People who want to earn some extra cash by taking in visitors to the TT and Manx Grand Prix need to do their paperwork first.

The Department for Enterprise says homeowners can now register their properties to take part in the ’homestay’ schemes for both festivals.

During the TT period ’homestay hosts’ can earn up to £1,800 tax-free income. Households that fail to register will not have access to the tax-free limit.

Homestay registration and inspection is compulsory for any private household looking to offer paid accommodation during the two festivals to ensure that visitors receive a high level of quality and fire safety standards.

Rob Callister MHK, the political member responsible for Visit Isle of Man and motorsport (pictured right), said: ’We are once again grateful to all those who offered, and continue to offer, Homestay accommodation and would encourage other homeowners to do the same.

’The homestay scheme is vital to accommodate the increase in visitor numbers we witness over these busy periods.

’Making sure these visitors receive the quality and service levels they expect from accommodation providers is paramount to ensuring their safety, as well as contributing to their overall visitor experience.

’As we continue to invest in and develop the events, we are confident that we will continue to see further growth in the economic value of the TT and Festival of Motorcycling.

’This year’s TT provided an estimated contribution of £26.8 million to the local economy, an increase of almost 8.9% on 2017.

’We also witnessed the highest recorded number of first time visitors to the island since the surveys began in 2010. The homestay scheme is a great asset to showcase the island’s “extraordinary story” to these visitors through the increased personal contact with our community.’

The homestay registration form is available to download from the hosts section of the official homestay website, or a copy can be requested from the homestay team by emailing or telephoning 640393.

The scheme is operated by Isle of Man firm MiQuando on behalf of the department.

Nigel Jones, MiQuando director, said: ’Already, we have had a stream of homestay inquiries by phone, email and increasingly through our social media channels.

’With so much interest, we’d encourage new hosts to register early and help our wonderful race fans from all over the world finalise their travel and accommodation plans for 2019.’

Registration fees start from £37.50 per year for a new registration and from £22.50 per year for a re-registration.

The fee includes an inspection visit for new registrations, plus marketing on the official homestay website and social media pages. In addition, registered hosts will have access to the department’s public liability insurance.

MiQuando will be at the ’Visit Isle of Man North Drop in and Networking Session’ on November 21 2pm until 7pm at Brightlife, Ballaheaney, Andreas Road, IM7 4EN.

This is an opportunity for anyone considering becoming a homestay host to discuss the scheme with the team.

For more information call the Visit Isle of Man team on 686870.

The deadline for registration is Tuesday, April 30.

Source: IoMToday