Contemplating a Lodger

DietIrnBru

Recently moved into a new flat - literally on the cusp of the lockdown beginning. I am eager to pay down my mortgage as much as possible in the first five years. I can afford to overpay by about £200 pcm on my own salary. However, I am contemplating renting my room out to a lodger. I wanted to gauge what the experience has been like for other live in landlords. Also, what is the experience of setting ground rules etc? Is it best to broach it outright and say what mutual expectations are? 

hazyjo

Please read Post #10 here:

https://forums.moneysavingexpert.com/discussion/comment/74464603#Comment_74464603

Prob worth searching the forum for 'lodger' too as there are many posts you can learn a lot from!

Good luck.

hazyjo

PS if Scotland, there will be differences. Just realised your username which may indicate Scotland!

greatcrested

Yes Scottish rules are very different. Try ShelterScotland?

hazyjo's link will provide some useful general tips and links but be aware the legalities differ from England.

Comms69

DietIrnBru said:

Recently moved into a new flat - literally on the cusp of the lockdown beginning. I am eager to pay down my mortgage as much as possible in the first five years. I can afford to overpay by about £200 pcm on my own salary. However, I am contemplating renting my room out to a lodger. I wanted to gauge what the experience has been like for other live in landlords. Also, what is the experience of setting ground rules etc? Is it best to broach it outright and say what mutual expectations are? 

Your room, or your spare room?

Brock_and_Roll

We had an in situ lodger when we purchased the house. Had never met him so bit weird but the money helped pay down the mortgage. Previous owners told us he was a nice bloke and this was the case. Still good friends now 10 years later - but if you have another adult in your house there has to be a bit of give and take. In his case, it was his preference for larger ladies which necessitated replacement of some fixtures and fittings!!

greatcrested

Comms69 said:

DietIrnBru said:

Recently moved into a new flat - literally on the cusp of the lockdown beginning. I am eager to pay down my mortgage as much as possible in the first five years. I can afford to overpay by about £200 pcm on my own salary. However, I am contemplating renting my room out to a lodger. I wanted to gauge what the experience has been like for other live in landlords. Also, what is the experience of setting ground rules etc? Is it best to broach it outright and say what mutual expectations are? 

Your room, or your spare room?

I think a lodger who shares a room with their landlord goes by a different moniker...

Comms69

greatcrested said:

Comms69 said:

DietIrnBru said:

Recently moved into a new flat - literally on the cusp of the lockdown beginning. I am eager to pay down my mortgage as much as possible in the first five years. I can afford to overpay by about £200 pcm on my own salary. However, I am contemplating renting my room out to a lodger. I wanted to gauge what the experience has been like for other live in landlords. Also, what is the experience of setting ground rules etc? Is it best to broach it outright and say what mutual expectations are? 

Your room, or your spare room?

I think a lodger who shares a room with their landlord goes by a different moniker...

Indeed. Or if the OP was thinking of letting out short term; or potentially moving into the living room etc. 

greatcrested

Comms69 said:

greatcrested said:

Comms69 said:

DietIrnBru said:

Recently moved into a new flat - literally on the cusp of the lockdown beginning. I am eager to pay down my mortgage as much as possible in the first five years. I can afford to overpay by about £200 pcm on my own salary. However, I am contemplating renting my room out to a lodger. I wanted to gauge what the experience has been like for other live in landlords. Also, what is the experience of setting ground rules etc? Is it best to broach it outright and say what mutual expectations are? 

Your room, or your spare room?

I think a lodger who shares a room with their landlord goes by a different moniker...

Indeed. Or if the OP was thinking of letting out short term; or potentially moving into the living room etc. 

Ah! Didn't think it through. My dirty mind!

FreeBear

DietIrnBru said: Also, what is the experience of setting ground rules etc? Is it best to broach it outright and say what mutual expectations are? 

Draw up a set of house rules before taking anyone in. Put it in writing and make it part of the (written) contract. Examples may be -

• No cooking after 22:00.
• Washing up to be done promptly after eating.
• No guests without prior consent.
• No naked flames, candles, incense, or oil burners.

It took me a while, but I now have a lovely young lady as a lodger. She is happy & contented, pays the rent on time, and doesn't make any demands of me.

Unicorn_cottage

I had a lodger for 3 months when I was broke. It was awful. She was completely mad. I used the document pack from Spareroom.com so the contract was watertight.