Alternative ways to earn money from your property

Here at Propertypriceadvice.co.uk we help you get the most value from your property, but there are ways to make money from your home whilst you are still living in it:

 1. Rent out a parking space

This is becoming increasingly popular among homeowners, especially those that live near a major sporting stadium, concert venue or city centre.  Parkatmyhouse.co.uk is an excellent website that allows you not only to search for spaces but to list one of your spaces for free. The website covers the whole of the UK and you could earn an average of £11.00 a day just by letting someone park on your drive!

 2. Get a lodger

If you have grown up children that have flown the nest or you just have a spare room that you don’t get much use out of then it may be worth looking into getting a lodger to help pay the bills. You can earn up to £4,250 tax-free per year under the Government’s Rent-a-room scheme and you find suitable tenants/housemates on free websites such as SpareRoom.co.uk.

3. Turn any outbuildings into useful rental space

If you are lucky enough to own a property with stables or barns that are suitable for conversion then you could make money from renting them out. Any conversion will of course be subject to planning permission but money can be made from renting out the space as offices, for livery or as residential property. Contact your local planning authority for more information, details of your local planning office can be found on Planning Portal.

 4. Rent a room out to a holiday maker

If you don’t like the idea of a long-term lodger then you could always rent a room for a short term let.  The Olympics in London this summer is providing many South East residents with a fantastic rental opportunity as accommodation in the capital with properties achieving rent three times its normal value over the course of the games. Read our guide on Tips for Olympic Rentals.

 5.Swap homes for a cheap holiday

If you’ve seen the film ‘The Holiday’ with Cameron Diaz and Kate Winslet you will be familiar with the home exchange principal. Using a website such as Guardian Home Exchange you can list your property for a one off listing fee and search properties worldwide to swap with, all you then need to pay for is your flights, food and activities in your chosen destination.