Opinion
How this family took on a boarder and saved $18,200 in a year
Nicole Pedersen-McKinnon
Money contributorBeauty business owner Brooke Byrnes lives with her partner and their two little girls, aged seven and three, in a three-bedroom house on Queensland’s Sunshine Coast.
They are renting while building their dream home and have been in the same property for four years, where the rent is slowly creeping upwards.
Beauty business owner Brooke Byrnes made the choice to take in a boarder, adding thousands of dollars to her savings.Credit:
“The rent increase hasn’t been as bad as for some, but it started out at $700 and now it’s $850 – last lease it jumped up $100,” she says.
So, last year they did something you might not expect from a) renters and b) a family: “We took on a roommate.”
“It was to help with our bills and, with a very young child, we weren’t using the master bedroom in our house, so it just made sense to utilise that space,” Byrnes says.
So, how is it going? “It’s been fabulous,” she says.
The couple charges a flat fee of $350 a week, inclusive of bills, for the bedroom with ensuite that is on a different floor from their rooms.
“They’ve got their own lounge room down there, and we just share the kitchen and the laundry. So, yeah, it’s like upstairs downstairs,” she says.
The single professional woman has two shelves in the fridge and some cupboard and pantry space of her own. Byrnes says the family and the flatmate don’t cross paths much but when they do it is “absolutely fine”.
“If we are all in the kitchen at the same time, it’s not been a hassle,” Byrnes says.
“I guess the only thing is that I feel I need to keep the girls quieter, but that’s a small price to pay and she’s never complained.”
Getting that respectful flatmate match is key, though, says Byrnes. “I needed it to be the right fit, and she was the right fit,” she says.
Like all match-making services – from dating to food delivery – there are websites to help. The family used flatmates.com.au and roommates.com.au.
“You’re able to put about yourself or about what you’re looking for in terms of age groups and there are lots of different sections for criteria you can select,” Byrnes says.
Her top tip for people who are looking to rent a room is to “set in stone’ exactly what you’re looking for in a person to move in, and explain that in your biography.
The family also ensures they add new tenants to the lease.
“If you’re renting your own house, you know, that’s fine, but if you’re in a rental situation, the owners need to know who’s in the property, and it gives everyone that responsibility for the property,” she says.
“It’s clear this is a straight investment for someone, and the real estate agent’s been really good and vets the new tenant as well – they make them fill out the usual application form and make sure that they’re all good, and then they put them on the lease.”
It’s easy to take them off the lease, too – just another form.
“We’ve been able to set the pricing given that we are the principal tenants,” Byrnes adds.
So, how much have Byrnes and her family saved?
“It’s eased the financial pressure a lot, especially with the price of groceries and everything going up. It just makes sense if you’ve got the space.”
Indeed, at $350 a week, over a year they have gained $18,200.
Nicole Pedersen-McKinnon is the author of How to Get Mortgage-Free Like Me. Follow Nicole on Facebook, Twitter or Instagram.
- Advice given in this article is general in nature and is not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions.
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