Renting out your spare room on an ad hoc basis could net you thousands of extra pounds a year.

With an average going rate of £43 per night, a growing number of homeowners are taking in short-stay tenants, according to research by travel accommodation company, WhereToSleep.co.uk.

The survey found one in five tourists or travellers prefer private accommodation to hotels and one in eight homeowners would be willing to let out a spare room as a short-term let.

Homeowners in Oxford could be well-placed to cash in on the trend because of the large numbers of academics who visit the city.

Web-based agencies that help to bring people with spare rooms together with those looking for somewhere to stay just for a night or two, include Crashpadders.com and WhereToSleep.co.uk Radek Dobrolecki, of the website WhereToSleep.co.uk, said: “The cost of living is rising at twice the rate of wages, and savvy homeowners are considering any ways to supplement their pay cheque and meet the rising cost of living.

“A growing number are taking advantage of financial benefits of letting a room — without the inconvenience of a permanent lodger.”

At £43 per night, it adds up to £2,221 per year if a room is let once a week, or £4,441 for two nights.

Mr Dobrolecki added: “Letting out a room is a quick and easy way to cover the essential and rising costs of owning a home.

“But unlike when hosting a lodger, homeowners do not face the prospect of someone else in their home throughout the week. It’s a flexible and less imposing arrangement.”

Under the Government’s HMRC Rent a Room Scheme, short lettings hosts can make up to £4,250 tax free each year.

For more information, visit WhereToSleep.co.uk or Crashpadders.com