Are you looking to rent a room and take in a lodger?
The good news is that renting a room in your own house can earn you money. The better news is that this is tax-free money under the ‘Rent a Room’ scheme. And the best news is that renting a room to a lodger is easy.
Taking in a lodger can be a straight-forward, stress-free process from start to finish. Your time sharing your house with your lodgers should be a pleasure. And it will always be… as long as you follow some basic rules.
This essential legal guide to Taking in a Lodger gives you everything you need to rent a room to a lodger whom you are comfortable with. So stop thinking about it and rent a room today with this short but clear guide to lodgers and renting a room.
Your essential legal guide covers:
The HM Revenue & Customs Rent a Room Scheme
Find out how you can collect up to £4,250 every year from your lodger and keep this rental income tax-free.
How to find a lodger and the security checks you should perform
We provide an example Lodger Application Form and discuss what level of security checks are advisable, and tell you how much these will cost and how you can simply do them.
Renting a room and Health & Safety compliance
We list the standards and laws that change when your house contains a lodger and tell you what you need to do to comply with these laws.
Lodgers and Insurance
We discuss the ways that renting a room to a lodger may affect your insurance policy or mortgage.
The Lodger Agreement
We walk you term-by-term through the Lodger Agreement so that you are comfortable and clear with what it is that you are agreeing to in a Lodger Agreement.
Time to move on?
We discuss the notice you need to give your lodger and the best way to end a Lodger Agreement. We also discuss what you should do if things go wrong and provide template notice letters to be given to problem lodgers and those in rent arrears.
Taking in a lodger is easy. And it gives you an instant tax-free income. Find out just how easy it should be with our essential guide to Taking in a Lodger.
About the Author
Tessa Shepperson is a specialist lettings lawyer, author and lecturer, well known as an expert in her field. She is also the author of Residential Lettings: The Complete Guide and The Essential Landlord's Guide to Tenants’ Rights, also published by Lawpack..
Lodger and Tenancy Agreement Links:
- Lodger Agreement
- Lodger Letters: Bundle of 12 letter templates for just £9.99
- Lodger Application Form
- Starting Up and Running a B&B Guide
- Notice to Terminate a Lodger Agreement
- Notice to Terminate a Short Assured Tenancy Agreement (Scotland)
- Section 21 Notice (England and Wales)
- Section 8 Notice (England and Wales)
