First experience as a live in landlord with mistakes made...

Crashy_Time

accidental_landlord wrote: »

If you had half a brain you could be dangerous! You are again making assumptions and spluttering out random figures. The monthly mortgage payment alone is in excess of double what the lodger is paying, and that is with around 40% my equity in the property.... He certainly is not paying my mortgage off, simply contributing to the running costs of the place he lives which at the same time reduces my outgoings... I simply want to be able to manage outgoings vs cost so that I can price at a level that is fair to both a lodger and myself...

As to why I feel it is better to hang onto the house with a lodger for the next couple of years rather than downsize and pay 10's of thousands between stamp duty, legal fees and estate agent fees that is probably too difficult a concept for you to grasp.

Please do jog on.

Ah...now I see why you have a lodger and seem slightly annoyed Did the rate hike take you by surprise? You would be better off looking into short stay working/travelling (catching flight next day, not backpacking ) type lets IMO, but there is no doubt some tax consideration that complicates things I would just jack the room rate to 600 p.m, put up with all their nonsense and just hammer the mortgage (and the overtime) before rates go up any more :money:

Slithery

accidental landlord

You've probably realised by now that the simplest thing to do is ignore Crashy entirely. That's what most of us do

Wobblydeb

I'd echo es5595 and say lay out your rules when you show someone around. I've looked at house shares before, and it is much better when everything is made clear upfront. That way, both people can decide whether it is a good fit or not.

I turned down one with the owner because the tenants' lounge was a miserable pokey room, and they made it clear that the tenants generally just kept to their own rooms. I have no criticisms of that - it was keenly priced as a result, but I was looking more for a sociable home.

The other I was turned down for, as it was a party house, and they decided someone who didn't do drugs would probably not feel comfortable. Again, no issue and much better to be upfront.

00ec25

Slithery wrote: »

accidental landlord

You've probably realised by now that the simplest thing to do is ignore Crashy entirely. That's what most of us do

muchly agreed

CommitedToChange

Seriously - don't bother trying to explain/reason with Crashy. If you look at his previous posts it's pointless.

accidental_landlord_2

thanks you 3.

bouicca21

I've never been quite sure where Crashy crashes, but presumably somewhere near the back of beyond (or further) if he thinks £300 is a reasonable rate for renting a room.

But really, best not to engage with his somewhat whacky view of the property world.

JuzaMum

Is there a language school near you? I hosted foreign students from language schools for 10 years. They pay well especially in summer and the schools will offer support and guidance in hosting.
I had many Arabic students and made sure they had extra bedding so they were warm at night. No one got near the heating controls although I did put the heating on more to make them comfortable.
If things don't work out they can move out pretty quickly. Two dope smoking teenagers were booked on the next flight home after I phoned the school!