Money Moral Dilemma: Should I increase my housemates' rent?

penarthian

I'm sure if you increased the rent for others they would leave! My suggestion is that they pay an extra month in advance . The advantages are
A. Usually more flush at start of course than end
B. If anyone does a runner you have a month in hand to find a replacement
C. A 'free' month at the end of the course- party on down!!!!

pennypinchUK

If you're worried about the risk you should have thought about that when you took on personal responsibility for the rent.

Christianmumlawyerperson

Absolutely charge them more. You are taking on financial risk of their default, which, if it results in a rent default by you could affect your credit rating and your future landlord reference. Two ways come to mind, either charge more and keep the extra aside incase needed. You could always reimburse them at the end if they have behaved and paid up and not caused any headaches - your choice. Alternatively get them to give you a couple months in hand so that you have got protection if they do stop paying. If someone you are living with hits financial problem its really really really really hard to either insist on payment or kick them out. Tackle it now, get some form of payment cushion. Same for the deposit. Make sure you got some protection if you are taking this risk.

mrginge

I do love these threads. Totally devoid of any appropriate detail and probably made up by some junior on their way in to work. Can't wait for the next one' something like ....'Should i buy some yellow trousers???'

Anyway, just to be a hypocrite i will add my 2p to this debate.

The answer is no.
Because you can't.

Thread closed.

jjlandlord

mrginge wrote: »

I do love these threads. Totally devoid of any appropriate detail and probably made up by some junior on their way in to work.

£80 million at the end, though.
Not for the junior employee of course, let's be serious

commandomum

Certainly not. The rent should be split evenly between all of you. It sounds like you have other issues going on here that need to be sorted out. Whatever these are only you know. Do you other housemates not respect the landlord's property, if this is the case then this will be taken care of in the deposit payment that you all would have paid.

DRP

Buy a house, loser.

moneyistooshorttomention

Christianmumlawyerperson wrote: »

Absolutely charge them more. You are taking on financial risk of their default, which, if it results in a rent default by you could affect your credit rating and your future landlord reference. Two ways come to mind, either charge more and keep the extra aside incase needed. You could always reimburse them at the end if they have behaved and paid up and not caused any headaches - your choice. Alternatively get them to give you a couple months in hand so that you have got protection if they do stop paying. If someone you are living with hits financial problem its really really really really hard to either insist on payment or kick them out. Tackle it now, get some form of payment cushion. Same for the deposit. Make sure you got some protection if you are taking this risk.

Something somewhere along those lines might be a possibility. That is, you have some money off them to put (safely/legally/etc) to one side that covers you in case they try to "do a runner" at the end of their tenure. If they did try and do a runner, then you have the money set aside to cover you against it impacting on you personally. On the other hand, assuming they are behaving perfectly honourably and paying their whack when due = they get that money back again intact come the time.

That way = win/win. You aren't taking any risks on their behalf of them trying to land you with THEIR bills ever on the one hand, but you aren't actually charging them any extra and making a profit from the fact that some people are dishonourable and would "do a runner" on you on the other hand if they had the chance to get away with it.

Sounds all fair and everything "all present and correct" and I doubt honest people would try and object to that, provided you made it quite quite clear you weren't planning on "making a profit" from having taken the "responsibility" of being the "designated person".

You are protected. They are protected. No-one could possibly steal (or make a profit) from anyone else = sorted....

WastingMyTime

No!....... Get a different landlord.

sclare

Lots of people here clearly don't know much about flat sharing.

It's pretty much the norm for one person to be the one responsible to the landlord for rental payment. Few landlords want the hassle of dealing with three or four people separately. Also the same person is usually the one paying the bills, and so needs the cost of those to be added their flatmates' monthly share of the rent. It would be foolish person in this position who didn't factor in a very small amount to cover any blips in the quarterly bills or minor changes to a direct debit.

Normally that person would ask that his flatmates pay a deposit upfront, and arrange direct debits which pay their rent in advance (so at the beginning of the month for rent due at the end). That way if a flatmate disappears, the rent has been paid in lieu of notice, and if there's been any damage, or cleaning is required, the deposit will cover it.

The person in this dilemma seems not to have done those things.