If you’re interested in benefiting from the income that renting out your spare bedroom can bring, but feel a little nervous about the reality of living with a stranger, then this blog post is for you. 

In this blog, we'll unpack the concerns you might have about renting out your room to someone you don’t know, as well as look at the added benefits you are entitled to. 

Let’s start by taking a look at what you stand to gain from renting out that spare bedroom.

Passive Income

You can turn your spare room into a nice little side earner. By renting it out you are turning an empty space into a passive income. 

You can depend on receiving weekly rent from your guest, without having to do any work for it. 

This extra income can be put to good use by helping you pay the mortgage, pay some bills or even put aside some money to save for something you really want. 

Tax Free Income 

By choosing to rent out a room in your home you can qualify for the rent-a-room relief scheme in Ireland. 

Under this scheme, you are entitled to earn up to €14k per year in rental income, tax free. 

This is a fantastic initiative that our hosts take advantage of.

You can learn more about how it can work for you in this blog post here. 

Enjoyable Company 

It’s normal to worry that the person you end up renting to will be hard to live with. 

But in our experience, it’s actually the opposite that tends to happen! 

Our hosts will often reach out to us and share stories of how they got on so well with their guests! A lot of our hosts have even maintained contact with their guests after they have moved on. You can read some of this feedback here.

Meet New and Interesting People 

Our guests are medium-term renters (from one month up to 18 months). 

This means that our hosts get to meet lots of interesting people over the course of renting out their room. 

Our guests can be Irish interns, professionals or a student visiting from abroad for an Erasmus year. 

As you can see, renting out your room can truly be a rewarding experience. 

If you’ve never rented out your spare room before, you will naturally have some questions and even some doubts and concerns. 

We’ve been helping hosts rent out their spare rooms to our guests since 2014, so let’s look at the other side of renting together and help put your mind at ease. 

Having A Stranger In Your Home

It’s true that you don’t yet know the person who will be renting out your spare room. So certain precautions must be taken to ensure you find the right person to rent out your room to. 

That’s why we place an emphasis on vetting every guest we place with our hosts. 

Guest vetting is an important part of what we do and it allows us to place the right guest with the right host and ensure that living together will be an easy and pleasant experience.

Cleaning and Other Rules

If you’re worried about your guest making too much noise late at night or making a mess in your kitchen, we have you covered. 

We have carefully designed a set of House Rules that we give to our hosts and to each guest they rent to. These House Rules are designed to eliminate these kinds of issues and create a harmonious living environment for both parties. 

If you’d like to see what that covers, you can read all about our House Rules here.
 

Not A Bed and Breakfast

If you have hesitated to rent out your spare room because you don’t want to have to cook and clean for your guest, then we have good news!

All our guests are self-sufficient, meaning that they are old enough and responsible enough to look after their own needs. 

They are responsible for cooking their own meals and keeping both common spaces and their own room clean and tidy.

What If Something Unforeseen Happens?

That’s where our support comes in. As a Hosting Power Host, you have our support from the moment you sign up. 
If something happens with your guest and you need assistance you can reach out to our Host team at any time and they will be happy to help you. 

Still Unsure Of The Commitment? 

No worries! The good news is that you are always in control of who you rent out to and how long for.
Before you accept any booking you will receive the full details of that guest and of their booking dates too. 

In Summary

Renting out your spare room can be a really rewarding experience, both financially and in terms of the experience you have. 

We understand the concerns that come with the idea of welcoming a stranger into your home and that’s why we have gone to great lengths to ensure that when you do, you still feel at home in your house.

We do this by making sure your guest is vetted, and that you have the professional documents (House Rules, Rent Payment Form, Deposit Collection Form) you need and professional support to make it not only easier but safer and more enjoyable too.

Interested in becoming a Hosting Power host?