You rent a room in your home using a lease that states that you are only renting one room and not the entire property. If you are a tenant living in a rented property, you can sublet a room to another tenant through a space rental agreement. A lease is a contract between a landlord and a tenant. Normally, it is not necessary to have it certified notarized. JotForm allows you to include digital signatures such as DocuSign, which are usually legally binding, in your rental agreement. Finally, it may seem obvious to some, but if you`ve never had rental income, it`s worth mentioning that you have to pay taxes on the rent you receive. As an individual, rental income is taxed at the same rate as any other income you will be earning. .