help let flat to friends

garty

we live in a 2 bedroom flat that we have out growing
we have three children (last a suprise)
my oldest two sons share a room
but my youngest needs to move out off our room
my oldest needs his own room and the two youngest will share
our mil has offered to let us stay with her
which would be good
five bedrooms and we could keep a eye on her to make sure she does not hurt herself
the flat has been paid for also the house
my friend wants to move into our flat and pay rent
should we have an agreement?
where could we download a agreement for free
we have said 200 per month
which is rather cheap for the area off the flat
we have also left all white goods
fridge/cooker/microwave/kettle
also we have spent alot on our flat
loads off storage/heating
what do you think do you think?

clutton_2

put it in the hands of a local letting agent and get a decent market rent for the place. you MUST have an agreement for both of you - and you will both then be protected under the law. there are WAY too many pitfalls for you to do this on your own.

garty

thanks
not looking into making money out off this
my friend really needs a place to live and my mil needs somebody to look after her or she will end up in a home.....
l would like to have some sort off agreement
for both off us
l am not charging over the top rent 200 per c/m
the rent they pay will cover insurance/council tax ect
should l have a contract
which both of us sign
or just let it be

littlemissmoney

garty wrote: »

the rent they pay will cover insurance/council tax ect

The £200 rent includes council tax and contents insurance??? Friends or not, you are being ripped off. Fair enough if you want to charge them slightly under market value, but whereever you live in the country the flat has to be worth more than that!

reehsetin

if you go into whsmith they have tenancy agreements there that you can do yourself, at least take a look at one, see if theres something you hadnt thought of

littlemissmoney

Have you put your post code into right move and actually found out what market value is? What about covering your building insurance, annual gas certificate (compulsory), repairs, etc?? You will loose money at £200 a month.

garty

thanks for all advice looked upyourstreet
what a shock
found out should be charging way over 500 per month
want to help out my friend l told her how much l could get if l let it out
to be honest she does not have that amount off money
have said you can stay here for 3 month with your family
for 200 per month
but then you have to leave or pay the full amount
l know l am digging my own hole
anyway
should l have a agrement or not????

littlemissmoney

garty wrote: »

should l have a agrement or not????

Yes, without a doubt. And a (protected) deposit. And make sure the rent increase is written into the contract. If you friend can't afford £200 now, how will they afford it in 3 months time?? I think you are digging yourself a massive hole and giving your friend a lot of money.

littlemissmoney

garty wrote: »

found out should be charging way over 500 per month

...and that doesn't include council tax (£120?) and contents insurance (£10?).

Curious_Moose

garty wrote: »

l am not charging over the top rent 200 per c/m
the rent they pay will cover insurance/council tax ect
should l have a contract
which both of us sign
or just let it be

What does the etc cover? gas/water/electric/tv licence/buildings insurance/contents insurance?

I think you are subsidising them to the tune of several hundred pounds a month. Your shout of course, but just be aware of that.

And certainly get a contract drawn up.

clutton_2

DONT DO THIS - put it in the hands of an agent - you are digging a MASS:IVE whole for yourself which will come back and bite you on the bum VERY seriously - you have no idea what you are doing, nor what your legal reponsibilities are. pleease use an agent and get a fair rent - why not compromise on £400 and get her to claim housing benefit - but for goodness sakes use an agent to do it properly.