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Renting Out A Room – The Legal Considerations

Renting out a room is a very common thing to do. Across the UK, homeowners and renters are beginning to recognise that there is money to be made from their spare room or, indeed, any other type of space in or around their home. However, before you decide to rent a room out for whatever purpose, you must first be aware of any legal responsibilities and ramifications. The likelihood of any of these points becoming an issue is slim, but knowledge arms you against any potentially stressful circumstances later on and allows for your peace of mind at all times during the agreement.

Options To Rent A Room Out If You Are A Homeowner

It’s frequently the case that, when you think about taking in a lodger or a subtenant, you are the homeowner renting out a room or rent my space. This means that there are certain legalities you need to understand and accept. Before you do anything, you first need to assess whether renting out a room is allowed by your mortgage agreement or whether you need permission. If permission is needed, you should write and ask your lender for consent and explain your situation. If you don’t check your agreement and seek permission if necessary, you could encounter problems further down the line. The next thing you need to understand is the difference between a lodger and a tenant. A lodger lives with you, renting out a room in your home but having no exclusive power over it. This means that a landlord can enter the room when they wish to, for example, clean and they don’t need the lodger’s permission. A subtenant, on the other hand, has more rights so a landlord would need permission to enter their room. It’s also worth remembering that there are other legal and financial ramifications to taking in a lodger or subletting a room. For instance, if you currently live alone and receive a 25% council tax reduction, this would be removed as soon as your tenant moved in unless they were a full-time student. Similarly, there are income tax and home contents insurance ramifications you should be clear on before committing to renting your space.

Renting Out A Spare Room When You Are Yourself A Tenant

Being a renter in a property owned by another party doesn’t necessarily preclude you from earning money by renting out a spare room. However, you need to be very clear about whether the practice is allowed and so you should consult your tenancy agreement to be certain. Often, whether it’s allowed depends on the type of tenancy you have and who with. For example, secure and flexible tenancies offered by local authorities offer the legal right to take in lodgers, although the landlord may need to be informed. However, if you are an assured tenant, your tenancy agreement may forbid lodgers entirely or impose stringent regulations. This counts for assured shorthold tenants as well. Along with your existing tenancy agreement, there are other financial considerations to remember when renting a room. For instance, you may not be better-off financially if taking in a lodger affects some of the benefits and tax credits you receive. For this reason, you may want to consult an adviser who can help you work out your financial situation. If you can rent out room in your home, it can be a very rewarding experience both financially and socially. As well as earning money from your space, you’ll be helping someone rent a space they may not otherwise be able to occupy. A company like Bellrooms Ltd can help you find the perfect lodger or tenant for your home. It enables you to advertise your available room and to be clear about the type of lodger or subtenant you’re looking for.

Renting Out A Room Made Easy With Bellrooms Ltd

With Bellrooms Ltd, renting out a room has never been easier. You can quickly add your room to our site, ensuring it’s searchable for potential tenants in your area. We don’t deal with promoted adverts so the order you see on the site is simply the order that the adverts were placed in. This means that, as a landlord, you have as much chance of being seen by those wishing to rent a room as the next landlord. To place your ad online free for now, visit our website at https://www.bellrooms.com/ and discover what you can earn with your spare room or free space.