Sometimes people find themselves in a situation where they need more money. When this happens, there is of course one option of getting another, better paying, job or getting a second job – this would be using your time to make the extra money. But there is also another option, which involves using your house to make the extra money, and it’s called homestay.
Simply put, homestay is allowing a visiting student or a lecturer to live in your home in exchange for a financial compensation. The student wouldn’t be paying you directly; instead you would be dealing with a company or organization that handles their placement. There are organizations that are looking for host families to accommodate international students. If you are living reasonably close to a university (about 30 minutes away) and have a spare room that you are willing to offer with some basic furniture, your chances of being approved as a host are not bad.
You can expect to be making between $200 to $300 a week, and the best part is – as long as you don’t host more than 1-2 students, you don’t have to pay tax on that income, it doesn’t need to be declared as a taxable income. In exchange for that money you will be expected to provide the student with a room that has a bed, a desk, a chair, a study-light – some basic furniture that allows them to rest and study. Food is also to be provided, and it will depend on your agreement with the placement company how many meals a day you will provide. Some companies will ask you for a police check certificate, and for a home, contents and public liability insurance, these requirements vary depending on who you sign with.
In case you’re wondering what sorts of expenses are associated with this arrangement, the answer is – the extra electricity, gas, water, food and internet usage. If you include the student in family meals, that would be a good alternative to cooking a separate meal for them, and would help you save some time and money. The students are supposed to pay for their own phone calls, so this is of no concern to you.
How will this affect your daily life? The general idea is that you will be hosting a person who is most likely to speak limited English and have a different mentality to yours. Your job will be to make them welcome in your home, explain where their room is, where the bathroom is, meal times, what areas are off limits, etc. They will also need to know how to get from your house to their university / college and back, how to buy tickets and where the closest supermarket is – but the placement company will brief you on everything.
The first step to become a host is to find a placement company / organization and apply. The ones I know of are Australian Homestay Network, Oz Homestay, Nacel Australia and Talkabout Tours, but surely there are more, all you need to do is Google them. Also you could ring the university or college you live close to, and ask whether they are looking for host families for exchange students.
And finally – if you have already tried homestay, I would love to hear about your experience. Leave a comment on this article and share whether or not it was worth it for you, and why.
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This is useful information. Thanks for sharing.
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More power to you and your blog!
Wow, I never new that, much appreciated.
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