Homeowners rent out rooms to pay mortgage

Homeowners rent out rooms to pay mortgage

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Staff Reporter

Almost one in three homeowners would consider renting their spare room to help pay the mortgage, a poll by PRDnationwide has revealed.

According to the research, of the 450 respondents, 14 per cent said they already had someone renting a room and a further 11 per cent said they would if they had space.

PRDnationwide research director Aaron Maskrey said the results were not surprising given the tough economic times.

“Renting out a spare room to generate extra cash could reduce the likelihood of suffering mortgage stress,” he said.

“Getting onto the property ladder is increasingly difficult for thousands of first-time buyers in Australia, and increasingly, homeowners are making unused space earn its keep.”

Mr Maskrey said the figures were greater than a similar poll conducted by PRDnationwide in August 2009, which found one in five homeowners would consider renting their spare room to help pay the mortgage.

“That was when the global recession had just begun to bite and people were perhaps under less pressure,” he said.

The researcher said many homeowners bought properties with a granny flat or spare bedroom to give them the option of renting it out, though many had never actually done so.

“Finding a lodger has become easier, with a range of websites advertising for rooms to rent and flatmates,” Mr Maskrey said.

Staff Reporter

Almost one in three homeowners would consider renting their spare room to help pay the mortgage, a poll by PRDnationwide has revealed.

According to the research, of the 450 respondents, 14 per cent said they already had someone renting a room and a further 11 per cent said they would if they had space.

PRDnationwide research director Aaron Maskrey said the results were not surprising given the tough economic times.

“Renting out a spare room to generate extra cash could reduce the likelihood of suffering mortgage stress,” he said.

“Getting onto the property ladder is increasingly difficult for thousands of first-time buyers in Australia, and increasingly, homeowners are making unused space earn its keep.”

Mr Maskrey said the figures were greater than a similar poll conducted by PRDnationwide in August 2009, which found one in five homeowners would consider renting their spare room to help pay the mortgage.

“That was when the global recession had just begun to bite and people were perhaps under less pressure,” he said.

The researcher said many homeowners bought properties with a granny flat or spare bedroom to give them the option of renting it out, though many had never actually done so.

“Finding a lodger has become easier, with a range of websites advertising for rooms to rent and flatmates,” Mr Maskrey said.

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