Are you a lodger landlord?
Or, are you thinking about it? Its something more and more people are doing, what with times being hard and the price of things going up and up.
Win win, but …
It is also a good thing to do so far as society is concerned – we have a shortage of housing in this country so the more people who rent out a room in their home, the less people there will be in the streets. So its (mostly) win win – more money for you and less homelessness all round.
However taking in someone who you don’t know, to live in your own home can be a chancy business. Most times it is fine. However, inevitably there are quite a lot of people around who, if you knew them better, you would not leave alone in your house to rummage through your cupboards while you are out.
Choosing the right person is everything
As with renting a property to a tenant, choosing the right lodger is all important. In my Your Law Store ecommerce site, we have a new product out – the New Lodger Pack. This has a lodger application form, checklists and letters you can use to get references and check out potential lodgers.
It also comes with detailed guidance notes, which will help you through the process. If you buy the ‘plus’ pack you also get my lodger agreement thrown in for good measure at half price (the pack price goes up by £6 and the lodger agreement normally sell for £12).
I normally write about this sort of thing on my Lodger Landlord site, but I expect many of the visitors to this site will also have or be considering a lodger. You can read more about the new packs >> here.