If you live in an area with a University, or where young people come to learn English, could you earn some extra cash? Hosting foreign students is often suggested as a no hassle way of maximising income. But is it really that easy? Aren’t there lots of hoops to jump through in terms of checking and verification?
Hosting Foreign University Students
There is one no-hassle option when it comes to providing accommodation for students. Most university students, wherever they come from, are over the age of 18. Therefore they are legally classed as adults. Most agencies placing students with host families will do a basic DBS check to verify current criminal records. They are not allowed to do more detailed checks by law. What you will be asked to provide will depend on the arrangement. In most cases, students will need their own room, and access to the family bathroom and kitchen. Many host families agree to provide breakfast and dinner too, for an additional fee. Most students only look for accommodation during term times.
Foreign Language Learners
Hosting young people who have come to the UK to study English is a different scenario. Many teenagers from all over the world come to the UK for a few weeks or a month to improve their language skills. If you live in a city such as Edinburgh, Oxford or London with lots of language schools, check their websites for details.
If the students are under the age of 18, then they are legally classed as children. That means that everyone in the home over the age of 18 will need to
apply for an enhanced DBS check. The agency or language school will help you through this process. One of the benefits in this arrangement is that you usually have one point of contact to help you with any problems.
Hosting teenagers means a different relationship to older students. Firstly, the teens will probably be in your home for a month maximum. There’s less opportunity to get to know them. Also, their language skills may not be great, and communication could be difficult. Host families are usually asked to provide a private room, breakfast and dinner. They may also be asked to provide a packed lunch each day. Most schools prefer homes which are close to town centres, or with good public transport links for students to get into town each morning.
Finances and Tax
Obviously the main reason for taking students into your home is for financial reward. For short term arrangements, fees are usually calculated per night. The going rate is usually between £15 and £20. For longer term arrangements, the fees are usually per month.
From a tax point of view, the government’s “Rent A Room” scheme allows families to earn up to £7,500 per year by renting out rooms to students without paying tax. If you are only hosting students during term time, or foreign language students during the summer, you’re unlikely to reach this threshold. You will however still have to register as self-employed and complete a tax return. If your tax situation is complicated, then it’s best to get advice from an accountant or tax expert before signing on the dotted line.
