{"id":54,"date":"2018-06-07T13:34:09","date_gmt":"2018-06-07T13:34:09","guid":{"rendered":"https:\/\/www.idealflatmate.co.uk\/landlord-HQ\/?p=54"},"modified":"2018-10-23T15:10:18","modified_gmt":"2018-10-23T15:10:18","slug":"6-things-you-need-to-know-before-taking-in-a-lodger","status":"publish","type":"post","link":"\/landlord-HQ\/6-things-you-need-to-know-before-taking-in-a-lodger\/","title":{"rendered":"6 Things You Need to Know Before Taking in a Lodger"},"content":{"rendered":"

So the metropolitan cost of living is making you sad. You need some extra cash, but you\u2019re mildly perturbed by the idea of a sugar daddy. At least one that you have to touch, physically. For these very reasons, taking on a lodger has been a way forward for record numbers of London residents in recent years. Just think: it\u2019s not only a quick and easy way of easing that wallet strain, but you might also gain a very special friend, for bike rides and such!\u00a0If you\u2019re thinking about it, here are the first steps you need to take.<\/b><\/span><\/p>\n

1. Make sure you\u2019re allowed.\u00a0<\/span><\/span><\/h4>\n

If you\u2019re a long leaseholder, consult the terms of your lease; if you\u2019re renting the property, you\u2019ll need to ask your landlord for permission, and if you have a mortgage on the property, tell your lender. Taking in a lodger will affect your Council Tax \u2018Single Person Occupancy\u2019 status, so if you\u2019ve been on your lonesome thus far, you\u2019ll also need to notify the council.<\/span><\/p>\n

2. Decide the terms and conditions in advance, and get it in writing.\u00a0<\/span><\/span><\/h4>\n

This is called a lodger agreement. You know when you\u2019re six episodes of Judge Judy in and a defendant with a fantastically offensive haircut is banging on about he never agreed to pay Jamie-Lynn any rent: Jamie-Lynn is saying hey ya\u2019ll he most definitely damn diggidy did and Judge Judy is shouting BALONEY at the pair of them, and you \u2013 the seasoned viewer at home \u2013 you know Jamie-Lynn is probably telling the truth, but she won\u2019t see a penny because a verbal agreement means diddly squat in the eyes of law.\u00a0Don\u2019t be like Jamie-Lynn. You won\u2019t even have Queen of Everything Judge Judy to settle it\u2014you\u2019ll have Judge Rinder, who quite frankly isn\u2019t worth anyone\u2019s time. Set out the cost of deposit (normally equivalent to a month\u2019s rent), the cost of rent, when it\u2019s due how it needs to be paid. Make it clear how much notice is needed for either party to terminate the agreement and what you\u2019ll both be paying for (e.g. bills).\u00a0<\/span><\/span><\/p>\n

\"\"<\/a><\/p>\n

3. An Inventory Agreement for their room is also a good shout.<\/span><\/h4>\n

That way you have grounds to keep their deposit if they decide to break everything for a laugh. Don\u2019t be a dick. Set a fair rent for what you\u2019re offering.\u00a0Sure, we all want to make a fast buck, and sure, greedy London landlords are so ubiquitous now that it\u2019s almost a given. But don\u2019t be one of them. Empathise with your fellow humans; be realistic.<\/span><\/p>\n

4. Be in the know about declaring your payments.<\/span><\/h4>\n

The\u00a0Rent a Room Scheme<\/span><\/a>\u00a0<\/span>a<\/span><\/span>llows you to receive up to \u00a34,250 a year free from tax for letting out a furnished room in your home. The lodger can rent any amount of space in your home, but it doesn\u2019t apply for unfurnished rooms, nor if you separate areas into different flats. Check the government website for full terms and conditions, but the gist is thus: if you exceed the limit or rent out an unfurnished room, the payments are to be declared as income to HM Revenue & Customs and will be taxed in the usual way.<\/span><\/p>\n

5. Make sure your place is safe<\/span><\/h4>\n

It needn\u2019t be repeated that Judge Rinder is worth no one\u2019s time, and if your lodger electrocutes his or herself on a dodgy plug then you\u2019ll find yourself on the wrong side of the screen, my friend. Plus self-interest aside, I guess, it\u2019s just not that cool to electrocute people. So ensure all safety basics are under control: gas and electrical fittings, appliances, fire prevention etc.<\/span><\/p>\n

6. Choose the right lodger.<\/span><\/h4>\n

It can be a damn pain to evict someone, and even if they\u2019re not full on smelling-your-pants-weird, it won\u2019t be a happy life if you just don\u2019t really mesh. A lukewarm relationship isn\u2019t enough for someone you\u2019re around all the time. That\u2019s why we exist: at Ideal Flatmate, we get to know you, and then we find you matches tailored to you. We’ve got a ton of rooms for rent in London<\/a> and all around the UK<\/a>\u00a0along with – you got it – plenty of people who are looking for the same thing, so it’s never been easier to find your perfect housemate.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

So the metropolitan cost of living is making you sad. You need some extra cash, but you\u2019re mildly perturbed by the idea of a sugar daddy. At least one that you have to touch, physically. For these very reasons, taking on a lodger has been a way forward for record numbers of London residents in … <\/p>\n

Continue reading “6 Things You Need to Know Before Taking in a Lodger”<\/span><\/a><\/p>\n

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