Thinking of taking in a lodger?
There are plenty of benefits to taking in a lodger:
- £100s of extra income every month to help cover the mortgage, or simply as extra spending money. See how much you could earn
- Up to £4,250 a year of this is tax free. As from April 2016, thanks to SpareRoom's six year campaign that's going up to £7,500 a year!
- A new friend to go to the pub/share a bottle of wine with
- Someone to look after your house/cat/stick insect while you're away
Of course, there are plenty of things to think about before you take in a lodger - that's why preparation is essential. Luckily, most people who take in a lodger have a good experience.
95% found taking in a lodger a positive experience
We polled hundreds of SpareRoom users about their experience of taking in a lodger and those are the overwhelmingly positive results we got. Even with the tiny minority who had a negative experience, almost half said they'd try it again.
60% would describe their lodger as a friend.
The truth is the vast majority of potential lodgers you'll meet through SpareRoom are decent, ordinary people. Well, that's doing them a disservice - interesting and extraordinary too! But you get the point, they're generally the kind of people you might meet through your friends and work colleagues - people just like you.
Earn £4,250 a year tax free
The government's Rent a Room Scheme allows you to earn up to £4,250 tax free from your lodger. In April 2016 that's going up to £7,500 as a direct result of SpareRoom's six year Raise the Roof campaign.
Depending on where you live this could mean all your income is tax free.
How much could you earn?
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Still not sure?
Taking in a lodger is a big decision so it's always important to take your time and make sure you've done your research. If you're still mulling it over then why not download our free guide to taking in a lodger to read while you weigh up your options.