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I don't believe a basement is something that you can legally rent. It has to be granted a "bedroom" status by the city. It depends on the state too, but I'm pretty sure that renting a basement out can only be done "under the table". Also, if you're in business of renting anything out - you should have a signed lease. Otherwise, they can trash it and leave any time and there will be very little that you can do about it.
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