Mon-Fri Renting

aneary

3 hopefully quick questions

1. How much notice (either side) is standard for Mon-Fri let I understand that people may only have a couple of weeks notice for contract work and that doesn't bother me but I also don't want someone to think that I'd only give them 2 weeks notice to leave.

2. Is pricing weekly or monthly standard?

3. Would you have a lower deposit than the standard month deposit if the notice period was less than a month?

AnotherJoe

"everything is negotiable"

aneary

AnotherJoe wrote: »

"everything is negotiable"

I was just looking at what other people do as a spring board, I'm okay with normal terms for lodger agreements I've been one in several places but Mon-Fri is a little different.

NinaSwiss

aneary wrote: »

3 hopefully quick questions

1. How much notice (either side) is standard for Mon-Fri let I understand that people may only have a couple of weeks notice for contract work and that doesn't bother me but I also don't want someone to think that I'd only give them 2 weeks notice to leave.

2. Is pricing weekly or monthly standard?

3. Would you have a lower deposit than the standard month deposit if the notice period was less than a month?

I've had a few lodgers in the past and currently have two. I have also lodged a lot. I take deposit(same value as full month rent) and first month rent on move-in day.
I always go with monthly cycles and stipulate 1 month notice periods for either party except for where:

• Rent is overdue - in which case I'll give them another 7 days to pay up or move. I'd also return deposit less the 7 days rent due.
• There has been some unreasonable behavior by the lodger. ( Unreasonable behavior includes illegal activity in the house, physical violence or threatening behavior towards occupants in the house or engaging in activities that risk the safety of occupants in the house or not sticking to the house rules which they agreed to)

The above applies for mon-fri or mon-sun lodgers.
The only difference is that I'd charge less rent for mon-fri but not that much less as I wont be using the room in the weekends.

ST1991

When you say monday-friday, do you mean the lodger will not be there on the weekends including all of their belongings up and moved out, the room is usable by the homeowner as if there is no lodger, and they move back in on the following monday with belongings?

Or will their belongings still be there on the weekend? (in which case it would be a normal weekly agreement, they are just not there on some days)

I've seen from other posters that a lodger agreement usually has a much shorter notice period in-case of any issues.

aneary

Their belongings are something I happy to leave up to them, as long as they understand that the room may be used at the weekends but only if my parents/friends stay over and my guests will sleep in my room and I will sleep in the spare (lodgers) room. Obviously in these cases the sheets will be changed etc.

NinaSwiss

ST1991 wrote: »

When you say monday-friday, do you mean the lodger will not be there on the weekends including all of their belongings up and moved out, the room is usable by the homeowner as if there is no lodger, and they move back in on the following monday with belongings?

Or will their belongings still be there on the weekend? (in which case it would be a normal weekly agreement, they are just not there on some days)

I've seen from other posters that a lodger agreement usually has a much shorter notice period in-case of any issues.

[FONT=&quot]That’s just a recommendation. In London most I see have a month notice period which sounds very reasonable to me as in most case these are professionals looking for somewhere to call home so will typically need more than a week to find somewhere decent and make arrangements to move (whilst also joggling a full time job).[/FONT]

NinaSwiss

aneary wrote: »

There belongings are something I happy to leave up to them, as long as they understand that the room may be used at the weekends but only if my parents/friends stay over and my guests will sleep in my room and I will sleep in the spare (lodgers) room. Obviously in these cases the sheets will be changed etc.

For the deposit, I'd [FONT=&quot]recommend you take whatever you charge for a mon-fri month's rent. The monthly rent will then depends on what the typical rates are in your area for what you offer. You should be able to get a rough idea from sparerooms.co.uk[/FONT]

aneary

I've seen rates of between 300-500 I was going to go in the middle as the 300 is for a single room and the 500 is a double ensuite the room I'm renting is a double but not ensuite.

NinaSwiss

aneary wrote: »

I've seen rates of between 300-500 I was going to go in the middle as the 300 is for a single room and the 500 is a double ensuite the room I'm renting is a double but not ensuite.

If you are happy with that go for it. Just vet your potential lodgers carefully(proof of ID, proof of job via recent payslip and/or work reference, emergency contact incase he/or she end up in hospital etc etc)
On viewings it's worth discussing your preferences on having guests over, how the cleaning is shared , smoking etc. This helps manage expectations.

Also be sure to have a carefully written lodger agreement.

aneary

I have a cleaner once a fortnight however that will increase to weekly with someone else in the flat (this cost will obviously be included in the rent). Non-smokers only and even if they say they don't smoke I can always tell you can smell it on their clothes. I wouldn't expect guests over as it's mon-fri rent only.

I've found a mon-fri one online and in addition my mother will double check it.