Renting Out a Room in London on a Monday to Friday Basis: What to Consider
If you’re a homeowner in London and thinking about letting out a room on a Monday to Friday basis for the first time, you’re entering an exciting venture that offers both financial and social benefits. Whether you’re looking to earn some extra income, take advantage of tax breaks by using the UK Governments Rent a Room Scheme and earning up to £7,500 p.a. Tax Free, or simply make use of that spare room, Monday to Friday lets—also known as digs—could be the perfect solution.
However, before you advertise your room, there are several key factors to consider. In this guide, we’ll walk you through the things to think about when preparing to rent out your room, how digs work, and why GetDigs.co.uk is the best platform for connecting homeowners with weekday lodgers.
What to Think About Before Advertising Your Room
- What type of lodger do you want?
The first step in preparing to rent out your room is deciding what type of lodger will best suit your household. Think about your preferences and lifestyle:
- Male or Female?: Some homeowners feel more comfortable renting to someone of the same gender, while others are open to either. Consider what works best for you.
- Professional or Student?: Students may need a quiet environment for studying and have term-time commitments, while professionals might require space to work from home during the week. Both options are viable, but think about which type of lodger aligns with your home environment.
- Smoker or Non-Smoker?: If you’re a non-smoker, this can be a big factor in choosing a lodger. Make your preferences clear in the advertisement to avoid any misunderstandings.
- Pets or No Pets?: If you have pets in your home, it’s important to mention this in your listing. Some lodgers may have allergies or preferences when it comes to animals.
- Will the lodger have access to the kitchen?
Decide whether the lodger will have access to your kitchen and if you’ll be providing meals. Many homeowners prefer to offer a self-catering option, where the lodger has access to cooking facilities and prepares their own food. However, some offer a meal package for an additional fee, which can be a draw for busy professionals who don’t want the hassle of cooking after a long workday. However we notice that a lot of colleges and workplaces have high quality canteens and most lodgers get their meals there.
- What about parking and other amenities?
Parking can be a valuable asset in London. If you have a parking space, consider whether you’re willing to let the lodger use it, and if so, factor this into the rent. You should also think about access to communal spaces like the living room, garden, and laundry facilities. Will the lodger be able to use these areas, or will their access be limited to their own room?
- How much to charge for weekday room rental in London?
Pricing your room is an important decision. London is known for its high rental prices, but Monday to Friday lets typically offer a more affordable alternative. Depending on the location, the quality of the room, and the amenities provided, you can expect to charge anywhere from £100 to £250 per week.
It’s a good idea to research local rental prices for similar Monday to Friday lets in your area to set a competitive rate.
It is worth noting that Getdigs.co.uk have the above valuable prompts as the homeowner fills in their advertisement.
What Are Digs and How Do They Work?
Digs are a form of short-term accommodation, typically rented out from Monday to Friday, which gives both lodger and homeowner the weekend to themselves. This arrangement is popular among professionals who work in the city during the week and return home to their families on weekends, as well as students who commute from nearby towns.
For homeowners, digs are an excellent way to earn extra income without committing to a full-time lodger. The Monday to Friday model means less wear and tear on your home and provides a clear structure for both parties.
Preparing Your Home for a Lodger
To attract the right lodger, it’s important to prepare your home. A few simple steps can make your space feel welcoming and comfortable:
- Declutter and clean: Ensure the room is tidy and free from personal items. A clean, clutter-free space is more inviting.
- Furnish appropriately: The room should include a comfortable bed, storage, and a desk if the lodger needs to work or study.
- Set up amenities: Wi-Fi is a must, as well as fresh bedding, towels, and possibly a small television. These added touches can make a huge difference in how attractive your room is to potential lodgers.
- Discuss house rules: It’s crucial to establish house rules regarding noise levels, guests, and shared spaces upfront to avoid any potential misunderstandings.
Why GetDigs.co.uk is the Best Platform for Monday to Friday Lets
GetDigs.co.uk is the number one platform in the UK for connecting homeowners with lodgers seeking Monday to Friday lets. Specializing in weekday rentals, GetDigs.co.uk provides an easy-to-use platform where you can list your room and find suitable lodgers quickly and easily.
Whether you’re a professional homeowner or someone who’s just starting out, GetDigs.co.uk takes the guesswork out of renting, offering a user-friendly interface and access to a large audience of potential lodgers looking for weekday digs.
Why Digs Are the New Commonsense Model for Room Rentals
The Monday to Friday digs model is becoming increasingly popular because of its flexibility and affordability. Lodgers benefit from reduced costs by only paying for accommodation during the week, while homeowners retain the privacy of their homes on weekends. It’s a win-win solution that addresses the rising cost of living in cities like London.
With the UK Government’s Rent-a-Room scheme allowing homeowners to earn up to £7,500 tax-free per year by renting out a room, digs offer a commonsense approach to room rentals. Not only do they provide an additional source of income, but they also help ease the housing shortage by offering short-term accommodation in high-demand areas.
In conclusion, if you’re a homeowner in London, renting out a room on a Monday to Friday basis is a practical, profitable, and flexible way to make the most of your spare room. By following the steps outlined here and using GetDigs.co.uk, you’ll be well on your way to finding the perfect lodger.
For further information please contact admin@getdigs.co.uk