Ensure you never miss an issue of the
real estate business bulletin
Homeowners rent out rooms to pay mortgage

Homeowners rent out rooms to pay mortgage

by Reporter 0 comments

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.

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Homeowners rent out rooms to pay mortgage
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?