Mon-Fri Renting

00ec25

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?

1, there is no "standard". It is down to whatever you want. One poster on here (GM) always recommends 1 week for a lodger situation because if it goes wrong you do not want them hanging around in your home. That said in the context of a M-F lodging they obviously have somewhere else to go to so a longer notice may suit either you or them depending on each person's wants ie negotiate it!

2. how does your competition price it as that is what you will be compared against. As others have mentioned, make sure it is clear in your advert whether the room has to be cleared every week. If it does then the price should reflect that. When I needed M-F once I saw someone asking more for a 4 day only occupation than loads of people wanted for a "simple" non M-F lodging when converted (by me) into a day rate to compare prices. No guesses where i went!

3. depends. Somewhere between x1 - x2 of whatever your notice period is, therefore between 1 week or 2 months as the case may be so that you are covered for both a) them walking out and not paying the last rent whilst at the same time b) leaving you with damages you didn't know about before they left.

aneary

00ec25 wrote: »

1, there is no "standard". It is down to whatever you want. One poster on here (GM) always recommends 1 week for a lodger situation because if it goes wrong you do not want them hanging around in your home. That said in the context of a M-F lodging they obviously have somewhere else to go to so a longer notice may suit either you or them depending on each person's wants ie negotiate it!

2. how does your competition price it as that is what you will be compared against. As others have mentioned make sure it is clear in your advert whether the room has to be cleared every week. If it does then the price should reflect that. When I needed M-F once I saw someone asking more for a 4 day only occupation than loads of people wanted to a "simple" non M-F lodging when converted (by me) into a day rate to compare prices. No guesses where i went!

3. depends. Somewhere between x1 - x2 of whatever your notice period is, therefore between 1 week or 2 months as the case may be so that you are covered for both a) them walking out and not paying the last rent whilst at the same time leaving you with damages you didn't know about before they left.

Thank you, I have compared my prices based on other M-F rental in the area rather than other normal rentals. Most are priced at monthly rates but I thought pricing weekly (eg £90pw) would be more attractive for someone who want M-F but for 7 weeks rather than 2 months.

G_M

There is no 'normal'. It's whatever you decide, or you and the lodger agree.

* Personally I'd always stipulate 1 weeks notice either way.
* I'd take a months deposit.
* I'd take rent weekly (remember the rent book!) or monthly
* If taking rent monthly, and 1 week's notice was given/received during the month, I'd refund rent pro-rata.

aneary

G_M wrote: »

There is no 'normal'. It's whatever you decide, or you and the lodger agree.

* Personally I'd always stipulate 1 weeks notice either way.
* I'd take a months deposit.
* I'd take rent weekly (remember the rent book!) or monthly
* If taking rent monthly, and 1 week's notice was given/received during the month, I'd refund rent pro-rata.

Perfect, thank you.

2bFrank

If I take a contract in London I usually get a mon-fri lodgings. The three I've had have all been, A week upfront and week deposit. Rent paid on the Friday (usually cash) for the following week, and a weeks notice period.

The main things that I need and ask for are clean bedding ready for Monday, I usually strip of the bed Friday before I leave, and its usually clean and folded in the room Monday, unrestricted access to the kitchen and toilets and a receipt for the rent. In all honesty, Im only there to sleep and shower. I tend to eat out most nights with other contractors in the evening, or i'm working late.

Never had a problem with any of them. The best ones are the ones where the home owners have been doing it for a while and know whats what.

westv

I had one M-F lodging a few years ago where the poor landlady died.
Her solicitor brother (who lived elsewhere) threw me out with less than 24 hrs notice.

aneary

2bFrank wrote: »

If I take a contract in London I usually get a mon-fri lodgings. The three I've had have all been, A week upfront and week deposit. Rent paid on the Friday (usually cash) for the following week, and a weeks notice period.

The main things that I need and ask for are clean bedding ready for Monday, I usually strip of the bed Friday before I leave, and its usually clean and folded in the room Monday, unrestricted access to the kitchen and toilets and a receipt for the rent. In all honesty, Im only there to sleep and shower. I tend to eat out most nights with other contractors in the evening, or i'm working late.

Never had a problem with any of them. The best ones are the ones where the home owners have been doing it for a while and know whats what.

I plan on changing the sheets on a weekly basis, I would actually do it at the weekend unless I am away but have three sets of sheets so there will always be a clean set available.

Depending on how I charge will depend on the receipts, I think monthly will be easier as I can just print off a receipt once a month weekly requires a rent book which may become a pain and means I have to be around on a set day every week.

Obviously I do not expect them to live in their room I'm happy to have them in the kitchen, living etc. I will also put in a TV in their room in case they just want to relax alone.

Although I have not rented before I have been on the other side and find that house rules are generally the way to avoid issues and speaking out asap if things annoy before it becomes too big an issue.

2bFrank

I plan on changing the sheets on a weekly basis, I would actually do it at the weekend unless I am away but have three sets of sheets so there will always be a clean set available.

Thats a good idea, will allow them to change the sheets when needed. What would they do with the dirty bedding? I might be a good idea to have a separate laundry basket for your lodgers.

Depending on how I charge will depend on the receipts, I think monthly will be easier as I can just print off a receipt once a month weekly requires a rent book which may become a pain and means I have to be around on a set day every week.

Ive never had a rent book for a lodging, usually I leave the next weeks rent in a safe place for the landlord, and they put a receipt in my room on the Monday for me. We need a receipt for the accounts, as usually the contractor with have there own LTD company that pays for the lodgings.

Obviously I do not expect them to live in their room I'm happy to have them in the kitchen, living etc. I will also put in a TV in their room in case they just want to relax alone.

Good idea with the TV, however if you have room for a desk, this will be more appreciated. I once had a desk in a room and loved it, especially when you get a call at 2am in the morning to fix something. Working on a desk is better than playing knee jenga.

Although I have not rented before I have been on the other side and find that house rules are generally the way to avoid issues and speaking out asap if things annoy before it becomes too big an issue.

Definitely the best way to go about things, communication is the key for it to work. If you are not happy about something tell the lodger, and be approachable for the lodger as well as they may have a issue.

aneary

2bFrank wrote: »

Thats a good idea, will allow them to change the sheets when needed. What would they do with the dirty bedding? I might be a good idea to have a separate laundry basket for your lodgers.



Ive never had a rent book for a lodging, usually I leave the next weeks rent in a safe place for the landlord, and they put a receipt in my room on the Monday for me. We need a receipt for the accounts, as usually the contractor with have there own LTD company that pays for the lodgings.



Good idea with the TV, however if you have room for a desk, this will be more appreciated. I once had a desk in a room and loved it, especially when you get a call at 2am in the morning to fix something. Working on a desk is better than playing knee jenga.



Definitely the best way to go about things, communication is the key for it to work. If you are not happy about something tell the lodger, and be approachable for the lodger as well as they may have a issue.

As I will be changing the bedding obviously I will deal with the dirty sheets, ie stick them in the washing machine.

I would like the money sent directly into my bank putting cash into the bank is a pain, I have to drive to the bank, park etc.

I won't be buying a desk there won't be enough room in the room with a wardrobe, bed etc, there is a dinningroom table downstairs I won't be using it at 2am.

silvercar

Interesting that you feel obliged to wash the bedding, I always thought that lodgers were responsible for their own bedding.