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How To Make Money From Your Spare Room

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Whether you need money to fund a child through university, top up a dwindling pension, cope with redundancy or to pay for a holiday then renting out your spare room can be the answer. What's more you can earn £4,250 tax free and you can let out the room Monday to Friday allowing you to have guests at the weekend. This new trend is particularly popular with workers who need to be away from home during the week but want to return home on Friday.
Clear the room of all clutter and if necessary add a coat of paint.
Invest in one set of plain bed linen and good pillows and a mattress protector.
Create a desk space with a table light. Almost everyone who rents Monday to Friday is working away from home and they often want to work in the evening. Having wi -fi will make your room even more attractive.
An ensuite bathroom will command a premium but is not essential. If the lodger will be sharing then create a space for their toiletries and provide a towel of their own.
Decide which common parts of the house you are happy to share e.g. the living room , garden. Your lodger will need access to the kitchen but if you provide tea and coffee making items then it cuts down on traffic in the mornings.
Your lodger will expect to leave things behind when they leave on Friday morning but will also be clear that the room will be used in their absence.
Take the best picture you can of the room and sign up with a Monday to Friday specialist like Look at other rooms in your area and with similar facilities when deciding on the price.
Your arrangement is much more flexibile than normal tenancy arrangements and if things don't work out you can terminate immediately.
You should expect to be paid in advance weekly or monthly and also you can ask for a deposit.
Having a lodger can also be a great way of making friends and having company in the house if you live alone.


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