does this make sense-help

natwill_3

Hi all

I have a 2 bed 2 bathroom flat in west london, own it, worth maybe 350k, mortgage of 215k, have been offered rent of 700 a month for main bedroom with en suite

has anyone else done this? and is it worth the aggro factor?

thanks anyone for any thoughts, got to decide by tomorrow

clutton_2

is this a lodger you are considering getting ? or renting out the whole flat ?

natwill_3

Hi

its just a bedroom, I'm on my own and the flat needs doing work, having someone in would pay for that...so far its just an idea with someone willing to move in tomorrow!

Sharing rest of flat, advertsided for short rental of 3 months, £3K would help alot!!

natwill_3

clutton wrote:

is this a lodger you are considering getting ? or renting out the whole flat ?

sorry yes i mean a short term lodger

Dan29

natwill wrote:

Hi all

I have a 2 bed 2 bathroom flat in west london, own it, worth maybe 350k, mortgage of 215k, have been offered rent of 700 a month for main bedroom with en suite

has anyone else done this? and is it worth the aggro factor?

thanks anyone for any thoughts, got to decide by tomorrow

Until recently, I was renting out a 2 bedroom flat in the church conversion which I think is just down the road from you. Flat worth £350k, rent just over £1500 a month, so financially you're in the right sort of area.

Tax-wise, you can receive up to £4,250 a year tax-free through the Rent a Room scheme, so as long as you rent out the room for less than six months a year, you won't have to fill in a tax return.

clutton_2

i would go to https://www.landlordzone.co.uk (com?) and buy a Lodger Agreement - then you both know where you stand. Its always better to have a set of "rules" before someone moves in.


but my question is why are they SO desperate for accommodation ? i would want to take up some references myself.

natwill_3

Thanks both of you, just 3 months which what I have just agreed too is £2k!! pays for alot of work

its my home btw not an investment!

natwill_3

clutton wrote:

i would go to https://www.landlordzone.co.uk (com?) and buy a Lodger Agreement - then you both know where you stand. Its always better to have a set of "rules" before someone moves in.


but my question is why are they SO desperate for accommodation ? i would want to take up some references myself.

I have, they have sold their home in fulham, going back to oz in march and need 3 month stay, got refs and £1400 deposit

clutton_2

i wasn't advising re an investment. Its even more important to get a good tenant as a lodger - but you must get something signed, otherwise you will not have a legal leg to stand on if s/he will not leave when they said they would -

good luck !!

remember its your house, and you set the rules as to what is acceptable and what is not.

well done you - sounds like you would make a good landlord !!!

natwill_3

Thanks, its only under 3 months, during which time i will be away alot so prob a ggod idea!