Bring home the money

Experts at Moneywise.co.uk share their simple tips on turning your home into a gold mine…

GET A LODGER If you’ve got a spare room, rent it out. Under the government’s ‘Rent a Room’ scheme, you can earn up to £4,250 a year tax-free from letting out a room in your home. That means that as long as you aren’t charging more than £354 a month in rent, you can take in a lodger without worrying about filling in any tax forms.

TOURIST ACCOMMODATION If the idea of a stranger living in your home doesn’t really appeal to you, you could consider letting out your spare room to tourists. You can charge for short-term lets and only rent out the room when it suits you, ideal if you have a busy schedule. You can advertise your spare room on www.wimdu.co.uk, where you can specify who can stay and set the price. RENT OUT YOUR DRIVE Depending on where you live, there’s plenty of money to be made from renting out your driveway. If you live near an airport, this is a great opportunity, as many people would prefer to park on your drive than pay for airport parking. Go to www.parkatmyhouse.com to

advertise.

TURN YOUR HOME INTO A SET There’s big money to be made from opening your home up to film crews. It can pay anything from £500 to thousands of pounds per day, especially if you have a more quirky home. You can register your property through www.amazingspace.co.uk or www.filmlocations.co.uk. Your

home will then be placed on a listing page, and if used, you’ll get around 80 percent of the commission.

SELL OLD MOBILES Let’s face it, all those mobile phones you keep in a drawer for an emergency are never going to come in handy, are they? Keep one, just in case you do lose yours, but sell the rest. An old iphone 3 can make you up to £77, so imagine what a whole drawer of phones would make you. You can sell them through websites like www.envirofone.com or www.mazumamobile.com.

CLEAR OUT YOUR WARDROBE Not only will a good clear out free up some space in your bedroom, but it can also be quite profitable. Clear out everything you no longer wear, then split the clothes into two piles – one for the charity shop and one for ebay. You won’t make a fortune – think up to £20 for a good dress – but every little helps.

SELL OLD BABY ITEMS

If your babies are now older, and you’re not planning on adding to your brood, clear some space and make some cash

by selling the baby clothes and toys. Items like these are always high in demand on ebay as new parents look to cut their costs.