to attract new residents and businesses, the impact of living in paradise comes at a cost for all of us— from the increasing cost of housing and infrastructure to utilities and insurance. ABC Action News is committed to helping you and your family make the most of your money and navigate through the Price of Paradise.