What is the Right Rent for a Homeshare?: A Guide for Renters and Providers
- Apr 10
- 3 min read
Updated: 4 days ago
There is a lot to navigate when it comes to listing and searching for a homeshare. One of the biggest questions potential homesharers ask is, “How much should I charge/pay for rent?”
The cost of rent is dictated by the local housing market, not simply what the homeowner is hoping to make in extra monthly income. Smart Share recommends that homeowners who are looking to rent a room base their rent amount on the low end of the market rate, depending on the exact offering. If there is a private bathroom and kitchenette, rent would be higher than if these are both shared spaces. In addition to kitchen and bathroom access, you will take into consideration things like parking, storage, laundry, outdoor areas, and other amenities when determining a fair rent. In general, the more/better the amenities, the higher the rent.
Renting a room in a home is usually less then renting a separate unit. To figure out how much that might be, read rental listings posted in the area; see the pricing of similar accommodations, specifically for shared-space listings. To see what other people are charging for shared spaces, you can check out websites like:
Just make sure you're comparing apples-to-apples: A room in a house with similar amenities or an ADU or whatever you're offering/looking at.
Also, consult with people you know who have experience with homesharing and real estate professionals who may have experience with your market.
It might be tempting for home providers to charge a very low rent and think you’re doing the world a favor by providing low-income housing. While Smart Share is in the business of promoting affordable housing, we’ve found that charging too little can cause as many issues as charging too much. Both Seekers and Providers can end up feeling “trapped” by the low price, with Providers finding it difficult to raise the rent, even when necessary, and Seekers finding it impossible to find a new place at the same low rent. Even if the homeshare is otherwise positive, feelings of financial resentment can easily sour a good living situation.
Be ready and open to negotiate. If there are stipulations with the homeshare, for example, if the renter won’t have access to the garage or a full kitchen, or there is a significant task exchange involved, the price of rent will likely need to reflect those limitations. The home provider has the ability to decide what will be shared and private. It may be ideal to start more restrictive and, once trust is established, ease up over time.
The purpose of a deposit is to cover the last month’s rent (or the necessary portion of it) when a renter moves out, as well as cover any utilities and damages. At the time of move-in, a Seeker would expect to pay whatever amount of rent is agreed upon for the term at move-in, plus another full month of rent as the deposit. Coming up with that much cash up front can be difficult, so paying the deposit in installments is also an option. Be sure to get all of this in writing before any money is exchanged.
See Smart Share's sample worksheet for ways to address some of these issues.
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