'Many homeowners' renting spare rooms

Posted: 23 Jun 2011 11:56:57 GMT

'Rent-a-room' entrepreneurs are springing up across the UK, it has been found.

A high number of homeowners in the UK are looking to rent out their spare rooms to potential lodgers, new research has shown.

Carried out by Santander Mortgages, the study revealed one-in-ten householders currently has a tenant in their home.

According to the investigation, these 'rent-a-room' entrepreneurs are collecting a combined £3.9 billion a year in payments.

This averages out at £182 per month, suggesting a potential £52 billion of such income stands to be made across the UK.

Phil Cliff, director of Santander Mortgages, said: "It's interesting to see that so many Brits are weathering the economic storm and showing such entrepreneurial spirit by renting out spare rooms in their home."

However, the research also found that 52 per cent of Brits not willing to give up a room in their house do not like the thought of having a stranger living in their abode.

The findings follow a recent study from HSBC that suggested the increasing popularity of renting is resulting in neighbours who are less friendly to one another than would be the case if the properties had been bought.
 

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