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Make money from a spare room

publication date: Apr 12, 2013
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author/source: Judy Niner
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Judy Viner, founder, mondaytofriday.comFamilies are still feeling the squeeze on their finances. The cost of energy and other household bills has risen once again and six in ten parents say they can no longer afford to turn the heating on for as long as they need.

The answer could be right under their roof… Homeowners in the UK are currently entitled to earn £4,250 tax free cash each year by renting out a spare room in their home. This equates to an extra £81.70 each week and, according to the English Housing Survey, 49 per cent of homeowners currently under-occupy their homes and last year the number of people lodging doubled to almost one million.

mondaytofriday.com is aimed at the business professional in need of a place to stay on week nights that is closer to their place of work. 

Families benefit from having the space back for weekend visitors and have extra income.

Here are my top ten tips to homeowners considering taking in a lodger:-

  1. A comfortable bed. Your lodger is staying with you to help their working life – they'll want a good night's sleep
  2. Wireless broadband. Yes, they may want to surf and Skype the night away.
  3. Light. For reading, writing, make-up
  4. Hanging space. Even if it’s just a few hooks and hangers.
  5. Well decorated.  our lodger will want a room at least as comfortable as their own. Wouldn't you?
  6. Clean. Make sure the room is cleaned regularly.  Your competition is the B&B down the road.
  7. Uncluttered. You may like your knick-knacks, but your lodger would probably prefer clear space.  They will also need enough storage.  S/he may want to leave a few things in their room at weekends - a couple of spare shirts, underwear, nightclothes etc, as well as toiletries.
  8. Decent bed linen.  This isn't the place to use up old, un-coordinated sheets and pillowcases.
  9. Effective curtains or blinds. Your lodger won't want to be woken up by morning light because you've skimped on curtain lining.
  10. Warmth. A cold room will force an early departure.

Find out more about the benefits of renting a spare room by visiting www.mondaytofriday.com.