| At this bitter time of saving and lack of credit the | | | | £90 a week on average, according to |
| press have been reporting that homeowners are | | | | spareroom.co.uk. |
| becoming more and more tempted to ignore the | | | | 3. Be a host family. Host families offer students who |
| important matter of home insurance. The truth is that | | | | are learning English the opportunity to come and |
| you home can be the key to receiving extra income | | | | sample British life first hand. There are additional |
| every month, and with a bit of planning and | | | | requirements for host families, aside from just having a |
| consideration, you may even find that your monthly | | | | spare room for students to stay in, it is often expected |
| insurance payments could be completely covered by | | | | that hosts and visitors eat together and interact |
| making your house work for you. | | | | socially. However, despite the financial benefits from |
| 1. Rent your office. You're probably thinking, I don't have | | | | being a host to international students, it is also a very |
| an office, but this really doesn't matter. If you have a | | | | rewarding in terms of learning about other cultures and |
| spare room that is quiet during the day, it may be | | | | helping young people. |
| desirable for a freelance writer or graphic designer, or | | | | 4. Rent the house during holidays. Thinking of going on |
| indeed anybody who may not have quite a convenient | | | | holiday? Why leave your house empty when you |
| enough space to set up a practical work area at | | | | could rent it out in its entirety whilst you're away. |
| home. Take a look at your location, the size of the | | | | Advertising and preparation of the property needs to |
| room, and imagine the kind of person who might be | | | | be taken into consideration, but depending on the time |
| able to use it. You may be able to make up to half the | | | | of year and your location, you could be set to make |
| average rent of a room. | | | | more per week than you pay yourself. |
| 2. Get a lodger. According to spareroom.co.uk, "The | | | | 5. Start a B&B. Similarly to the above, running a |
| average lodger nowadays is much more financially | | | | Bed and Breakfast could be significantly more work, |
| independent than was the case 30 years ago". Again, | | | | but arguably the most obvious road to extra income if |
| if your location and the size of the room is practical, | | | | you have the space. Typical rates per room per night |
| there may be someone who would want to live in it. | | | | are around the £35 mark, but of course you |
| Typical lodgers include young professionals who are | | | | have to take into consideration the responsibility of |
| just starting a new career and can't afford their own | | | | buying and cooking breakfast, and making sure your |
| flat, and at the same time don't want to live in | | | | property meets regulations. |
| student-type shared living. Lodgers can pay - of | | | | Finally, it is highly recommend that you take out |
| course depending on room size, location, etc - around | | | | adequate contents insurance. |