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How Much Can I Rent My Spare Room For And Other Key Questions

How much can I rent my spare room for is probably one of numerous questions you have if you are thinking about renting a room out in your home. With that in mind, we aim to answer some of the most common queries below.

First things first, how much should I charge to rent a room out? The best thing to do is a bit of research regarding the area so that you can determine how much similar rooms are being rented out for within the location. Think about the size of the room you are offering, as well as the location, transport links and any amenities, for example, if you have an on-suite bathroom, you can charge a bit more. Do I have to pay tax if I rent my spare room out? This is actually up to you, depending on the amount you profit from the room. There is a Rent a Room Scheme in place in the UK, which means you can earn up to £7,500 tax-free per year. This scheme is optional, however, and you may prefer to pay tax so that you can claim expenses. You need to work out what is going to be more cost effective for you. How do I get started? You need to choose a letting website to post an advert for your spare room. Write a compelling yet accurate description, and use high-quality photographs.

Now you know how much can I rent my spare room for, if you are ready to get started with finding the perfect tenant, Bellrooms Ltd can assist. You can post your listing on our website, and you can do so free of charge as part of our limited time offer. Simply head to https://www.bellrooms.com/, give us a call on 01483 698 677, or send an email to [email protected] Ltd.