Rent out your spare room and you can benefit from some extra income each and every month. Who wouldn’t want a bit of money in their bank for some financial security? If you are debating whether to rent a room out in your home, read on to discover the benefits of doing so in further detail.
If your home design allows for another person to move in without impacting your living space, you should consider it! There are numbers of benefits to gain by renting a room out in your home, but the most obvious benefit is the money you will receive. There is no denying that times are tougher than they once were and extra cash each month is something that would be welcomed by most people. If you currently rent a property, you are still able to rent out the spare room, and so this could be a great way to put some extra money in the bank so that you can save up for your own property. It is also worth bearing in mind that the first $7,500 you earn per year is tax-free, which further enhances your profits. A second source of income can give you peace of mind and an added sense of financial security.
Nevertheless, the benefits of renting out a spare room in your home are not only financial. Most people also find that they enjoy the experience. You may find that the person you rent the room to becomes your friend and that you enjoy having someone else’s company around the house. Either way, you will meet new people and it can be an insightful experience.
Is Your Driveway Paved With Gold?
Parking space adverts may be something you have seen before, and you may be wondering whether your driveway is paved with gold. If you live near a train station, an airport or in a big city, than it could be. Read on to discover all you need to know.
Depending on where you are based, you could make up to $200 per month, or even more in some places, such as premium areas. How good does that sound? $200 a month and all you need to do is let somebody park in your garage or drive. City centers tend to be the most covetable spaces, but don’t fret, as you can still make some serious money elsewhere. If you live by any big transport link, such as a railway station or an airport, or even a football ground, it is definitely worth seeing how much you could make from your car parking space.
There are lots of tools online to help you find out whether it is worth posting a rent my space advert. You can also see if anyone else is renting out their car parking space in the area and how much they have advertised it for. It is worth pointing out that when we talk about car parking spaces to rent, we mean off-street parking spots, which are on your own property. You cannot sell your residents’ parking permit, as this is against council rules and can result in a fine.