With money so tight at the moment, it is hardly surprising that large numbers of people are waking up to the idea of letting their spare room for one or two nights per week in order to make a little extra cash.
You might not have considered the idea, but if you are lucky enough to have a spare room that is not full of junk or in-laws, it makes financial sense to take advantage of the growing trend for short term rentals aimed at travellers.
As the cost of holidays soar thanks to fuel taxes and associated excesses, an increasing number of travellers are opting for private accommodation instead of fancy hotels (me included). Unsurprisingly, this is driving up demand for holiday homes and short term holiday lets.
So if you have a decent sized spare room, or you are open to giving up your home as a holiday let for a week or two per year, do the math and see how much extra money you can make. With an average room rate of £43 per night, letting a room for up to two nights per week could potentially earn you an extra £4,500 per year, which is not to be sniffed at. And if you live in London or Edinburgh, this rate is even higher.
Of course, if you happen to live on a rough estate somewhere, you might have a problem attracting visitors to your home—unless their SatNav has guided them seriously off the beaten track or they fancy a holiday with a difference!
