Qstions about how to rent out ur home?(qstions in additional details)?

[bearchan]

If I wanted a family member and a friend to live in my house and only pay for what they use (water,heat, etc) so about $300.00 a month. By law do I have to create a lease or rental agreement? Each would have their own bedroom and full access to the house.

If they live with me for a year, and I make no profit off of them renting, then do we all have to declare/claim it when we do our taxes?

[smid]

You don't HAVE to, but you'd be stupid not to.

They don;t declare what they pay, ever. If they are only sharing bills, you needn't report.