Taking in a lodger is becoming a popular way to meet mortgage payments.

It may come as no surprise the Zurich Financial Services found money is the main motivation for homeowners deciding to let out a room to a total stranger.

One in five people questioned couldn't afford their mortgage repayments. Thirty six per cent needed extra cash and four per cent had to sublet a room in order to get on the property ladder.

Taking in lodgers to make ends meet has become so mainstream a couple of years ago building society Bradford and Bingley launched a room-to-rent mortgage for first-time buyers.

The idea was the potential money made from the lodger would count as income on your application.

With so many people opening their doors not only to the extra income but also to strangers, they need to know potential problems can often arise.

Among those who had taken in lodgers, one in five suffered damages to either their personal possessions or home, 64 per cent felt their privacy had been invaded and 29 per cent were worried about the questionable company their lodger brought home.

Problems such as these led to a quarter of the surveyed homeowners admitting the whole affair was so awful they'd never be tempted to take a lodger in again.

Yet there are ways people can learn to live in harmony with their lodger and enjoy the extra income and potentially the company of a housemate.

The trick is in the selection process. Don't be afraid to interview the people who are interested in renting from you.

Surprisingly 75 per cent of people surveyed do nothing at all to vet their new housemate before they move in.

An interview will be the time when it's clear if the candidate is suitable. What are their tastes in music and their hobbies?

Are you comfortable living with a raver with a love for loud music or a trainee violinist? Or you may find a keen cook who could make a great addition to your household.

If you are still struggling to get a good picture of your prospective lodger, ask them to provide references and, if applicable, their rental history. Objective accounts from previous landlords could reveal the real them.

Although there is no legal requirement to have a written agreement between you and your lodger, it is a very good idea to haveone. This agreement should include the rent amount, the frequency of rent payments, their notice period, any services you want to provide, any share of household bills, how long until the payment amount is reviewed and house rules. This will protect you if any problems arise.

Also, be aware many home insurance policies will only cover the possessions of the homeowners and their family, so lodgers will need to arrange their own cover. It is important for homeowners to advise their insurer if they rent out a room to ensure the correct cover is provided.

The tenure of your home should also be checked out as part of the process.

Examine your written agreement and find out if it is leasehold or freehold to make sure you're entitled to take in a lodger.