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Is the Cost of Living Crisis Contributing to the Lodging Crisis? Nick Millican Weighs In

According to real estate expert Nick Millican, renting a home in a large city is something that many people have to do. For those that are not able to purchase a home, renting is often the only option that they have in terms of housing. 

Now, for those larger cities like London, there is now a housing crisis that makes it harder than ever to find rental spaces. So, Nick Millican asks, what are some of the options for those who are looking for homes? For some, renting out rooms in their home is an option that is beneficial for both parties. 

It allows the homeowner to make a bit of money on the side, and it helps those that might be struggling to find lodging find a safe place to rent. According to Nick Milican, the main reason for the current housing crisis is the cost of living crisis. It now costs more to simply live and to do so comfortably, than it ever did before. 

Many are working to crunch the numbers and ensure that they are able to make their ends meet and make sure that they can pay their bills. For those who are struggling with mortgage bills, renting out part of your home to a renter is a great option overall. This is very important for real estate experts such as Nick Millican.

Renting is something that is always going to be necessary, Nick Millican says that the market is not likely to change and that there are tons of reasons why renting is a great thing. Making sure you get the right renter and the right property makes a huge difference.