Anyone had/have a lodger and what was your experience? Any tips or advice?

Honeylife

The Viewing &Interview is crucial for both of you.  You have to ask the right questions and tell the truth about your expectations. I repeat ad infinitum: 

 "This is a quiet house, a very quiet house, we do not hang out together, or eat together, and am very reluctant regards any overnight guests" 

"You may not see me (the LL) for several days as I am in my Study working"

"As a student, I don't expect you to be home during the week so the heating will not be on during the day time"

"I know in London accommodation is expensive, but understand this is not a free BnB for your family and friends to crash"

"You and any guests may not smoke in this house"

"Have you ever lived away from home?"

"I will not be 'keeping an eye on you' (that's for parents!)

"I don't care if you are vegan, kosher or non-pork, we all cook whatever we want."

"No political/save the planet type campaigning towards other residents, keep that outside"

If it's not working out.  I say exactly that, "this isn't working for me I don't think we are a good fit here is a month's notice"

I have had people on their knees begging for the room.  I have had people threaten to report me for discrimination (! I am scrupulous about following the law!) I have had those who wanted to be besties from day one.  I have had those who wanted me to hold their hands (no no no).  I have had the ones who sneaked in a guest  with no permission and tried to hide them for several days (really?) I had one who came to view the single room single bed, then berated me when I said no overnight guests! Its clearly written in the ad. (Applicants never read the full ad only look at the price and postcode)

Just to be real, the last time I advertised (2022) the small single bedroom, I had over 5 thousand applicants!  It is a landlord's market at the moment, so you can pick and choose your lodger, so do so wisely and don't rush.  If you advertise, then you weed out from the responses and INVITE a handful to the actual viewing. 

breaking_free

Honeylife said:

I have had people on their knees begging for the room. 
It is a landlord's market at the moment, so you can pick and choose your lodger, so do so wisely and don't rush.  

Ah yes, I can relate to this! I've had people ask me "Please can two of us take the room". Emphatic no. It's advertised for one person.
"Please can you let it out for the whole week" - It was a Monday to Friday let. This fellow obviously thought if he asked nicely enough I'd make it a 7-day let for the same price...
"I don't have the money for the deposit but I promise I'll pay it to you bit by bit each month". Another emphatic no!

When I interview a lodger I always offer them a cup of tea and sit them down on the sofa for a good length of time; I want to see if I will be comfortable with them and also if they will be comfortable with me (it's a two-way street after all).

sourpuss2021

Honeylife said:

The Viewing &Interview is crucial for both of you.  You have to ask the right questions and tell the truth about your expectations. I repeat ad infinitum: 

 "This is a quiet house, a very quiet house, we do not hang out together, or eat together, and am very reluctant regards any overnight guests" 

"You may not see me (the LL) for several days as I am in my Study working"

"As a student, I don't expect you to be home during the week so the heating will not be on during the day time"

"I know in London accommodation is expensive, but understand this is not a free BnB for your family and friends to crash"

"You and any guests may not smoke in this house"

"Have you ever lived away from home?"

"I will not be 'keeping an eye on you' (that's for parents!)

"I don't care if you are vegan, kosher or non-pork, we all cook whatever we want."

"No political/save the planet type campaigning towards other residents, keep that outside"

If it's not working out.  I say exactly that, "this isn't working for me I don't think we are a good fit here is a month's notice"

I have had people on their knees begging for the room.  I have had people threaten to report me for discrimination (! I am scrupulous about following the law!) I have had those who wanted to be besties from day one.  I have had those who wanted me to hold their hands (no no no).  I have had the ones who sneaked in a guest  with no permission and tried to hide them for several days (really?) I had one who came to view the single room single bed, then berated me when I said no overnight guests! Its clearly written in the ad. (Applicants never read the full ad only look at the price and postcode)

Just to be real, the last time I advertised (2022) the small single bedroom, I had over 5 thousand applicants!  It is a landlord's market at the moment, so you can pick and choose your lodger, so do so wisely and don't rush.  If you advertise, then you weed out from the responses and INVITE a handful to the actual viewing. 

Thank you for your posts Honeylife, as a fellow London live-in landlord in zone 2 I find them useful.

Personally I do hope to be able to socialise with my lodger.  In my 40s, I live on my own, no partner or children, and I only see my parents every few months.  My friendship circles that saw me through my 20s and 30s have by now disintegrated.   I’m also slightly deaf.  Therefore it’s important for my well-being that the lodger is happy to spend some time together.

That said I did turn down a guy who was here chatting away for two hours at the interview! I should have drawn it to a close earlier.  Instead I gave the room to a female student who’s friendly enough to chat in the kitchen but is obviously boundaried around me.  It’s fine but I always wish I had the opposite type of lodger to the one I currently have.  Right now I’d rather someone who’ll actively spend time with me.

But also I don’t own the property, and I absolutely rely on the income to pay the rent which has shot up in recent years.  I need to be quite sure that the student who takes the room in September will stay for the entire year.   

The room is always popular with international and some domestic students, but not really of interest to professionals unless I price it ruinously low.  Since professionals don’t love this area (they all want to be in SW) and the room is small and they’d rather live with each other.  Therefore it’s harder to fill the room at any other point and that gives the lodger some power over me.

With my costs having risen, next time round I’ll say it has to be 12 months and be thorough in interviews, hoping to find someone compatible and whose behaviour won’t cause any problems.

In easier times I’d take someone for 9-10 months and either look for a summer intern or keep it empty for the other months.  But I would try to avoid that now.

I’ll probably also be looking for 3 or 6 months rent upfront too, which thins the crowd of applicants - though not I hope by too much.

sourpuss2021

Honeylife said:

Just to be real, the last time I advertised (2022) the small single bedroom, I had over 5 thousand applicants!  It is a landlord's market at the moment, so you can pick and choose your lodger, so do so wisely and don't rush.  If you advertise, then you weed out from the responses and INVITE a handful to the actual viewing. 

I have to say though I find this figure hard to believe!

500 over a period of 10 days in high season I could believe.  But not 5000.

I’m trying to imagine what small single bedroom would ever attract that much interest.   Maybe if it was part of a big house in Clapham or Soho or Shoreditch, with very large lounge and kitchen, outdoor space… priced at £500 a month including bills.  And the live-in-landlord, the sole resident - female and aged 26 - promises to be be abroad on business for three weeks out of every four!

Yes, that might get 5000 replies before long.

But otherwise - there are just not that many people that want to be lodgers, even in London.  It’s certainly not something many professionals would choose if there are any alternatives.

Honeylife

sourpuss2021 said:

Honeylife said:

Just to be real, the last time I advertised (2022) the small single bedroom, I had over 5 thousand applicants!  It is a landlord's market at the moment, so you can pick and choose your lodger, so do so wisely and don't rush.  If you advertise, then you weed out from the responses and INVITE a handful to the actual viewing. 

I have to say though I find this figure hard to believe!

500 over a period of 10 days in high season I could believe.  But not 5000.

I’m trying to imagine what small single bedroom would ever attract that much interest.   Maybe if it was part of a big house in Clapham or Soho or Shoreditch, with very large lounge and kitchen, outdoor space… priced at £500 a month including bills.  And the live-in-landlord, the sole resident - female and aged 26 - promises to be be abroad on business for three weeks out of every four!

Yes, that might get 5000 replies before long.

But otherwise - there are just not that many people that want to be lodgers, even in London.  It’s certainly not something many professionals would choose if there are any alternatives.

Good heavens! The property is large. With large rooms and high ceilings. Three floors plus basement, Victorian semi-detached townhouse near to Kings Cross/St Pancras.

Walking distance to The Royal Vet College, UCL, Central St Martin, Tropical School of Medicine, Royal Academy of Music and a few other educational establishments a little further i.e LSE and Kings. 
It is London Zone 1. I receive many many queries from professionals despite advertising for Students only.  The new developments in Kings Cross attract people right across the board from servers in the new restaurants to Google professionals who all want to live near as CHEAPLY asap.  Also, French students who want to live near the Eurostar. 

The rent for the small room is £550pcm inclusive of Bills (and loo roll). All the rooms that could be let are on the top floor and I use the entire floor below where I have a substantial Study and Music room (piano available for music students). The kitchen is huge so we can move around comfortably.  Similar small rooms the same size locally are advertised starting at 750£ for seven days and only some bills inclusive.  It takes a canny person to live in a petit chambre for nine months but at that price, they certainly jump at it, settling for having their social life outside in Camden & Kings Cross.  I frequently get queries from students who were in Unite properties paying £300 per week and they are desperate to get out of those contracts and downsize!  But if the other my other two rooms are occupied, this petit room is left for family use as I still have boomerang children. You are right about one thing though, there is a huge back garden!

Why on earth would the LIL need to be young and mostly abroad...weird?
You clearly don't know the area or the very high demand for accommodation in London. 
Next disbelieving question.

sourpuss2021

Honeylife said:

sourpuss2021 said:

Honeylife said:

Just to be real, the last time I advertised (2022) the small single bedroom, I had over 5 thousand applicants!  It is a landlord's market at the moment, so you can pick and choose your lodger, so do so wisely and don't rush.  If you advertise, then you weed out from the responses and INVITE a handful to the actual viewing. 

I have to say though I find this figure hard to believe!

500 over a period of 10 days in high season I could believe.  But not 5000.

I’m trying to imagine what small single bedroom would ever attract that much interest.   Maybe if it was part of a big house in Clapham or Soho or Shoreditch, with very large lounge and kitchen, outdoor space… priced at £500 a month including bills.  And the live-in-landlord, the sole resident - female and aged 26 - promises to be be abroad on business for three weeks out of every four!

Yes, that might get 5000 replies before long.

But otherwise - there are just not that many people that want to be lodgers, even in London.  It’s certainly not something many professionals would choose if there are any alternatives.

Good heavens! The property is large. With large rooms and high ceilings. Three floors plus basement, Victorian semi-detached townhouse near to Kings Cross/St Pancras.

Walking distance to The Royal Vet College, UCL, Central St Martin, Tropical School of Medicine, Royal Academy of Music and a few other educational establishments a little further i.e LSE and Kings. 
It is London Zone 1. I receive many many queries from professionals despite advertising for Students only.  The new developments in Kings Cross attract people right across the board from servers in the new restaurants to Google professionals who all want to live near as CHEAPLY asap.  Also, French students who want to live near the Eurostar. 

The rent for the small room is £550pcm inclusive of Bills (and loo roll). All the rooms that could be let are on the top floor and I use the entire floor below where I have a substantial Study and Music room (piano available for music students). The kitchen is huge so we can move around comfortably.  Similar small rooms the same size locally are advertised starting at 750£ for seven days and only some bills inclusive.  It takes a canny person to live in a petit chambre for nine months but at that price, they certainly jump at it, settling for having their social life outside in Camden & Kings Cross.  I frequently get queries from students who were in Unite properties paying £300 per week and they are desperate to get out of those contracts and downsize!  But if the other my other two rooms are occupied, this petit room is left for family use as I still have boomerang children. You are right about one thing though, there is a huge back garden!

Why on earth would the LIL need to be young and mostly abroad...weird?
You clearly don't know the area or the very high demand for accommodation in London. 
Next disbelieving question.

Thanks for fleshing it out.   You’re clearly not charging enough, which must be rather time-consuming for you in all the excess responses the advert generates.    

I suggest the live-in-landlord of an imagined ideal property would be young because plenty of people only want to live with their own age group.  They don’t want to feel monitored by a parent / authority figure where they live.  But yes if the property and location are desirable enough then many will accept it.

I live in zone 2 myself where I have rented rooms to lodgers and now also a couple of entire flats in a desirable Victorian property for the past 10 years.  So I hope I’m not a total ignoramus about the level of demand.   I understand zone 1 is much more popular.  But it’s been 25 years since I lived in university halls in Bloomsbury myself

I do find that replies increase exponentially the more cheaply you price the room.  So why bother underpricing?   Personally I need the money so I’m not playing that game any more.  The room that was £350 back in 2015 went for £700 last year, and it will be £850 this time around.   And I’m sure someone will be happy to rent it!

RAS

Honeylife said:

sourpuss2021 said:

Honeylife said:

Just to be real, the last time I advertised (2022) the small single bedroom, I had over 5 thousand applicants!  It is a landlord's market at the moment, so you can pick and choose your lodger, so do so wisely and don't rush.  If you advertise, then you weed out from the responses and INVITE a handful to the actual viewing. 

I have to say though I find this figure hard to believe!

500 over a period of 10 days in high season I could believe.  But not 5000.

I’m trying to imagine what small single bedroom would ever attract that much interest.   Maybe if it was part of a big house in Clapham or Soho or Shoreditch, with very large lounge and kitchen, outdoor space… priced at £500 a month including bills.  And the live-in-landlord, the sole resident - female and aged 26 - promises to be be abroad on business for three weeks out of every four!

Yes, that might get 5000 replies before long.

But otherwise - there are just not that many people that want to be lodgers, even in London.  It’s certainly not something many professionals would choose if there are any alternatives.

Good heavens! The property is large. With large rooms and high ceilings. Three floors plus basement, Victorian semi-detached townhouse near to Kings Cross/St Pancras.

Walking distance to The Royal Vet College, UCL, Central St Martin, Tropical School of Medicine, Royal Academy of Music and a few other educational establishments a little further i.e LSE and Kings. 
It is London Zone 1. I receive many many queries from professionals despite advertising for Students only.  The new developments in Kings Cross attract people right across the board from servers in the new restaurants to Google professionals who all want to live near as CHEAPLY asap.  Also, French students who want to live near the Eurostar. 

The rent for the small room is £550pcm inclusive of Bills (and loo roll). All the rooms that could be let are on the top floor and I use the entire floor below where I have a substantial Study and Music room (piano available for music students). The kitchen is huge so we can move around comfortably.  Similar small rooms the same size locally are advertised starting at 750£ for seven days and only some bills inclusive.  It takes a canny person to live in a petit chambre for nine months but at that price, they certainly jump at it, settling for having their social life outside in Camden & Kings Cross.  I frequently get queries from students who were in Unite properties paying £300 per week and they are desperate to get out of those contracts and downsize!  But if the other my other two rooms are occupied, this petit room is left for family use as I still have boomerang children. You are right about one thing though, there is a huge back garden!

Why on earth would the LIL need to be young and mostly abroad...weird?
You clearly don't know the area or the very high demand for accommodation in London. 
Next disbelieving question.

Are you paying tax on that income? And have you factored in the CGT when you sell? Understand that becomes an issue if you let out more than one room.

Honeylife

RAS said:

Are you paying tax on that income? And have you factored in the CGT when you sell? Understand that becomes an issue if you let out more than one room.

Yes & Yes 

Sarah1Mitty2

Blank11 said:

I have been house searching for quite a while and houses I’ve seen and liked tend to be at my stretched maximum budget. To help ease mortgage payment and deal with the cost of living crisis I am leaning towards getting a lodger. I get not all will have a positive experience with a lodger and what is the best way to vet or look for in what is considered a good and hassle-free lodger? What is the process and what happens if they refuse to leave?

Not worth the risk IMO, a bad lodger will ruin your living space and it could be difficult to get them out? Better to wait for interest rates to bring prices down IMO.