Taking in a Lodger

knealeedis · 05-01-2007, 08:31

I am considering renting out my spare room and getting a lodger.
Can anyone give any advice about how to go about doing this?
what do I need to do in the way of vetting potential lodgers, what do I need in the form of a contract ect.

Any advice would be appriciated.

TKW · 05-01-2007, 10:05

you also need to check your tax situation, and whether your insurance will be affected. Bear in mind that if you're on your own at the moment you'll lose your single person's allowance.

andy2407 · 05-01-2007, 10:38

I've had a couple of lodgers in the past, although both were organised through the company I worked for at the time and were overseas employees on secondment to the UK, so I didn't need contracts or have worries about payment etc.
I suspect some online searching will turn up some typical contracts that you can download - perhaps for a small fee. A bond of some sort would probably be appropriate too.
In terms of the tax situation, you can receive an extra £4,250 a year tax free under government rules - see The Rent a Room scheme : Directgov - Money tax and benefits
As mentioned above, you will lose your council tax 25% single person discount if you are on your own now.
To find a lodger, there are a number of online sites - Flatshare-rooms rent-House share-rooms let-Flatshare ads seems to be a popular one. That site will also give you an idea of the going rate for your area. Alternatively, an advert in the local newsagent's window etc may work.
You could also put the word out around family / friends / work mates etc that you are looking. It might give you more peace of mind if you have someone that comes recommended or vetted by a friend.
Good luck - and don't spend all the extra income on modifications!

Buster · 05-01-2007, 18:46

I've just got a lodger, so I can talk you through the process this weekend if you want. Taxwise, pretty much as Andy says above so consider that when deciding how much to charge (Hi Andy BTW!).

Must dash and do some exercise.

p.s. you can buy a basic contract from Wh Smith for 5 quid-ish. Also, when vetting a potential lodger, trust your gut feeling.

05-01-2007, 08:31	#1
knealeedis Briskodian Join Date: Feb 2005 Location: Midlands Posts: 121 Members Car: Thanks: 2 Thanked 1 Time in 1 Post	Taking in a Lodger I am considering renting out my spare room and getting a lodger. Can anyone give any advice about how to go about doing this? what do I need to do in the way of vetting potential lodgers, what do I need in the form of a contract ect. Any advice would be appriciated.

05-01-2007, 10:05	#2
TKW Briskodian Join Date: Sep 2003 Posts: 969 Members Car: Thanks: 11 Thanked 14 Times in 14 Posts	Re: Taking in a Lodger you also need to check your tax situation, and whether your insurance will be affected. Bear in mind that if you're on your own at the moment you'll lose your single person's allowance. __________________ Octavia 4x4

05-01-2007, 10:38	#3
andy2407 Briskodian Join Date: Mar 2005 Location: Upper Ramsbottom Posts: 5,595 Members Car: Yellow Fabia vRS Thanks: 59 Thanked 224 Times in 181 Posts	Re: Taking in a Lodger I've had a couple of lodgers in the past, although both were organised through the company I worked for at the time and were overseas employees on secondment to the UK, so I didn't need contracts or have worries about payment etc. I suspect some online searching will turn up some typical contracts that you can download - perhaps for a small fee. A bond of some sort would probably be appropriate too. In terms of the tax situation, you can receive an extra £4,250 a year tax free under government rules - see The Rent a Room scheme : Directgov - Money tax and benefits As mentioned above, you will lose your council tax 25% single person discount if you are on your own now. To find a lodger, there are a number of online sites - Flatshare-rooms rent-House share-rooms let-Flatshare ads seems to be a popular one. That site will also give you an idea of the going rate for your area. Alternatively, an advert in the local newsagent's window etc may work. You could also put the word out around family / friends / work mates etc that you are looking. It might give you more peace of mind if you have someone that comes recommended or vetted by a friend. Good luck - and don't spend all the extra income on modifications! __________________ The future's bright The future's mellow Now with a little zest of Washbrook added

05-01-2007, 18:46	#4
Buster Briskodian Join Date: Jan 2005 Location: Manchester Posts: 453 Members Car: 05 Red Furby VRS (no mods). Thanks: 5 Thanked 0 Times in 0 Posts	Re: Taking in a Lodger I've just got a lodger, so I can talk you through the process this weekend if you want. Taxwise, pretty much as Andy says above so consider that when deciding how much to charge (Hi Andy BTW!). Must dash and do some exercise. p.s. you can buy a basic contract from Wh Smith for 5 quid-ish. Also, when vetting a potential lodger, trust your gut feeling.

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