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Renting out a spare room in your property can be a good way to earn extra money, especially with the government's rent a room scheme allowing tax-free rental income up to a certain limit. This type of renting involves getting lodgers to move in, not tenants. It is different from buying a property solely for renting out. Learn more about how having a lodger and the rent a room scheme works in this video tutorial by Kozan from Financial Madness.