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Renting Out A Room In Your Home – Get It In Writing

Renting out a room in your home is a great way to make some extra income. However, it is important to make sure you handle the process correctly so that you are protected. One of the critical steps is ensuring there is a written agreement between you and the lodger. For more information about this, read on.

Having a written agreement between you and the lodger is highly recommended. A lot of people overlook this because they think it is not necessary and because it takes the time to put one together. However, by having everything in writing, it can save disagreements later down the line. So, what sort of things do you need to include in a written agreement when you rent a room out? You should first deal with the matter of rent – how much it is, how you would like it to be paid, when it is due, and how long until it is reviewed. Other important factors to include are the notice period, access to keys and what happens if they are lost, and house rules; for example rules regarding visitors, pets, and smoking. Details of what is and is not include when renting out a room are also important, for instance, whether you are going to charge for utilities and, if so, how they are calculated, as well as insurance. Finally, include details of any services you agree to provide and which rooms and facilities the lodger is entitled to use.

If you are renting out a room in your home, you can begin your tenant search at Bellrooms Ltd - https://www.bellrooms.com/. We also have a FREE tenancy agreement (Short-Term Licence to Occupy Agreement) to template to download. At present, we have a limited time offer, which enables you to post up to 20 listings free of charge. You will struggle to find a deal as good as this anywhere else on the Internet. For more information, give us a call on 01483 698 677.