Inviting a stranger to live in your home is a big undertaking and shouldn't be done lightly (even if they are helping you pay your mortgage). However, with a little preparation and some common sense, it can be a great way to make a little extra money. In this article we'll look at the things you should consider before taking in a lodger to make sure you (and your room) are fully prepared.
Can you really make money by renting out a room, your drive or using your property as a film location?
You might not have thought about your home as a money-spinner, but it could generate some extra revenue.
Making money from our home is something that many of us may dream about, but actually doing it can be another matter. The best known way of making money is by renting out a spare room and the government lets you earn over £4,000 a year tax free through its rent-a-room scheme (and there's more on renting out a room elsewhere in this section). But there are other ways that you can generate revenue from your property.
Around half a million people have had their council tax band reduced. Could you join them?
If you think you’re paying too much council tax, it may be because you’re in a higher band than you should be.
The average council tax bill works out at around £1,400 a year (or £116 a month). That’s for a band D property in England, but if your local authority charges higher council tax or you own a more expensive property, you could be paying a lot more. What many people don’t realise is that there may be a way of cutting your bill – by challenging the council tax band your property is in. Government figures show that in the last 12 years over half a million people have challenged their council tax band. But what does it involve?
