Renting a room out

lexington013

Recently lost my job (I'm ok mortgage wise for about 12 months).
Am now thinking to keep things afloat, to rent a bedroom out.
Has anyone done this, that can give me some advice. Just want to keep afloat and looking at a number of options.
Thanks in advance, (ps have I posted on the right forum thread.?):)

ahomemadetouch

I have rented a room out in the past
pros
its extra money I got an extra £300 a month
you have extra company and someone to do things with

cons
you have to share your living space with someone else
you lose a spare room
if your on your own and take in a lodger then you no longer get single person council tax discounts

there are other option to consider
taking in foreign students - this is often short term and usually well paid but you may need to feed them
if you live in certain areas you may be able to get a monday to friday renter this gives you back your space at the weekend.

katejo

Are you claiming benefits? You might find that you lose some of that due to additional income from the rent.