Looking for a way to offset skyrocketing housing costs while generating extra income? House hacking might be your answer. From renting out a room to converting your basement or even building an accessory dwelling unit (ADU), this strategy lets you leverage your primary residence for passive income. This guide breaks down modern house hacking, exploring options like small multifamily units, shared living spaces, and ADUs.
We’ll also cover the practical steps to rent out part of your home, including prepping the space, understanding landlord-tenant laws, marketing effectively, and drawing up a customized lease. Whether you’re new to house hacking or a seasoned investor, this comprehensive guide offers actionable advice to maximize your returns while minimizing risks.
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