Things to Remember When Preparing Your Spare Room For a Lodger
With the credit crunch forcing us to make the most of what we've got, there has never been a better time to clean out the spare room and offer it out to prospective lodgers.
In spite of the stagnant state of the housing market, rentals are still in high demand, especially with the increase of business men who can't afford to sell-up and so are staying near the city mid-week instead.
So what should we remember when considering using the spare room for a second income? First off it is important to consider the basics required by a lodger, i.
e.
a bed to sleep in, somewhere to prepare food, and a bathroom.
Interestingly, the quality of the bed is one of the aspects that is most overlooked in rented accommodation, but if your lodger has any trouble sleeping they are unlikely to stay, so investing in a decent bed is certainly worth it.
Next, it is important to think about which of your utilities you are willing to share and what your prospective lodger will be expecting from the cost of their rent.
En-suite corner rooms may be a logical addition to the room if it has the space and you can afford it, and the offer of their own bathroom may mean you can charge a little more too.
Similarly, it might also be wise to supply basic cooking items, such as a toaster, kettle, or microwave, in order to keep your own kitchen a little less busy.
When thinking about these and other furnishings, space certainly becomes an issue.
A television is an item that is likely to be expected by a prospective lodger, and so a wall-mounted flat screen TV will not only offer them some extra quality viewing, but will also free up some possible surface or storage space - which could be better used by a mini-fridge.
When it comes to decoration, simple, neutral, and clean is usually the best bet, in order to give that almost hotel-like feel (which might be expected, especially if your tenant is only staying part of the week).
If it is likely that your lodger might study or work in business, installing Wi-Fi will also be an important consideration, and another selling point.
The final important point to check is whether your tenant will be covered by your home insurance or whether your policy needs to be changed, then you are in the position to work out the cost of rent with all factors included - and to get your name out there.
In spite of the stagnant state of the housing market, rentals are still in high demand, especially with the increase of business men who can't afford to sell-up and so are staying near the city mid-week instead.
So what should we remember when considering using the spare room for a second income? First off it is important to consider the basics required by a lodger, i.
e.
a bed to sleep in, somewhere to prepare food, and a bathroom.
Interestingly, the quality of the bed is one of the aspects that is most overlooked in rented accommodation, but if your lodger has any trouble sleeping they are unlikely to stay, so investing in a decent bed is certainly worth it.
Next, it is important to think about which of your utilities you are willing to share and what your prospective lodger will be expecting from the cost of their rent.
En-suite corner rooms may be a logical addition to the room if it has the space and you can afford it, and the offer of their own bathroom may mean you can charge a little more too.
Similarly, it might also be wise to supply basic cooking items, such as a toaster, kettle, or microwave, in order to keep your own kitchen a little less busy.
When thinking about these and other furnishings, space certainly becomes an issue.
A television is an item that is likely to be expected by a prospective lodger, and so a wall-mounted flat screen TV will not only offer them some extra quality viewing, but will also free up some possible surface or storage space - which could be better used by a mini-fridge.
When it comes to decoration, simple, neutral, and clean is usually the best bet, in order to give that almost hotel-like feel (which might be expected, especially if your tenant is only staying part of the week).
If it is likely that your lodger might study or work in business, installing Wi-Fi will also be an important consideration, and another selling point.
The final important point to check is whether your tenant will be covered by your home insurance or whether your policy needs to be changed, then you are in the position to work out the cost of rent with all factors included - and to get your name out there.
