Discussions

One day I think I might want to rent out a room in my house. It's just me here, and I really only use the main floor.  
 
So I've been thinking about renting out the room downstairs.  
 
My question to ebrandon members is, in order to do this, do I have to register myself as a landlord anywhere, or do I just start giving out a tenancy agreement and provide receipts to the person?  
 
Also, for those of you that do rent out rooms, etc in your home, how bad do you get dinged on income tax, since it would be claimed as "income?"