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The rising cost of living makes renting out a room in your home a viable way to earn extra income. The UK government's Rent a Room scheme allows you to earn rental income tax-free up to a certain limit. This tutorial, presented by Kozan from Financial Madness, focuses on the differences between renting out a property as an investment and having lodgers in a home where you reside. The video aims to clarify how the Rent a Room scheme works and provides insights into effectively managing lodgers, distinguishing it from traditional landlord-tenant relationships.