License article

Taking on a tenant

Need to tighten your belt after the recent Budget announcements? Then you may want to think about renting out that spare room.

Almost one in three homeowners would consider taking on a tenant to help make ends meet, according to a poll by PRDnationwide.

Fourteen per cent of the 450 respondents said they already had someone renting a room and a further 11 per cent said they would if they had the space.

PRDnationwide research director Aaron Maskrey said the results were greater than in previous polls, an unsurprising consequence of the current economy.

“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 2009 poll found one in five homeowners would consider taking on a tenant.