Skip to content

Five ways to make money from your home

Five Ways To Make Money From Your Home

Forget cash in the attic – there’s money in every brick, stone or tile of your house, and even in the garden and garage. Katherine Sorrell explains how to make pounds from your property.

One in ten homeowners now earns extra cash by letting a spare room to a lodger, according to Santander. You can also rent to commuters, Mondays to Fridays.

spare room

How much can I make? Average weekly rent from a lodger is around £90, says

Pros: You can make up to £4,250 a year tax-free under the Government’s Rent a Room scheme. A good lodger can be a friend, share the housework and keep an eye on the place when you’re away.

Cons: A bad lodger can be a nightmare – in your space, may not pay the rent and hard to remove. Home insurance may go up.

Need to know: Obtain references, and have a written agreement about rent, bills and how the house is shared. is a good source of information. You may need permission from your mortgage lender and, if you have one, your leaseholder. Tenants should obtain permission to rent a spare room from the landlord.

Worth considering if you have a spare room or two and live in a desirable area.

How much can I make? Depends on location, number of rooms, quality of accommodation and food. About £35 per room per night is a minimum.

Pros: Meet interesting people. Open when it suits you.

Cons: Early starts and lots of cooking and cleaning. Upfront costs to convert your home. Then there’s marketing, insurance and book-keeping.

Need to know: You may need planning permission, or alterations to meet building regulations. Tell your mortgage lender. Don’t be overly optimistic: start by aiming for a 35-40% occupancy rate.

Your home could be a star. All sorts of properties are used, from council flats to country estates.


How much can I make? From about £500 per day for stills photography to £2,500 for a big-budget movie.

Pros: Interesting and excellent money.

Cons: Not a reliable source of income. Could be lots of disruption, and neighbours may object.

Need to know: Most demand is for large houses with good parking within the M25. Signing up with an agency is free, but you’ll pay a commission.

Rent your drive or garage to a commuter people attending the theatre or a sports event. Advertise in the local paper or online.

How much can I make? You could earn more than £200 a month, depending on your proximity to offices, train/tube stations, stadiums and so on, and what local parking and restrictions there are.

Pros: Extra money for very little effort.

Cons: Getting rid of someone who stops paying but continues to park could be tricky.

Need to know: You can’t rent out a resident permit holder space, and tenants with a parking space can’t rent it out. Draw up a simple contract, tell your home insurer, and check that the parker has insurance in case he damages your property while behind the wheel.

You could move out of your property (live with family or friends, or rent somewhere cheap) and turn it into a holiday home in the summer. If you live near a venue for sporting events or festivals you could rent it out to visitors. Or you could even rent it to long-term tenants.

How much can I make? Depends on the size and location of your house: a two-bed Cornish cottage, for example, should make more than £500 a week in the summer.

Pros: Good money.

Cons: Cost of decorating and maintenance. Lots of organisation, from clearing out the house and marketing, to dealing with changeovers.

Need to know: Obtain public liability insurance and comply with fire regulations (Visit England’s Pink Book is helpful, at Tell your insurer and declare your income to the taxman.

Back To Top