Swell in householders taking in lodgers

More and more home owners are renting out rooms in their houses – and an increasing number of people are prepared to lodge, according to the website Spareroom.

The website has reported a big spike in lodger registration numbers in early January, resulting in almost 6,000 home owners renting out spare rooms by the end of the month.

January was a record month for new lodger numbers, up 15% on the previous record month last August. New lodger numbers in January were also up 83% on December 2011 and 22% higher than January 2010.
 
The site says that with families struggling to keep on top of their mortgage payments, utility bills and accumulating personal debts, renting out a spare room on a short or longer-term basis has proved an easy way to earn extra income.

With the average UK room rent £398 per month, and in London £677 per month, families can earn thousands of pounds a year, while offering affordable accommodation to tenants.
 
Matt Hutchinson, Spareroom director, said: “It’s not surprising that the lodger population is expanding so rapidly as home owners look for ways to boost their incomes.

“With the Government’s Rent A Room scheme allowing people to earn the first £4,250 per year without declaring any tax on the income, it is still one of the easiest ways to earn some extra cash.

“For some people, the monthly income from a lodger will be the difference between losing their home and keeping it.

“In parts of the country such as London, where demand for rented accommodation is soaring, live-in landlords are helping to ease the pressure on the rental market by providing an additional supply of rooms to meet increasing tenant demand.”