Renting an apartment and subletting the other room

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    Renting an apartment and subletting the other room

    hi

    I want to rent a 3 bedroom apartment in my name only, and sublet the other two rooms. Assuming i have permission from the landlord, what other factors should i consider.
    Is there any restrictions on what i can charge for the other rooms.
    I assume i would be considered a landlord Do i have any additional tax requirements?
    Is it better to a sub lease agreement with the other tenants or should i just have lodgers ?

    any advice would be greatly appreciated

    regards
    Mike

    #2
    You would be responsible for declaring rent income of your lodgers (assuming this is your permanent residence) to HMRC (all of it..) and any relevant benefit agencies.

    You would be lodger's landlord: Suggest you get copies of lodger agreements signed & inventories, photos, done, and work out what you are doing over electric, gas, council tax, broadband, water bills etc etc
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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      #3
      Just take them on as lodgers, rent pays all current bills - If they want an extra channel on sky fine but they pay for this as an extra.

      For gods sake dont put locks on the door and hoover the rooms once a week, proves you have control of that part of the building and you havent sublet/given the occupant sole use of that area.

      The other matter for which I fell foul of, me and two lodger (friends) who came after Id rented the place, landlord said it formed a HMO so they asked me to get rid of one of them - Lucky for me one was female so I said she was my girlfriend (poor woman!), HMO rules in this case didnt matter as she was part of my household with just one lodger.....

      Ive never issued a lodger agreement, but I make it clear that if they F around and cause problems they are out but if I need the room back then its 2 weeks notice minimum, ask for one weeks rent as a deposit. Low deposit means youll get load and loads of people applying, you can take your pick then.

      How much can you charge ? Whatever you want, Ive found lodgers are in manual low paid jobs so I tend to keep the rent lowish, £35 (ive found) is around the cost of having lodger (extra bills etc) so I look at £80 - £100 per room (total house rent is £160 pw)

      I target personnel offices in local firms asking them if they have a staff notice board I can advertise on, offering rooms - works well for me, also means they are working.

      Comment


        #4
        Your landlord would be an idiot to give you consent to take on two lodgers.
        It would make the property an HMO - which it won't be built for, so it won't be insurable (and may breach planning and licensing regulations, which can be very expensive).

        If you take on lodgers and move out, the landlord has new tenants with no agreement, which is not great.

        Most BTL mortgage lenders and insurers won't allow this kind of arrangement.
        When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
        Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

        Comment


          #5
          Take in 1 paying lodger and claim approx. £6500 pa as tax-free Rent a Room Allowance. This would require you to complete an Annual Tax Return for each year.

          Comment


            #6
            If you take on lodgers and move out, the landlord has new tenants with no agreement, which is not great. - They become like 'tolerated trespassers' to use an old phrase

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