Flatshare - Become a Student Landlord Yourself

Bibika By Bibika, 25th May 2012 | Follow this author | RSS Feed | Short URL http://nut.bz/1evix_cb/
Posted in Wikinut>Money>Property

An easy way in which you can make some money from your home, with your home is by renting out extra space. This can apply in a case where you happen to have a flat that might have a little extra space.

Flatshare can make you earn money and spend less for rent.

The economic conditions are still quite challenging and therefore any savings made can prove very useful. On top of this, it would prove quite helpful if you could earn a few extra dollars every month to help around with the bills. There are simple ways of saving and even making a little extra money and thus reducing your financial burdens. What is even better is the fact that this undertaking will not be too involving.

An easy way in which you can make some money from your home, with your home is by renting out extra space. This can apply in a case where you happen to have a flat that might have a little extra space. You could be a stay at home mum or even a college student looking to make a few extra dollars. It is really a simple concept and does not require any complex procedures in order to make it happen.

This particular concept can be approached from two angles. The first way will be in the case where you have rented a flat and have some extra habitable space. Renting a flat is usually a financially significant undertaking and it can be quite helpful if you could lower the amount of money you have to pay every month to the landlord by engaging into a flatshare. This extra space that you have, you can have arrangement with another person and have them occupy it and share the rent on an agreed and sensible ratio.

This is a very effective way of saving on the amount of rent you will be paying to the landlord. If you will be sharing everything on a 50/50 basis then you can also agree to split the rent on the same basis. You will become a landlord in a way. On top of making significant savings on the rent payment you will also have some company if you were living alone before. You should also agree on a model of splitting the bills and various costs in the house.

If you happen to own the flat, you are in an even better position. In this case if you have an extra room you can find someone who wants to rent it and have them pay you every month. This is a very good way of earning some extra cash.

In this sort of arrangement you will actually be a fully fledged landlord so to speak. Make sure that the extra room is habitable and sufficient. Renting out that extra room can actually bring in a significant amount of money more so in a case where the room is quite sizeable. Make sure that when you negotiate the rent, you have in mind the bills incurred as a result of that one extra entity.

Sharing your flat with someone else is a very good way of making significant savings or earning some extra cash. Try and ensure that the person you are either renting with or renting to pays up in good time. The person should also be someone you can co-exist with.

Tags

Flat, Flatshare, Money, Rent

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author avatar Bibika
Online Marketer on technology, insurance, business and online marketing topics

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Comments

author avatar Rose*
23rd Nov 2013 (#)

Just make sure you interview and vet prospective flatmates - after all you'll have to live with them!

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