Advice on Letting out Rooms.

Jowo_2

shaz77 wrote: »

I was told that it was old fashioned to ask lodgers to pay monthly rather than weekly as it results in 4 weeks rent being lost per calendar year.

Not necessarily, though advertising the rent amount at the same rental period in which you collect it certainly stops disputes by lodgers who can't seem to comprehend that most months have more than 4 weeks in them, hence if they pay 4 weeks rent each month, they'll be a week in rent arrears each quarter.

If you charge £50 per week, then a monthly standing order simply becomes £216.66 per month (£50 x52 weeks divided by 12 months).

But you have never answered yet the repeated question of whether you plan to live in the property as your primary residence or whether your fear of exploitation of the energy bills is due to the fact that you intend to live elsewhere and can't monitor or control consumption.

If you don't live in this property, as per the earlier poster, then you may inadvertently grant stronger housing rights because your non-residency will transform the occupiers from lodgers to tenants.

shaz77_2

That's a good idea - £215 per month with bills inclusive, I hope this sounds better value for money, I want it to be a fair price for the lodger and enough to cover me as the landlord.

I do plan to live in the property as my permanent residence and I want to lease out the two additional rooms.

Fire_Fox

You will need to factor in income tax as that is £5K per year assuming full occupancy. I would seriously consider living in the smallest bedroom yourself as then the tenants will be more likely to use their bedrooms as a bedsit, so not being under your feet too much. IME a boxroom will have a high turnover of tenants as there is no storage and no privacy.

shaz77_2

Fire_Fox wrote: »

You will need to factor in income tax as that is £5K per year assuming full occupancy. I would seriously consider living in the smallest bedroom yourself as then the tenants will be more likely to use their bedrooms as a bedsit, so not being under your feet too much. IME a boxroom will have a high turnover of tenants as there is no storage and no privacy.

Agreed - I plan to use the smallest room, actually the other two rooms are a very good size.

I was speaking to someone today regarding this, they said I will find it difficult to lease out two rooms, I don't agree as there are many professional etc that don't want to rent an entire house.

Fire_Fox

Have you read the 'Big Badger House' thread? Badger Lady has two lodgers at a time no problem. As long as you price the rooms according to the area and local market you should be fine. So don't expect up-market city professionals in a student area or in a 'shabby chic' house. Are you willing to take DSS?

I am not sure if you can/ should join a landlord's association when you are only going to have lodgers, but really you need some experienced advice. So far MSE seems to think the total opposite of what your friends are telling you, which is a bit worrying. I wouldn't want you to get caught out by professional tenants when you are only an amateur landlady - how are you going to organise your house rules/ damage deposit/ lodger agreements?

jennifernil

Our daughter has a 3 bed flat with 1 double and 2 single bedrooms (in Glasgow). She used to rent out the double bedroom to a student (she is also a student) for £290 per month, she used the other 2 bedrooms as a bedroom and a study. Bills were on top of this, about £30 for gas/electricity/telephone, plus TV licence. No council tax as both were students. Effectively a flat share.

Your rent sounds low in comparison.

Up here you would need a gas safety certificate, and preferably to comply with HMO requirements. You would need new (fire retardant) beds and upholstery, and mains wired smoke detectors.

Contents insurance is something else to check out.....you insure your stuff, tenants insure theirs.