3 Simple Reasons to support Raise the Roof
There’s a whole argument behind why we believe the amount of tax free income homeowners are able to earn by renting out a spare room should go up – if you want to read it visit the Raise the Roof Campaign website. However, there are 3 simple reasons why the campaign is worth supporting:
- The threshold hasn’t been changed since 1997/8 – projected rent increases between then and 2009/10 stand at 113%
- 60% of rooms in the UK are rented for more than £4,250 a year (the current threshold) – in London the figure is 91%
- 78% of UK homeowners could cover the average mortgage arrears by renting out a spare room
The Rent a Room Scheme was originally set up to encourage people to rent out a spare room and it’s a great idea. The only trouble is that the benefit it offers has become lessened in value by increased rents over the past 12 years.
Please take a moment to sign our petition and help homeowners through the recession.