Times are tough and expenses and inflation seem to be on an ever-increasing spiral. Many people are looking for a way to earn a bit of extra cash. Maybe you are too?
One tried and tested way to earn extra money is to rent out a room in your home to a lodger.
However many people baulk at the idea of a stranger in their home and worry about the legalities.
This is actually a very sensible attitude. You need to be enormously careful about giving someone the keys to your house. And the increased regulation imposed over the years on regular landlords has extended to lodger landlords too.
So taking in a lodger is not something to do lightly. You need to know what you are doing and go about it in the right way. And for some people (including sadly, most tenants) it may not be something you are entitled to do at all.
Help is at hand
For many years I have run a small Lodger Landlord website with a guide for lodger landlords based on my own experience in taking in lodgers before my marriage and on my legal knowledge as a landlord and tenant solicitor.
That was linked to a small eCommerce website Your Law Store which I run with my long-term web developer Gill Bishop.
Both sites were a bit run down and we have been meaning to do something about it for years! This year we have finally done it.
- The Lodger Landlord site has been completely re-written and updated
- The Your Law Store site has also been upgraded with new products
However, our Your Law Store prices have remained the same and the Lodger Landlord site is completely free.
So let’s take a quick look at what the two sites can do for you.
The Lodger Landlord Website
This is organised into seven sections, taking you through the whole process from start to finish:
- Read First: This section has background information on legal issues which you need to be aware of when thinking of taking in lodgers.
- Condition: This deals with the preparations you need to make to ensure that your room is in a proper condition to let. We also look at the various regulations you need to comply with.
- Finding: This section covers how to find a lodger and the various checks you need to do. Perhaps the most important section being in mind that this is your home
- Financials: Here we look at the rent that you charge, along with articles on tax and Council tax, deposits and insurance.
- Paperwork: Although many lodger landlords don’t bother with paperwork, this is not a good idea – as you will find if things go wrong. In this section we look at the paperwork you will need.
- Life with a lodger: Here we look at issues that may crop up when you rent a room and give advice on how to deal with them.
- Ending: Most lodger arrangements end amicably – but sadly not all. In this section we discuss both and provide a procedure for removing an unsatisfactory lodger, should this be necessary.
The site is, as it has always been, totally free. So what’s not to like?
Your Law Store
This is where we earn our money and our lodger agreements and lodger packs have been steady sellers for years.
For the re-launch I have prepared a few new documents (all with guidance on how to use them) including a lodger guarantee, an inventory form, a data information notice and (in the letters section) a letters guide for when you need to ask your lodger to leave.
The letters section also has our reference letters plus a few individual letters too. We hope to add to this over time – so if there is a letter you think is missing, let us know and we will consider adding it.
The forms are all provided in pdf format and are re-usable. So you only need to buy them once. They can be downloaded after payment and used immediately (we have a help section if you have any issues).
Parking forms
Even if you don’t want to share your home with a stranger, you can still make a bit of cash by renting out your garage or drive as a parking space.
If so – Your Law Store has some forms you can use for this.
And finally
If you are considering renting a room in your home to a lodger please go and take a look. Even if you are an experienced lodger landlord the site should be helpful and can serve as a useful checklist.
The companion Your Law Store website is a quick and easy way to get the forms that you need – and a way to thank us for the free guide, should you wish to do so.
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