Help Needed re:- letting spare rooms

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  • Help Needed re:- letting spare rooms

    Hi, to cut a long story short I have just purchased a large 8 bedroomed house and would like to rent out some of the rooms monday to friday. My questions are what type of insurance do I need? Who do I need to tell? Are the people renting the rooms classed as lodgers? how many people can you take in? - as you have probably guessed I have never done this sort of thing before so any help would be appreciated.
    Thanks in advance

    Sophie

  • #2
    I am not the best person to answer answer but I saw this previously and it may help.

    http://www.direct.gov.uk/en/MoneyTax...ome/DG_4017804

    Alison

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    • #3
      Can you embellish a bit? What exactly are you planning to do? Just seems bizarre that you would only rent out monday to friday....
      Any posts by myself are my opinion ONLY. They should never be taken as correct or factual without confirmation from a legal professional. All information is given without prejudice or liability.

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      • #4
        basically i would just be renting out to people who work away from home monday to friday and return to their own property at weekends. I have seen a website called Mondaytofriday.com
        Last edited by chimpanzes; 22-02-2007, 20:09 PM. Reason: update

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        • #5
          Ah ok that would make sense

          I think the main thing you would probably need to be aware of is I THINK the property would become HMO licensable if you took in more than 2 lodgers. Do a search for HMO to find out more!
          Any posts by myself are my opinion ONLY. They should never be taken as correct or factual without confirmation from a legal professional. All information is given without prejudice or liability.

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          • #6
            Thanks for your help, I will look into this.

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            • #7
              Monday to Friday? Don't be bamboozled by catchphrases.

              You need to realise that because their possessions remain in your property they actually have 24/7 occupation, which in my book means they pay a full week's rent. Unless you run a bed and breakfast guest house and they pack up completely each weekend…

              You have not specified whether you will reside at this property. Is it your actual home?

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              • #8
                yes it will be our home and yes they would take their stuff with them at weekends.

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                • #9
                  To the more experienced members. What kind of tenancy is chimpanzes offering? Additionally, is this a trade or an investment?

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                  • #10
                    Originally posted by Poppy View Post
                    To the more experienced members. What kind of tenancy is chimpanzes offering? Additionally, is this a trade or an investment?
                    Let's see. It can't be:
                    a. an AST, because not only/principal home of T; nor
                    b. a Business Tenancy, because residential use.

                    I therefore suggest that it might be:
                    c. a common-law contractual tenancy; or
                    d. not a tenancy at all, but only a licence.

                    Other opinions awaited.
                    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                    4. *- Contact info: click on my name (blue-highlight link).

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                    • #11
                      This is really interesting, im a bit bamboozled but am learning so much from you lot. Thanks again.

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                      • #12
                        Could this be a bed and breakfast type business?
                        ASSUME NOTHING - QUESTION EVERYTHING!

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                        • #13
                          Originally posted by Paragon View Post
                          Could this be a bed and breakfast type business?
                          If so, legal arrangement would be licence.
                          But degree of permanence and exclusive possession point towards common-law contractual tenancy.
                          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                          4. *- Contact info: click on my name (blue-highlight link).

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                          • #14
                            Bed and breakfast? This is what I'm wondering because it may involve different accounting and tax responsibilities on top of the fact that these people are probably akin to hotel guests. [Insert: Without meaning to pre-empt the answer but if this property were run as a guest house, surely it would require permission from the local authority for change of use?]

                            Fear not chimpanzes you will have a definitive answer eventually. In the meantime may I suggest that you learn about the new(-to-you) phrases that you have seen posted here so far. Perhaps you will research and learn your answer yourself using the wider internet.

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                            • #15
                              Originally posted by jeffrey View Post
                              If so, legal arrangement would be licence.
                              But degree of permanence and exclusive possession point towards common-law contractual tenancy.
                              If I were OP, I would not grant exclusive possession.
                              I would reserve right to enter to hoover the carpets.
                              All posts in good faith, but do not rely on them

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