Thinking of taking in a Lodger

Rich85

Hi,

Well to start off with I am 27 have a really nice house (not to be big headed).
Ive lived in it for around 3 years, I have a reasonably stable job.
Ive just been plodding along over the last few years trying to furnish it, its been a slow process as I didnt hold much money aside in order to get the smallest mortgage that I could.

Was having a conversation with a friend at work who was saying he was looking to move out of his parents home and asked if I fancied taking him in as a lodger. he threw the figure of £330 at me after asking how much my mortgage repayments were.
Saying if you take me in I will pay your mortgage for you.

Obviously this was of innitial interest to me.
I dont really need the money but over the last few weeks ive been considering if the money is worth the trade off due to the lack of privacy that I will loose by sharing my house with someone else.

My house is a 3 bed house reasonably large. My bedroom is ensuite so I wouldnt have to share a bathroom.

Ive discussed this to friends that are house sharing themselves and they think it would be a great idea. I could use the extra money to finish furnishing my house or buy a better car or whatever.

Im just thinking what if I go along with it and after a few months dont like it. It might be a little arkward telling him to move out... or it might be a great experience.
Hes not a stranger, I dont think id like taking in a lodger from an advert in the paper.

Is taking in a lodger a nightmare from start to finish or am I just overthinking it?

martinsurrey

Pros

Tax free cash monies(as under £4250 a year)

You know him, so you know you can have a laugh with him (see below though)

its nice to have company in a house (IMO)

Cons

reduction in privacy

You know him, which could make setting rules harder, and any friction could cause issues at work (he may be really messy, and if you ask him to tidy up, he could go around work saying your an unreasonable clean freak).

Or you kick him out, and it makes work really awkward.

I’m all for lodgers (I was one for long enough), but I wouldn’t want to mix work and home.

BitterAndTwisted

Find a lodger who isn't a work-mate or friend but someone who is known to either of those.

I've been a lodger myself and if there's no direct personal relationship at the outset it's easier and more straightforward to retain the balance of power. A work-colleague could just make things more complicated than they need to be.

katejo

I have had a lodger for some time now. After a few initial hiccups, my current one has been with me for 2.5 years now. However I wouldn't go for someone from work either. I prefer to keep them separate where possible. A colleague at work did have a lodger from work for a short time but he didn't stay. I don't know the actual reason why he left but I had the impression that something hadn't worked well.
I use my rent money to do extra work on my house. I would never have been able to do most of these jobs without it. Just remember that if you use the rent a room scheme, you are not allowed to offset any expenses eg. charge separately for gas, electricity and council tax. It all has to be included in the £4250.

Rich85

wow that was fast.
I understand the feeling that it would be more complicated and could get messy being that we work together.
but saying that I do feel that I might prefer having someone that Im friendly with rather than a stranger that lives their seperate life.
it would kind of be nice to have someone to socialise with without having to ring people.

(does it make it worse that his dads my boss!) lol

BitterAndTwisted

HIS DAD'S YOUR BOSS!

Please, do not go there.

It's perfectly possible to be friendly with another person without having to be friends.

RAS

A few things

Check out the renta room tax deal.

Be very very careful about taking anyone as a lodger who offers themselves after chacking out your mortgage payments.

Never take anyone who is living with their parents unless they have a good bit of previous experience living in a shared house; it is easier to house-train a puppy and less stressful.

Consider a Monday - friday lodger if you want a bit of privacy.

You can kick a lodger out at short notice but the damage at work might not be worth it?

Edit - his dad is your boos? Do not even go there.

StuC75

As the friend is just moving out from his parents , is he independent enough to fend for himself and muck in as needed..

Weigh up the loss of privacy on your part along with what about if hes entertaining \ partners staying over ,, what stage you be essentially the guest in your own home..

How long might you both be looking at this working for, why not say, lets give it a try for a couple of months.. that way both get to weigh up if its right or not..

bodmil

I have had a few lodgers and it's been hit and miss. The first was terrible but oddly enough, the more I have charged in rent the nicer the situation has been! If you just want some company and aren't too concerned with the money then maybe it will work ok. Personally I much prefer having clear rules and boundaries about what is being supplied and what is expected of everyone. Friends and money just don't mix.

I charge an up-front rent inclusive of bills so there are no awkward surprises. We have rules written up agreed to and I used the process of gettting paper work from people as a means to filter out potentially bad people - if they're not keen to give me information about references and employment then it's not a good sign!

Just because you get on well at work doesn't mean he'll clean his skid marks, turn his music off after 11pm or invite everyone he meets on nights out home with him!

ETA - definitely don't get involved with each other's financial affairs. What you charge is your decision and how that compares to your monthly commitments it's none of his concern. My first lodger was a friend with a job lined up to start in a few months time so I suggested he pay half the market value plus the bills. He had only lived in student houses with no concept of bills and thought council tax was £20 a month (£10 each!!) and a similar amount for gas and electric (and that having the heating on full whack was normal). Yet he gave me constant grief for not having the bare essentials like Sky and a super fast internet connection which were his priorities and of course he never missed a Friday or Saturday night drinking session and bought plenty of flashy clothes for his new job!

Grrrrrrrrrr..... still reeling from that one!

Above all, it is YOUR HOME, and any lodger should fit into your dynamic. That means that you have to do your best to pick the right person, but they also have to be sensitive to the environment they are entering and make sure that it is right for them too.

AFK_Matrix

I was going to say its not all bad having a work mate as a lodger as its worked out great for me, also doesn't hurt that he is away on business loads

But just seen that his dad is your Boss so that would be a no go for me as there is too much potential for it to go pete tong on you if you !!!! off this work mate etc. The guy who lodges with me is in another department so it worked well in my case.

SailorSam

This may be of interest, a previous thread of peoples experience with lodgers.
https://forums.moneysavingexpert.com/discussion/4486933