Up to £63.4 billion could be made a year if homeowners were to let out unused bedrooms.
According to Abbey Mortgages, if homeowners were to let out unused bedrooms they could avoid the stress of rising food and fuel prices, whilst also reinvigorating the British economy.
Insurance Daily has reported that around 18.2 million households have an unused bedroom, which if let out could on average provide a property owner with £289 a month. The government also runs a ‘rent-a-room’ scheme where up to £4,250 could be earnt annually tax-free.
If you own a property and are letting rooms to tenants it is important that you have some form of landlords insurance, to provide the necessary protection for your property and yourself.
