Use your home as a profitable income…

March 9, 2012

CIA Let Property Blog

Do you have more bedrooms than you need in your house? If you do, have you considered using your rooms as a profitable income and rent them out?

With the economy the way it is at the moment it is advisable to take the opportunity while you can.

You must also consider if your home is a suitable candidate for this. Is the room well furnished and property maintained? Storage space is always a plus point and make sure it is a comfortable living space.

Always investigate your potential tenants, get rental references and check their income just to make sure the tenant can keep up with their payments and you won’t have any loss of income.

The government in the UK have set up a rent a room scheme. If you take this opportunity home owners can receive £4,250 which is tax-free for when you let a furnished room.

If you would like more information on this, go onto the government website DIRECT GOV.

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