See German keeping Germany essentially cushy for residents (7)

'for residents' is the definition.
(residents in someone else's house)

'see german keeping germany essentially cushy' is the wordplay.
'see' becomes 'lo' ('lo' is an archaic exclamation meaning 'look!').
'german' becomes 'ger' (abbreviation).
'keeping' means one lot of letters goes inside another.
'germany' becomes 'd' (vehicle registration code for Deutschland).
'essentially' says to take the centre.
The middle of 'cushy' is 's'.
'lo'+'ger'='loger'
'loger' enclosing 'd' is 'lodger'.
'lodger'+'s'='LODGERS'