Six ways to make money from your home | Property


1. Take in the hostel

High family bills make it harder than ever to make ends meet.

However, your home may provide some additional income, and you may not even have to pay tax on that cash.

The UK Government’s room rental scheme enables you to earn up to £7,500 per year completely tax-free by renting out a furnished room in your home.

You can advertise your room online on websites like spare room (You can also download a tenant agreement for £4.99.) Another website, RoomBuddies, which was used by some people before, is now integrated with SpareRoom.

Just be sure to tell your home insurance provider that you have a renter.

You must live on the property with the guest for at least some of the time to qualify for the benefit, and it must be your primary residence. If you earn more than renting a room, you will need to complete a tax return to pay any tax owed on the remaining income.

“You don’t need to own the property to use the allowance, but if you’re renting, you need to check your lease carefully, and if in doubt, talk to your landlord,” says Sarah Coles, senior personal finance analyst at investment site Hargreaves Lansdown. Of the cases, sub-leasing is specifically prohibited.”

2. Rent your own parking space or driveway

You can rent your own garage or off-street parking lot or driveway hourly, weekly or monthly.

There are many websites that connect people who have empty parking space with drivers who need to park in a certain place.

You can advertise on websites like YourParkingSpaceAnd the JustPark And the Park on my drive. Barklet It is an option for long-term exemptions.

house with motor
Have you ever thought about making money from the driveway? Photography: Paul Springett 02 / Alami

You may pay a listing fee, and you’ll typically pay around 5% to 20% commission on bookings.

If you live near a busy railway station or a big attraction where parking is at a premium, you can make a good chunk of money.

Likewise, if you live near an airport, you may want to make room for vacations.

The most famous football ground when it comes to locals renting their own parking space is Old Trafford in Manchester United, with an average booking fee of £13 for an event, according to YourParkingSpace.

3. Turn your home into a movie collection

Every movie and TV drama needs proper specific locations, and you don’t need to live in a luxury property for your home to make money as a movie location. Lots of ordinary homes are used.

However, if you live near or in London, and have plenty of parking for movie crews, your home will most likely be chosen.

If you have a series that you know is shot locally, you might be out of luck. For example, BBC drama ‘Casualty’ has been in the works for decades, with Bristol residents making money showing their homes as locations when production was based there, before moving to Cardiff.

You can advertise your home on agency websites like ScoutsAnd the The site is workingAnd the amazing space And the Shoot Factory.

On average, hosts earn from £500 to £2,000 a month from one to three bookings by renting out their home as a location, according to Scouty. The average duration of imaging is one day.

“Short-term rents for photo shoots and movies are skyrocketing, because they pay better than Airbnb and are less hassle,” says Ryan Gannon, co-founder of Scouty. “Shots shot range from small individual content creators, like YouTubers, all the way to big movie productions.”

group site Looking for architecturally inspiring properties within the M25 or prime counties. Its characteristics have been featured in popular BBC programs such as Killing Eve and Silent Witness.

If you have a spacious family home, try luxury sites.

4. Rent out your storage space

If you have a semi-empty loft or garage, for example, consider renting this to someone who needs them to store their stuff. You can list your space on websites like hell By detailing location, volume and monthly cost.

According to the storage rental company StashbyOn average, you can expect to earn around £1,000 a year renting an unused garage or loft space.

You can even turn an unused space of your home into rentable storage, like a bedroom or a large closet.

5. Rent your home as an office space

The coronavirus pandemic has changed the way we work, with more of us now working from home for at least some time more than ever. But not everyone has the space to set up a home office.

If you have a spare room, you can earn between £50 and £250 a day by renting it out to a domestic worker.

A home office space with a graphic designer's desk with a laptop by the window.
You can rent a room as an office. Photo: JM Creative Ltd / Alamy

Websites like Office Riders Enable professionals and businesses to work in someone’s home, or rent space for events and meetings. To register, detail your space and include some photos and the price for a day. Hosts can earn from £85 to £450 per day renting their place to individual photographers, for example, start-ups or larger companies.

6. House swap

Deciding to swap a home isn’t about making money, but it could save you a fortune on vacation costs. After all, with the cost of living rising, it can be hard to justify spending so much on breaks abroad.

The beach in Southwold, Suffolk, UK
You can swap a house with someone for a vacation near the sea. Photography: Kumar Sriskandan / Elmi

If you want a break away from home, you can simply swap your home for another instead of paying hundreds or thousands of pounds on holiday accommodation. A home switch can also be a good way to explore a new place if you work from home, giving you a break from your home office. If you have children and like to travel in peak periods, the savings can be especially significant.

You can arrange a casual exchange with family or friends, or ask those around you to see if anyone is looking to do the same. Alternatively, there are many home swap sites where you can list your home and search for housing. You can register with Guardian Home Exchange, for example, and choosing from three different plans to become a member. You can try the service for free for two weeks.



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