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To Rent or Not to Rent
USAgirluk
Posts: 9 Forumite
Hello Everyone - this is my very 1st post. Long story but basically we moved to the Fens 9 months ago - looked fine -looked like (on the internet) that there were jobs etc. (NOT!) Hubby managed to get a transfer -but they dropped his pay £6,000 a year:eek:
I have been looking for 9 months -and there is nothing -at present I am working a 10hr per week cleaning job. Weve managed to get into a BAD financial situation.
My question is: What are the laws/rules regarding renting out 2 rooms in our house? I assumed that you could just do it but hubby seems to think that it's not that straight foward.
Were getting notices through the door -final demands etc and need to do something asap -I figured at least that would bring in some ££. Any ideas would be great. Thanks
I have been looking for 9 months -and there is nothing -at present I am working a 10hr per week cleaning job. Weve managed to get into a BAD financial situation.
My question is: What are the laws/rules regarding renting out 2 rooms in our house? I assumed that you could just do it but hubby seems to think that it's not that straight foward.
Were getting notices through the door -final demands etc and need to do something asap -I figured at least that would bring in some ££. Any ideas would be great. Thanks
Money doesn't buy happiness, just a better standard of misery...;)
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Comments
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rent a room scheme, obviously cash in hand is even better!
you can just rent a room no problem, advertise now.
get your !!! to college and get a proper job.0 -
you can earn about £4000/year tax free from renting a room out (I think), then you pay tax on anything over that.
there's nothing taxing about it! just go ahead and put up an advert. The only difficult bit is finding a suitable tenant. just make sure you read up on tenants rights etc...Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
rent a room scheme, obviously cash in hand is even better!
you can just rent a room no problem, advertise now.
get your !!! to college and get a proper job.
Already did the whole University thing lol -Im 36, Degree, speak 3 languages - Was in Tax law in the US -Have 15 yrs experience in financial, tax, translations etc......No jobs within a 30 mile radius -
Money doesn't buy happiness, just a better standard of misery...;)0 -
yeah sorry was just jesting about the job, my sis & bro-in-law moved to Cambridgeshire (Wisbech) for a "better life" ie more house for less money.
it's bit them on the !!!!, and their position sounds very similar to yours!0 -
Simple answer - move somewhere where there are more employment opportunities! Perhaps nearer to London - somewhere like Milton Keynes?0
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yeah sorry was just jesting about the job, my sis & bro-in-law moved to Cambridgeshire (Wisbech) for a "better life" ie more house for less money.
it's bit them on the !!!!, and their position sounds very similar to yours!
OMG small world! Im in Wisbech as well......Money doesn't buy happiness, just a better standard of misery...;)0 -
dannyboycey wrote: »Simple answer - move somewhere where there are more employment opportunities! Perhaps nearer to London - somewhere like Milton Keynes?
Hi
We lived in Bucks (outside Hemel) and moved up here to escape the traffic, crime etc etc + a bigger place....Milton Keynes is @70 miles away & London even further. Weve done alot of work on this place (sunk all of our money into it) and I hate the thought of selling or even worse loosing it.....but looks like were going to have to. If Id only known:(Money doesn't buy happiness, just a better standard of misery...;)0 -
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dannyboycey wrote: »Just over 40. About 45 mins commute on the train. However, wages there are very good anyway - no need to go to London. Fairly high property prices though.
Thanks...Ill have to re-think this. We travel alot to Bucks to see my mother-in-law just outside of Beaconsfield..... I was thinking MK was much further.....
Got 70 on the brain now (?)....
Money doesn't buy happiness, just a better standard of misery...;)0 -
Hello Everyone - this is my very 1st post. Long story but basically we moved to the Fens 9 months ago - looked fine -looked like (on the internet) that there were jobs etc. (NOT!) Hubby managed to get a transfer -but they dropped his pay £6,000 a year:eek:
I have been looking for 9 months -and there is nothing -at present I am working a 10hr per week cleaning job. Weve managed to get into a BAD financial situation.
My question is: What are the laws/rules regarding renting out 2 rooms in our house? I assumed that you could just do it but hubby seems to think that it's not that straight foward.
Were getting notices through the door -final demands etc and need to do something asap -I figured at least that would bring in some ££. Any ideas would be great. Thanks
OK, here goes..... I have just investigated this. I phoned my local council and if you let to 2 people other than the family there is no problem. If more, then there are requirements.
The first £4,800 is tax free. As you are not earning you have your tax allowance in hand.
If you google 'renting rooms' there is a good .gov site which gives you all the gen.
We have let one room and now have another to go. I am assessing the income on 10 months out of 12 let.
I would give it a try. The site I mentioned gives good comprehensive advice.0
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