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 13
Feb

Rent out extra rooms for cash

Liezl Hesketh in Student accommodation 

rent-out-extra-rooms-for-cashThe price of living has gone up significantly! Keeping up with monthly expenses is challenging. Sometimes having a little bit more cash makes all the difference – be it buying groceries towards the end of the month, saving for retirement or treating your family to a movie night. We can all agree that earning a few extra thousand a year would be a great relief!  If you rent out extra rooms for cash, it will help you stay afloat financially.

On the 4th of February 2014, petrol price went up by 39 cents a litre to R13.96 (Unleaded 95) for inland customers and R13.96 near the coast. The Rand has weakened drastically to an average of R11 to the US Dollar and R18 to the pound. Buying in British Pound Sterling would now cost almost double than what it cost four years ago!

 

“Consumers will have to be very careful of how they apply their money. Although consumers will receive their salary increases in the beginning of the year but it will not last the whole year and prices will keep on increasing throughout the year.”

Citi Reseach has also predicted that interests rates could rise further in 2014. This, together with e-tolls in Gauteng charging per gantry passed through, the ordinary person’s expenses will sky-rocket!

Weaker Rand affecting ordinary citizens

The problem with the weak Rand is not only that international business find it risky to invest in South Africa, but that we increasingly have to import products while gaining very little from traditional export products. This drives our economy into a desperate downward spiral where money is going out but not coming in. This makes for an even weaker economy that affects ordinary citizens directly. This means you!

The question for South African citizens is not how we can change this problem on a national scale, but how we can create jobs or income on a personal level to better the economy and circulate money nationally.

A very good way of making ends meet is getting paid to share your assets. The global economy has shifted from an “owning” to a “sharing economy”. This functions on the principle of sharing your underutilized resources and assets such as extra rooms on your property. This sharing phenomenon is evident when one looks at the following websites where anything from power tools, skills to movies are shared.

You can help solve commuter and student accommodation problems by opting to rent out spare rooms for extra cash. This does not mean inviting a stranger into your home. There are websites such as TheRoomLink that connects renters with property owners through profile-based matches. You can specify your conditions and rent flexibly.

Average room prices for renting out extra and spare rooms:

 

R3000 per single room x 12 = R36 000 p.a.

R2000 per shared room x 2 x 12 = R48 000 p.a.

R3500 for a granny flat x 12 = R42 000 p.a.

R5000 for luxury accommodation x 12 = R60 000 p.a.

Rent out extra rooms for cash  to solve cash flow problems especially in the turbulent South African economy of 2014! I bet your annual budget will breathe a sigh of relief when it sees the good news!

See how renting out extra rooms can work for you:  Try it today!