Homeowners in the island have until March 12 to register their properties for the Homestay scheme.

The scheme provides an opportunity to host paying visitors who come over during the TT races and the Isle of Man Festival of Motorcycling weeks.

’Homestay Hosts’ can earn up to £1,800 tax free income during the TT period.

Rob Callister MHK, political member for tourism and motorsport at the Department for Enterprise, said: ’There are a growing number of visiting fans from around the world who attend these two major events.

’In 2017, the TT races and Isle of Man Festival of Motorcycling attracted an additional 3,000 visitors to the island compared with 2016, bringing the total to 61,272 visitors in 2017, with a combined estimated spend of £44 million, resulting in a contribution of £31 million to the local economy.

’The provision of good quality Homestay accommodation is vital if we are to continue to grow these events and attract more visitors to the Isle of Man.

’We are always thankful to those who offer Homestay during these peak periods of demand and would encourage other homeowners to register their interest as soon as possible.’

MiQuando, an island firm, operates the scheme on behalf of the department and carries out property inspections.

It provides advice on fire safety requirements, online booking for visitors and assists hosts with their online Homestay listing.

Registration is compulsory for private households looking to take in paying visitors during the motor events.

A new tool on the Homestay website is to be launched, which will allow those interested in the scheme to check any registered Homestay property in the island.

Nigel Jones, director at MiQuando, said: ’We receive daily enquiries from visitors wanting to check if their Homestay is registered.

’Our new property checker service will allow everyone to quickly check the Homestay registration details for any local address. This is a much anticipated extra service provided by the team here at MiQuando.’

A new one-year registration costs £50. Hosts can register for two years at the price of £75, which will work out as £37.50 per year.

Last year more than 850 properties were registered.

For further information, you can download the ’Homestay Hosts’ information pack from http://homestay.miquando.com/Home/hostinfo or phone 640393.