Australian Property News
Renting a room becomes an attractive option
Posted on Thursday, July 02 2009 at 1:54 PM
Almost 50 per cent of homeowners are open to the option of renting out a room to make repayments more affordable, according to a poll released today by PRDnationwide.
Of the respondents, 20 per cent said they would consider having someone rent their spare room to help pay the mortgage and they'd "like to investigate the option".
Fourteen per cent already had someone renting their room and a further 15 per cent would consider the option but don’t have the space required.
PRDnationwide research director Jonathan Rivera says many homeowners purchase properties with a granny flat or spare bedroom with the foresight of potentially renting it out, though they’ve never actually proceeded with the plan.
"Making unused space in your home earn its keep is an option that more and more people are investigating," Rivera says.
"Having someone contributing $100 a week to rent a spare room could be the difference of struggling with bills or not."
Fifty-one per cent of respondents said they wouldn't consider renting out a spare room.
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