Could renting out your spare room make you money?
Автор: Rest Less
Загружено: 2023-10-01
Просмотров: 4680
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Renting out a spare room in your home can be a great way to boost your income and under the Government’s rent a room scheme, you can bring in up to £7,500 a year tax-free.
There are some rules though. The room you let out must be furnished, and it must be in the main part of your main home. The room can’t be used as an office, or for any business, although you can still use the scheme if your lodger works in your home in the evening or at weekends, or is a student.
Make sure you inform your mortgage lender and home insurance provider before you let out a room, just to be on the safe side, and think about getting a lodger agreement too, so you’re both clear on where you stand.
Sites where you can advertise your room include Spare Room and Room Go (not an ad). You can find plenty of other tips on letting out a room and making sure you qualify for rent a room relief in the link in our bio. #lodger #rentaroom #spareroom #personalfinanceuk #restlessuk #restlessukmoney #incomeboost #moneysavingtipsuk
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