Tips for renting your spare room to a lodger – Herts Advertiser

PUBLISHED: 11:45 09 September 2020 | UPDATED: 13:34 09 September 2020

It’s a good idea to draw up a lodger agreement before your new housemate moves in. Picture: iStock/PA

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Renting out a spare room can be a great way to earn extra cash – but there are things you’ll need to consider first. Lisa Salmon found out more. When good lodgers become good friends… Picture credit: iStock/PA

With increasing numbers of people losing their jobs as the pandemic takes its toll on the economy, there’s a growing need for additional income sources. And for some, that source might be as close as their spare room.

You can potentially make thousands of pounds a year – up to £7,500 tax-free in the UK under the government’s Rent a Room scheme – by taking in a lodger. Take the right precautions

Continue reading this atricle at https://www.hertsad.co.uk/property/tips-for-renting-a-room-to-a-lodger-1-6829690