Owner-occupier wanting to rent out room – worth the trouble?

Hi,

I am a new and FH buyer.. (less than 3months). Have a 3 bdroom and 1 bathrm place with the toilet being separate. I already have a lodger (student) staying at my place indefinitely till she graduates about 1.5 yr later.

I live with my partner in the master bdroom so there is one room left. Am wondering, if it is worth the trouble to rent out the third room for an extra $110 p/w. as my entire home's living area totals a 110msq.. so it gets abit squeezy in my opinion.

My place is near a uni hence it is easy to find lodgers.

If anyone has any ideas or experience.. please advise.