SPRINGFIELD, Ore. -- Rob Sanders never thought he'd have a roommate ever again. That all changed when the 30 year old bought a Springfield home and realized he couldn't pay the mortgage without one.

"If someone doesn't rent my house for three months, I'm in trouble," said Sanders.

And he's not alone. Homeowners are renting out rooms in single family homes at a record rate.

Oregon's rising foreclosure rate may be to blame. It more than doubled between June of 2007 and June of 2008.

Another reason may be the unstable housing market. There were 40 percent fewer closed sales in June 2008 than one year ago.

That's why this house has both a for sale sign and a room for rent sign. It's been on the market for more than a year. The homeowner said she decided to look for tenants while the home was for sale to help pay the mortgage.

While renting a room to make some dough sounds pretty easy. Sanders warns people to be picky because sharing a home with a stranger doesn't just mean sharing space but also sharing a part of life.

If you do decide to rent a room in your home to a stranger, there are some risks. Here are some ways experts recommend protecting yourself:

1. Get a credit report and run a background check on a potential tenant.

2. Ask for references, and check them out.

3. Write up a rental agreement that spells out exactly what the person will and won't have access to.

4. And make sure to take a deposit that covers the first and last month's rent.