How do you cope with tenants or lodgers?

Smodlet

This one, AdrianC. I reckon there's a book in there somewhere or possibly yet another documentary strand on Channel 5.

AdrianC

Smodlet wrote: »

This one, AdrianC. I reckon there's a book in there somewhere or possibly yet another documentary strand on Channel 5.

Nah, that's positively tame compared to...
https://forums.moneysavingexpert.com/discussion/6013650/day-in-the-life-of-bob-hiring-a-weekly-cleaner
https://forums.moneysavingexpert.com/discussion/6017217/day-in-the-life-of-bob-the-toilet-paper-hunt
https://forums.moneysavingexpert.com/discussion/6016563/day-in-the-life-of-bob-cleaner-refuses-to-vacuum-floors
https://forums.moneysavingexpert.com/discussion/6004449/day-in-the-life-of-bob-people-who-offer-unwanted-advice
https://forums.moneysavingexpert.com/discussion/6003747/day-in-the-life-of-bob-ll-wont-do-repairs

...and there's more...

But what's the common factor...?

Slithery

AdrianC wrote: »

But what's the common factor...?

[handup]
Me sir, I know sir...
[/handdown]

onwards&upwards

What happened to your big euromillions win?

Smodlet

AdrianC, I said there was a book in there. Stalked by a shark who won the euromillions, hey? Who was also a serial killer (I thought all sharks were) I wonder if it was one of Bob's former lodgers...?

I think Bob may have mistaken this forum for Fakelook but he has certainly made me chuckle. Thanks for the links, I wouldn't have bothered otherwise.

Smodlet

onwards&upwards wrote: »

What happened to your big euromillions win?

He spent it on cleaning up after lodgers and, well, cleaners by the sound.

Smodlet

Channel 5, 2.20 p.m. today.

Exodi

Whether this is just another whimsical tale of the life of Bob Wilson or there is some semblance of truth in this, I find it very hard (impossible) to believe you're unable to turn an effective profit from this (especially renting on a per room basis). I'd also assume you're 'charging yourself' rent (else you could deem your free rent as the profit)?

If you flip it on it's head, I live in a 3 bed house with an empty room with my partner. I technically make 0 money for this guest room currently.

Now if I was to get in a lodger and charge him 1/3rd of my mortgage payments (even if I had to clean), I'm not sure how I could be convinced I'm ever making a loss as the alternative is an empty room (unless the cleaning bill is literally more than the mortgage payment...)

bobwilson

Yalpsmol wrote: »

Stop being so passive aggressive. You said you didnt mean to become a landlord. No one knows why you are one or how it happened "to" you (as it were). You arent making any money. So suggesting you stop is a reasonable suggestion. If it happened "unintentionally" and isnt turning a profit I am assuming it isnt for financial reasons so continuing makes no sense.

Not everyone is in a position to be able to sell up unfortunately.

bobwilson

Exodi wrote: »

Now if I was to get in a lodger and charge him 1/3rd of my mortgage payments (even if I had to clean), I'm not sure how I could be convinced I'm ever making a loss as the alternative is an empty room (unless the cleaning bill is literally more than the mortgage payment...)

Well, I won't go into the specific details of my situation but as an example, if you rent out a room in your 3 bed house and it pays lets say 1/5th of your bills, and the alternative is to rent out your whole house which pays 1/2 the total, and you can't sell because you're locked into a fixed rate mortgage or perhaps your house is worth less than you have left as a deposit, you're making a loss no matter which route you choose. These aren't my situation, but they're some examples of how it's possible to make a loss from renting.

You could also have had a car accident that prevented you from working, immediately after buying a house- and house values gone down in your area, and rent doesn't cover the mortgage- there's also the possibility that if you sell, you can't rent or buy anywhere else for your family to live because your income is zero. Perhaps you lost your savings due to health problems & therefore can't cover the period off work? There are plenty of possibilities that can and do happen to people.

The first thing you do when buying a house to rent out is check the rental profit. There are plenty that aren't viable. If you buy to live & something goes awry, it isn't always viable to rent it out, and there are plenty more reasons than the above which are just some examples.