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Published 14.02.2015 | Author : admin | Category : How To Make More Money

Short letsThe annual allowable tax-free rental income under the Rent a Room scheme was increased in the Summer Budget from A?4,250 to A?7,200 and applies from April 2016.To qualify you must live in the property with the tenant for at least part of the time and it must be your a€?principal place of residencea€™. Revamp: Spare rooms can be nice little earnersWith the departure of your fledgling there may also be an empty spot on the driveway or in the garage. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.
If you live somewhere with a big student population or near a language school, why not consider letting a room just during term times a€“ around 35 weeks a year a€“ or for summer holiday courses?Student accommodation is increasing in costs and those youngsters like yours will be looking for ways to make the maintenance loan go further. The payment can be for room-only or it can include a contribution for meals, cleaning and laundry.

So as they enjoy life away from home it could be the right time to start planning things that have been put off while being full-time parent.What you do may depend on your budget but that empty nest could help fund the plans. It was only after I’d paid off the mortgage and wondered what to do next with my extra cash that I got enlightened, after going on a number of wealth creation courses.
There is no council tax to pay for student lodgers if you are a single parent.Contact your local college or university's housing officer and offer your services. Your listing is free, the sites offer advice on rate setting for space based on those in your locality and the service charge is 15 per cent paid for by the renter. There is no fee to advertise but the site adds its commission to your set room rate which is paid directly by the guest.

Airbnb operates in a similar way and has become a popular alternative source for short-term holiday bookers.
A person IS wealthy because they own assets of significant value that generate cash or can be sold for cash at any time.

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