Moving house - Potential lodger

OpenToSuggestions · 13 May 2013 at 22:58

Hey all.
Very soon I intend to get the keys to my first house.
I don't need a lodger, but it would make life much easier during the first few months.

I have never had a lodger before so am unsure what the elgal rules are and am looking for any general hints & tips.
The person who wants to rent a room is a graduate at the company I work for and isn't some random idiot.

We intend to sit down in the next few days to discuss what we both expect and talk money.

I am just looking for pointers from people who have had lodgers in the past

.

Raumarik · 13 May 2013 at 23:01

It's your first house, enjoy it for a few months before taking in a lodger - you may find you prefer not to have one.

Is it a friend you already know - if yes then I wouldn't bother, that just muddies the water.

If she's hot, then yes.

Puzzled · 14 May 2013 at 00:49

Halfmad said:
It's your first house, enjoy it for a few months before taking in a lodger - you may find you prefer not to have one.

Is it a friend you already know - if yes then I wouldn't bother, that just muddies the water.

If she's hot, then yes.

If he's going to have a lodger then it might as well be from the beginning, the other guy can help with the decorating.

Even if you know the person moving in well, get everything down on paper.

Also think about how you want to live in your own home and what you are prepared to sacrifice.

For example which rooms in the house would be accessible, any days you want the place to yourself, parking issues etc

Bromhead · 14 May 2013 at 03:22

I have done this with my first house, we bought a 4 bed detached, me and my partner in one room, partner's sister in another, another friend in the third bedroom. In total two lodgers, we don't need lodgers but it has been great and actually more than covers the mortgage payments. We're effectively living mortgage free right now.

OpenToSuggestions · 14 May 2013 at 22:11

Thanks for the replies.

Anything I should do legal wise?
I will get house insurance to cover a lodger and of course include council tax as the 25% single occupancy discount is void.

Bromhead · 14 May 2013 at 23:19

Yeah, even if it is family or friends, you need to write up a contract just so that there are no misunderstandings. It could save a friendship in the long term.

I believe you also have to declare the income of the lodger to HMRC, but I imagine it will be below the threshold so will likely be tax free anyway. (I think it's around £350 and some change per month the limit).

Finally, in terms of the house our personal experience was the Bank wasn't too interested but they did have a few ground rules, which comprised of the following.

-No more than two lodgers.
-No locks on doors.
-Lodgers must have access to all areas.

I would check with your mortgage advisor to see if they have their own rules or guidelines, as it may vary between Banks.

Mr Jack · 14 May 2013 at 23:23

Get them in quick before you get used to not having them there. Search the interwebs for lodger contracts and modify one to your needs.