One third of Aussie homeowners look to rent

By Andrew Batt: Almost one in three Australian homeowners would consider renting their spare room to help pay the mortgage.

A PRDnationwide poll, released yesterday, revealed 14 percent of respondents already had someone renting a room. A further 11 percent said they would if they had space.

PRDnationwide Research Director Aaron Maskrey said the results were not surprising given the tough economic times. "Renting out a spare room to generate extra cash could reduce the likelihood of suffering mortgage stress. 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."

Maskrey said the figures were greater than a similar poll conducted by PRDnationwide in August 2009 which found one in five homeowners would consider renting their spare room to help pay the mortgage.

"That was when the global recession had just begun to bite and people were perhaps under less pressure," he said.

The researcher said many homeowners bought properties with a granny flat or spare bedroom to give them the option of renting it out, though many had never actually done so.

"Finding a lodger has become easier, with a range of websites advertising for rooms to rent and flatmates."

He added that 44 percent of respondents would not consider renting a spare room.

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