However, before you produce and post a room to rent sign there are some things you will need to consider in order to make your boarding house a real success.

Regardless of the reasoning behind setting up a home with rooms to rent or lease there are various issues that you will need to attend when you are interested in being the owner and operator of boarding houses. Here are a few ideas to help you get your boarding house set up and running.

Keep it Legal

Illegal boarding houses or rooming houses are simply that. They are easy to spot and easy to turn over to authorities. They may often disrupt the community flow of peace and or regulations. Sure, some individuals may make a quick buck by setting up illegally. However, eventually paying the consequences is more costly. Nevertheless, you should begin by considering the location that you plan to rent out to others. For instance, it might be in a busy city or somewhere out in the country. Each region has it own set of legal requirements and restrictions. Therefore, the first thing you will need to do is visit your local city hall to find out what type of zoning regulations and or licenses you will need for your grand opening.

Develop and Post House Rules

Providing room and board is not cheap. This is why it is essential that you develop and post house rules. Consider the things you provide to your renters. Consider the things your renters can provide to you. Determine what is acceptable and what is not acceptable by those inhabiting your rental property. Be sure to include your house rules in the rental agreement. You should also post your house rules in each room you rent as well as posting a copy of the rules in other shared spaces. Make sure that each boarder understands the rules and will abide by them while living on your property.

Comfortable Living in Boarding Houses

Comfortable living is a requirement and a courtesy. It is how you make your money. The things you provide to your boarders will depend on the type of services you wish to provide. As long as the house is legal and everyone follows the rules then everyone should be happy. When everyone is happy, your business becomes a success. However, each of your boarders will require a bed, a dresser and regular use of bathroom facilities. They will also need use of kitchen facilities or daily menu options such as breakfast, lunch and dinner depending of course, on the choices you make while setting up your rooms for rent.

Getting the House Ready for Boarders

Before you begin taking in boarders you will need to ensure that the space you plan to rent is clean and clutter free. It should also be a safe and healthy place to live. Remove any personal or sentimental items and secure them in another area. Determine the rooms or spaces your boarders can use and then supply them with the necessities they require or you choose to provide. Remember to include any costs for such items and services in your rental charges to help replenish the house stock of household goods, foods and beverages if you supply them to your boarders as part of your rental agreement.

People live and sleep in boarding houses or rooming houses. Rental rooms will require fire detectors and fire extinguishers. Linens and bedding, towels and washcloths for the bathroom or bathrooms are essential. Speaking of bathrooms and of course kitchens, be sure that your rental property can handle the extra load when it involves plumbing and electrical issues before you begin the journey of owing and operating boarding houses or rooming houses.

As someone who runs boarding houses, you will need to decide whether you will provide regular meals to your boarders. Alternately, you might choose to allow your boarders to prepare some small meals and snacks in their rooms. You should consider the pros and cons of this issue before making your decision. However, while providing regular meals you should ensure there is enough for everyone. Ensure cookware, dinnerware, and silverware. Consider the things you use daily and then increase the size or number by the number of boarders who will be residing in your boarding houses or rooming houses.

Successfully Setting Up Boarding Houses

Once you ensure that your business is set up legally, your rooms for rent are clean, clutter-free and supplied and you post your house rules, you can begin taking in boarders. Keep in mind that before you allow anyone to move into and or onto your rental property that you should do a thorough background check. This type of search is necessary in order to ensure your safety and the safety of your other boarders. You need to know exactly whom the person is that you will provide room and board.

Some boarders may have skills and talents you require for maintenance of the rental property. If so, then you might consider like other owners and operators of boarding houses or rooming houses that bartering some of the things you supply to a boarder for some skills he or she may possess to be quite amicably profitable. For instance, if you rent to a carpenter or plumber he or she might be willing to assist you with such tasks while you provide some sort of discount. Keep these things in mind while you begin building your new business of providing room and board to others.

Here are some ideas on our site on making extra money to get you started.

Now I’m not talking about opening a retail outlet or starting a lawn-care business. What I’m suggesting here is a source of extra income that you can develop at a reasonable pace now while you’re still employed, and that is a source of income that you would be happy to take with you into retirement. It well worth your consideration.

I don’t want to get trapped into the “gloom and doom” sort of thinking that is so prevalent in many of the current discussions of our economic situation. That said, we do face a whole array of unresolved problems – and this coupled with a government that clearly has no coherent plan for evaluating, let alone solving them, does not breed optimism. If your strategy for financial security relies on the government getting us through this “rough patch” so your 401K grows nicely and your government pension is secure, you might want to re-think that. Or plan on a much reduced standard of living in retirement. Hence my suggestion you look at the concept of residual income from your own business you run from your home.

Assuming this is of interest to you, let me suggest some characteristics that I believe should be part of a such an enterprise:

• Can do it from anywhere
• Does not require daily activity
• Free of licensing or permit requirements
• Has relatively low exposure to liability issues
• Minimal start up costs
• Plenty of resources available on the business so you can shorten the learning curve

Writing comes to mind. And there are tons of different styles of writing and prospective customers for your work. There are all sorts of business models that work for the internet, although this area is not without plenty of scams you need to avoid.

My purpose here, though, is not to suggest business models for you. I want to get you thinking about diversifying your sources of income by adding a stream of residual income. You might even find it helpful before retirement rolls around.

Earning extra money online is a great option that can help you financially and there are many financial opportunities that you can explore. Some people have turned to blogging for some extra cash. Others turn to affiliate marketing. Opportunities are even available for freelancers that want to use their skills to make some extra money.

Take some time to learn about the options available online for making money. It’s a nice way that you can add some extra money to your budget, making it easier for you to get through these tough economic times.

If you are looking for products you can sell on eBay, you might want to consider purchasing products that you can then resell on the site. Here is a list of some ways to find those products:

Government Auctions

So you want to know how to sell things on eBay? It’s quite simple: offer good products at bargain prices, and one of the best places to find really good items is at government auctions. Most of the items sold there are in mint condition and sold in bulk so you can get a very good discount.

Storage Unit Auctions

Most storage unit companies will sell the items in lockers once people fail to make a specified number of consecutive payments. This is another wonderful place to find things dirt cheap that are in a good condition.

Yard Sales

One person’s junk is another person’s treasure, so you can get some really valuable items at garage sales that are frequently offered at throw away prices.

Consignments

This is one of the easiest and fastest way to make money on eBay — sell somebody else’s stuff and make a cool 25% profit or more.

Retail Inventory

If you own a store, you could get rid of some of your old inventory through eBay. Alternatively, get in touch with the stores in your area and offer to help them sell their inventory for a percentage of the profit.

Festivals, Fairs and  Church Bazaars

When at a church bazaar, simply buy what’s left over for a deep discount. While at festivals and fairs, look for day sellers who want to sell all their items by the end of the business day. You can usually get huge discounts from them.

Drop Shipping

This is another simple way of doing business on eBay. Contact a drop-shipping establishment, and choose the products that you want to sell. The drop-shipping company ships products directly to your eBay customer. Obviously, your profit is the difference between what you charge your customer and what the drop-shipper charges you with shipping costs figured in.

eBay

Look on eBay for products like antiques, etc. that you can buy and then turn around and resell on eBay for a nice profit.

Of course, you don’t want to try all of these ideas at once. But pick a couple that appeal to you and get busy!

<i>This is our third in a series of articles to help budding eBay entrepreneurs get started.</i>

The wonderful thing about eBay is that you can sell most any odd item in your home and make a few bucks. We have all heard the old adage one man’s trash is another man’s treasure. Well it has never been truer than on eBay. So, here is a look at how to sell things on eBay without actually purchasing them.

With the economy still continuing its downward spiral many folks out there are trying to make a few extra bucks to keep their finances on track, and a good way to do so is to make some money from the things around your home which you are never going to use. If you are one of these people who are trying to figure out how to sell things on eBay, let’s begin by looking at what sells and how to find these items at home.

eBay has many users looking for collectibles such as old records, paintings, art work, copies of old or historical documents, books, furniture, and other rare or vintage items. So, start by rummaging through your closet, looking for items that may be useful to others even though they have little use as far as you are concerned.

Items like antique records, celebrity autographs, religious and other books, particularly those that are out of publication, old china and even your wedding dress can fetch you a decent amount of money. Remember the trick here is to offer a bargain.

Once on eBay, spend some time looking for items similar  to the ones that you want to sell on the auction list. eBay also has an advanced search option which can be used to look at the completed auctions from other sellers. You are trying to look for the auction time here, the description of the products, and the titles used by successful sellers.

Simply emulate these ideas to strike gold. Remember that your product is only going to sell quickly and at a decent price if you do a proper job of displaying and marketing it. So go ahead and take some time to get this right.  Post a picture of the product so that your buyers know exactly what they are going to get.

The site has several tutorials that give you step by step instruction on how to start selling on the site. Include as many keywords as you can in the listing and the title because people will often conduct their searches through keywords. Make your title descriptive and attractive.  Instead of going for something like new slippers, spruce it up and make it ‘Brand New Black Faux Fur Slippers’.  Be honest, of course.  But also get people excited about what you are offering.

Ensure that all your client communication is prompt and polite.  This will help you to increase your sales.

As you can see, the old junk lying in some corner of your house actually has money making potential, so why not exploit it?

Stick around for part four in our eBay start up series!

With the economy still in doldrums, thousands of people are turning to the internet to generate a second income. eBay presents a wonderful opportunity to make a decent income online. So if you want to know more about how to sell things on eBay, here is some information on how to open an eBay account and set up your store.

Setting up your eBay account

If you are wondering about how to sell things on eBay you will have to start by visiting the eBay homepage. Here you should see two buttons, one that reads “register” and the other that reads “sign in”. Click on the register button to reach the eBay registration page.

You will have to provide the appropriate information such as your name, email, and address as requested on the “Welcome to Registration” page.

The next step is to create a log-in ID for yourself along with a password. Your log-in ID will also be your username so if you intend to use your eBay account for business purposes, pick a name that is descriptive of what you do and sell.

You will have to provide the chosen password twice. Write down your username and password in safe place so that you can access it when required.

A secret question will also be required. If you ever lose your log in information you can get in touch with eBay customer service and they will verify the answer to the secret question before sending you the log-in details.

Finally, check the box that confirms your agreement to eBay policies and you are done.

Setting up an eBay store

Once you have completed the registration, log-in to your account and click on the “myebay” tab on the top right hand corner of your screen. From here you will simply need to go through the prompts. There are several options to choose from when setting up an eBay store — a $15 account is appropriate for a beginner. Free one month access to the selling manager feature is included in the fee, and you will be charged an additional $5 for it from the second month on. Even if you make an incorrect selection you can always change it later, so no need to fret.

Next, choose the layout, the categories and the store motto. And that’s all there is to setting up an eBay account and store.

Stay tuned for part two of our eBay series!

Over 78% of businesses in America are organized as a single proprietorship or with a partner. These organizational types leaves the proprietors with their assets exposed to danger But with liability insurance for small business, you can ensure that your own assets and company will be free from any legal liabilities.

This kind of insurance offers protection for your business in case it was sued for individual or property injury. These plans generally cover lawsuit costs and monetary judgments. Liability coverage can be obtained in different forms and based on the what type of business you have.

General liability insurance, or commercial general liability coverage, is a type of business liability policy that has the predominant role of saving your company from false claims in marketing, bodily injury to others and damages of a property. This insurance may be all you need, but you should examine the needs that you have.

Error and omissions insurance, also known as professional liability insurance, is required by businesses that provide services to their clients. This insures your enterprise in case of misconduct, mistakes, neglect and lapses. Having this coverage is legally required in several occupations including medical professionals.

Small companies who sell or manufacture items need protection in case someone is injured because of the product itself. The requirement to have product liability coverage are based on what your company does. If your business is retailing scrapbooking supplies, then you have a smaller need than a manufacturer of wood stoves.

The cost of insurance is not really as cheap as it once was. Because of the tragic events of 9/11 and problems in the stock market made the insurance prices to increase with the amount of coverage going down. If it is time to renew your insurance coverage, consider comparison shopping first for business insurance companies to see if there are other options.

Success will come if your business is insured against possible risks. Decide what coverages you need and look around for the best coverage.

For instance, your property was destroyed in a fire. You might be insured for that loss and are most likely to receive insurance payments to cover your lost earnings during your recovery stage, depending on what type of coverage you have. It is better to check if your plan has that type of coverage.

Another type of business insurance is business liability insurance. Its purpose is to shield a business asset in the event that a company was assumed to have caused a property or physical injury to a customer.

For example, the policy of your liability insurance may possibly pay for the payout if there was a claim of personal injury caused by goods sold by your company. Or, it could cover the costs of lawyers if another company filed a lawsuit against you for breach of trademark.

A lot of insurance providers bundle together the necessary coverage that includes both liability insurance and primary property coverage in a reasonably priced business insurance rates. You can consider altering your insurance bundle by increasing coverage limits to include choices to cover particular threats to your business.

Additional commercial insurance firms have packages for specific types of businesses and optional coverage for particular kinds of risk, such as surety bonds. Insurance agents can explain all business coverage you might need for your particular company.

Your business, as far as you know, may be facing risks that usual small company owners don’t have to deal with. Some examples would be: bringing equipment to job sites and being required to guarantee that the property remains secure, manufacturing foods that could be exposed to infection or making use of unsafe chemicals in your factory. Remember that no matter what your business does, there are coverages suitable to risks facing your company, including E & O insurance.

There are a good number business support services available online that a small business owner can use to be more competitive with the larger corporations. By making full use of technology, today’s entrepreneur can find themselves in a better position to be pleasing to clients that are willing to buy their products or services.

A virtual phone number service is just one example of utilizing Internet technology to help make your business appear much larger than it is. With the ability to have multiple extensions, forward to any phone number in the world, and set up a virtual office having many employees at various places, a virtual phone service can be a real life saver.

What do you think about a web conferencing service? Start meeting with valuable clients, customers and colleagues online rather than face-to-face. This has the potential to save you a great deal of money, but still gives you the ability to hold important meetings that are so critical to having a successful business.

If you are looking for more of an in-person experience, then use a web based video conferencing service. These allow you to hold meetings online using a simple webcam, letting you see and interact visually with others that you need to meet with.

Payroll is made easy with an online payroll solution. By giving you the capability to enter employee payroll data with a web interface and calculate payroll taxes automatically, figuring employee paychecks has never been this easy or quick.

There are many reasons why an entrepreneur needs to look at more closely the business support services currently at one’s disposal to help in operating a more efficient business. If you have ever thought about running your own business, the time is now! Use technology to work for you and find out how it can help your operation be more successful.