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How To Afford Your London Rent

Renting in London is very expensive, and people often struggle to make ends meet. For this reason, people tend to avoid living in London but often the industry that you work in can mean that London is the best place for you.

The good news is that you don’t have to rely on your job for your sole source of income. Renting out your spare room can be a great way to be able to make your rent and maybe even get to pay less each month! We are going to look at some of the ways that you can go about renting your spare room so keep reading to find out more!

Private Renting

If you are thinking about renting your spare room out, the most obvious option may be to rent it out privately. This will involve you advertising your room online or with a company that can help you. If you want to do this, you’ll need to find out what sorts of things you’ll need to offer with the room such as access to the bathroom and the kitchen. These are very important and if you aren’t willing to share these facilities with your new tenant then you might need to consider another option.

Private renting can be great because of the steady flow of extra money coming in. Although you might need to sacrifice your space, you will be able to pay your rent and half of the bills at the same time! Before you choose someone to come and live in your home, you’ll need to set some ground rules. There’s nothing worse than letting someone move in and then finding out that they have a very loud hobby that they like to do at 2 in the morning. This is why you should explain your terms and conditions before letting them stay and also make sure to do some background checks before you agree to anything.

Airbnb

If the idea of letting someone come and stay with you for a long period of time does not appeal to you then you could consider using Airbnb for renting. This service is great as it means that you can choose how long your room is available for, normally for short spaces of time and only agree to provide certain things.

Another great thing about Airbnb is that if you don’t have time to be constantly letting new guests in or are unsure about how much to charge, you can take advantage of Airbnb Management Services London. This service will help you get as many guests as you need by providing cleaning services, professional photography and other great features like 24/7 key exchange. If you are interested in hosting with Airbnb, then you should definitely consider using this service.

Our Verdict

We think that both private renting and Airbnb are great options for making some extra cash for your rent. Make sure to choose the right option for you and get saving now!

Image: Pixabay

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