Beat the budget

Got an extra room you plan on renting out?

It hasn’t been easy understanding the best way forward for landlords in the last couple of months. With rising interest rates impacting borrowing repayments, not to mention the cost of living soaring and the recent mini-budget bouncing back and forth on its pledges to support energy bills.

Not to mention the cost of living soaring and the recent mini-budget bouncing back and forth on its pledges to support energy bills.

But there is any easy way to help beat the budget. The HMRC Rent a Room scheme allows you to gain up to £7,500 a year tax free. That’s an extra £625 a month to help with the bills and give you a little extra. And until you earn more than that, you don’t need to declare a penny of your earnings. It’s a simple and safe way to give your bank account a boost, while avoiding hassle and time consuming paperwork. 

With city-living costs having driven workers to rural locations, people are now more than ever looking for a place to stay that’s close to their work for a few days each week, so they can easily enjoy all the benefits of being in the office but still keep their countryside postcode. 

Our MondaytoFridayers are looking for weekday accommodation across the country from Chester to Cardiff to Clapham. If you have a room to offer, it’s simple to create an advert, find the right lodger for you and your home, and start enjoying a little extra. 

For more details take a look at our overview of the Rent a Room scheme.