27 September 2010

Over 210,000 UK households have turned to taking in lodgers to help cope with the financial strain of buying/owning a house. A report, by insurance firm LV= has shown that over the last three years the number of lodgers has risen by 15% - to numbers not seen since the 1960s.

The type of homeowner taking in a lodger has also evolved, with more young couples taking in lodgers when compared with ten years ago. A decade ago it tended to be high-income individuals that use a lodger to supplement the cost of living.

LV= Managing Director, John O'Roarke, said that renting a room can be a good way for new homeowners to make up some of the expense of buying a house. He did add: "Homeowners do need to be aware of their rights and responsibilities as a lodger-lord."

 

Source: Aboutproperty

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