Generate Income From Your Home: A Case Study

July 17, 2017

In mid-2016, Jemima and Andrew were saving up to redecorate their beautiful 3-bed West London family home.  After a conversation with Lavanda, they realised that a simple way to fund their project was by renting their house out over the summer.

  • Name: Jemima & Andrew Stramentov
  • Property location: 3-bed family house in Ladbroke Grove, London.
  • Occupation: Andrew is the Founder & CEO of Crateight, an innovative packaging solution for transporting fine art works.  Jemima’s a full-time mother to two boys aged 4 and 2.

As the CEO of a small business, Andrew’s line of work is enviably flexible.  By combining some time off with working remotely, the entire family could potentially take an extended summer holiday and spend 6 weeks away in Italy over July and August.  So Lavanda projected their earnings over the period and, after crunching the numbers, they decided it was too good an opportunity for the family to miss out on.

“Initially we were nervous about renting out our family home to people that we didn’t know – despite it making complete sense financially.  It’s irrational, but there’s just such strong emotional attachment!  All that vanished once we’d met with Fred (from Lavanda). This is a business that really knows what it’s doing. Fred addressed all the risks head-on and explained the incredibly solid procedures that are in place to vet the guests and look after them during their stay.  Most importantly, Lavanda’s interests are totally aligned with ours and we felt that we shared similar values. Andrew and I feel confident that Lavanda understands and caters for our concerns.  The absolute “cherry on the cake” was to return home at the end of August to find the house spotlessly clean and in better condition than when we left!”  

Jemima and Andrew earned over £8k (net after all fees), comfortably covering the cost of their new kitchen – which in turn added significant value to their home.