advice on renting spare room in my flat

asoe209

Hello all hoping for a little advice, im thinking about renting out my spear room on a short term basis. Say 3-6 months at a time with possable extention or another 3-6 months.

Main reason is to cover the bill and pay off some debt as my partner has left leaving me in a bit of a situation.

Im not sure what to charge,I had a quick look on a renting site and saw a few rooms to rent at the 450 mark. Of course I would like more if I could.

My place is a ground floor flat, tenent would ha e access to every thing, sky tv, desktop computer internet access etc. All they would need is there own bed room funiture.
So does any one have any advice on pricing.

phill99

I think you will find that if you are renting out a room only, people will expect it to be furnished. The basics will do - bed, wardrobe, chest of drawers, bedside table. Nobody will want to move in for 3 months and have to bring their own furniture and then have the hassle of moving it out again in such a short space of time.

Try freegle and freecycle to get some free furniture. You'll be surprised what people are giving away.

asoe209

Thats a good point. There isva chest of draws but no bed or wardrobe.

If it was a longer term could I get away with out getting it. Ill check throes out im just trying to work on yhe pricing now more than any thing.

Have had a couple of friends ask about my roo but not sure about living with friends. Incase they miss payments and things go sour

cattie

If you are looking for a short term lodger, then the majority of people will be looking to have a furnished bedroom, rather than own their own that they might have to lug from place to place every few months. So it may pay you to invest in some cheap furniture, perhaps 2nd hand, which will give you better quality at a very low price.

Nobody here can advise on what to charge without knowing where the property is situated, transport links, size of room etc.

Continue your research & check out local properties & rent being charged & then decide on a figure that you feel will attract responses. No good setting too high a charge & then having the room left empty.

If you live in or very close to a city centre and there are English Language students at any nearby colleges, then this might be a great way to find somebody, as most will be here in the UK for a limited period.

I don't think it would be a good idea to rent to somebody you know as it could destroy a friendship.

asoe209

Ok thanks, ill contiune to loom around.

The room is a good size, Im close to shops ie tesco local and co op. Petrot station as well 30 second walk away.

Train station is a 10- 15 min walk 2 min drive away

Na i thought the same thing about friends. Would be starnge living with some one imdont know.

Then comes the male or femal thing lol.

BigAunty

If you are in a major city or town, you could also consider if your property would be attractive as a Monday to Friday let so you can have the place to yourselves at weekends but this won't work in every place.

Providing full furniture is essential - a single person looking for lodgings is not going to want to supply bulky furniture. If you are struggling to afford furniture, look at websites like Freegle, Freecycle, Gumtree freebies or local charity shops.

You can only charge what the market commands - stick with local rental rates as opposed to what you wish to receive to help you with your living and debt expenses.

Make sure you compare like with like - no point in setting your rate the same as someone offering a double ensuite room in the city centre if you are offering a single room, shared bathroom on the edge of town for example.

As well as researching the 'going' rate, look into how to formalise the lodging agreement, reduce risk and screen out unsuitable lodgers. See the advice here and follow it.

http://www.landlordzone.co.uk/content/lodgers-and-the-rent-a-room
http://www.landlordzone.co.uk/lodgers_questions_&_answers.htm

On this forum, we regularly see threads from both lodgers and landlords about disputes and issues, including things like rent arrears, theft, damage, intimidation.

For example, recent posts included a landlord discovered their lodger was incontinent, had ruined the mattress and the room went mouldy. Historic posts have included lodgers who have moved in their partners. I had a lodger who skipped owing rent without returning the key who I suspected of ordering credit in false names who I believe tampered with my mail and I received a trail of debt collection letters in her name.

Here's a couple of threads to encourage you to mitigate risks by careful screening

http://www.consumeractiongroup.co.uk/forum/showthread.php?378000-The-Lodger-From-Hell-(warning-grossness-within)

http://www.independent.co.uk/life-style/the-last-lodger-left-his-maggots-behind-as-tenants-came-and-went-each-one-imported-a-new-nightmare-into-the-home-of-a-young-london-couple-writes-helen-chappell-1476693.html


EDIT - It takes a certain type of person to be a landlord sharing their space and belongings with others. If you have reservations, then instead of going down the lodger route to help with your money issues, post a thread on the Debt Free wanabee forum and the posters there will help you come up with a debt management strategy. See the Direct Gov website for info on managing debts, including a link to a free expert advice charity. Download the MSE budget planner and work through the site to identify how to make savings in every area, from the cheapest tariffs to frugal grocery shopping and thrifty recipes. There's also an 'Up your income' board on MSE.

getmore4less

look on the various sites and local papers for the going rate.

a bigger room with desk work space might attract student or worker away from home.

if somewhere of interest and a nice place you might get more money from shorter lets but that would need furniture and full service for linen etc

gumtree
easyroommate
spareroom (lots of sites are links to this one)
...
airbnb for shorter term

asoe209

Many thanks for the advice, ill defo have to look at getting some furniture in.

As a general, do room mates end up being frineds or do most keep them self to them self.

asoe209

@big thanks fir the edit, I have akready cut back where I can, my last luctery I have is the guy. Which I debating about changing for cost. But losing that would truly make me house bound.

Since my partner left its knocked me for six. Im pretty alone here as I moved away from south london to be with her in kent, changed job working in kent now to. So moving back to london is not an option right now witn work as it is.

I can see where else I could make savings. By my calculation I have about 100 spare after all is paid out and that does not include household shoppjng.

A lodger would take some off that pressure and help me get back on track.

andyuk01

asoe209 wrote: »

Many thanks for the advice, ill defo have to look at getting some furniture in.

As a general, do room mates end up being frineds or do most keep them self to them self.

Can go either way - i've lived in shared houses and now rent a room out in my flat (albeit to a friend)

My advice would be to charge just below the market rent and be more selective - find someone that fits the profile rather than someone willing to pay more

Have a chat about house rules before committing to anything - things like a guest policy, heating use, facilities etc etc so you are both clear on how things will work but maintain a flexible outlook

Mojisola

andyuk01 wrote: »

Have a chat about house rules before committing to anything - things like a guest policy, heating use, facilities etc etc so you are both clear on how things will work but maintain a flexible outlook

Most lodgers are reasonable but, if you want to avoid problems, start with a written agreement, not just a chat.