Advice on renting out spare room(s)?

Soldato
Joined
26 Aug 2012
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North West
Currently own a house and looking to rent out 1-2 rooms in order to earn a bit of extra money.

Has anyone here at OCUK done something similar? Any advice would be much appreciated, such as things I would have to do/provide or things to be careful of!

I would be adding locks on my bedroom/en-suite and home office doors just to be safe, but I can't think of anything else really to watch out for. Should I take a deposit etc? Do I need insurance? that kind of thing.

Thanks in advance!
 
Soldato
Joined
12 Apr 2007
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11,787
Definitely take a deposit, and get rent paid in advance, not in arrears.

Also buy an off the shelf contract to sign, or download one from somewhere, they are standard contracts so you don't need a taylor made contract.

I say this as Ive let my spare room out to friends of friends andbboth times they never paid on tim, lleft a mess and left owing arrears. Make them set up a direct debit, no cashing hand as there will be excuses.
 
Soldato
OP
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I'll defiantly need to check with my house insurance, but the mortgage part of it is ok as I don't have one. I'm assuming it will mean I won't receive single occupancy discount on council tax?
 

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Soldato
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Unless you desperately need cash I wouldn't do it. Other than money you're very unlikely to get any benefits from having a stranger live with you whereas you do open yourself up to many negatives.
 
Caporegime
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Godalming
I did it for a while, never again. All the tenants we had were filthy pigs and one was a couple which had just moved over from Spain. Absolutely disgusting people. They lived here for 6 months and during this time I tried to help him get a job but it was like banging my head against a wall. His girl was doing alright so he had no intention of carrying his own weight. Sat in his room for 22h a day (no jokes), wore the same tracksuit pants for weeks on end, just filthy disgusting people.

They damaged loads of our stuff, like using our nice knives to scrape food off the bottom of our Teflon pots, they melted some plastic utensils on hot pans, and there is still a spot of rust on the tiles in the spare bathroom where they had a cheapo stand rusting into oblivion there.

Obviously this was quite a bad case but after having four different tenants, never again. You'd be amazed at how little people give a toss about things they don't pay for.


Edit: we were charging £700 a month for the room, so not bargain basement. I can upload photos but I'm not sure you want to see them.
 
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Permabanned
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Edit: we were charging £700 a month for the room, so not bargain basement. I can upload photos but I'm not sure you want to see them.

I pay £750 for 650 square feet apartment in downtown Chicago near the lake, with sauna,gym,pool, bar in the building and all included (apart from bar ofc :D)

£700 for a room in a house? You gotta be peeing me.
 
Soldato
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Enfield
I pay £750 for 650 square feet apartment in downtown Chicago near the lake, with sauna,gym,pool, bar in the building and all included (apart from bar ofc :D)

£700 for a room in a house? You gotta be peeing me.

I'm paying £675inc. per month in Wimbledon for a room. That's what London rental prices are like - flippin' mental :(
 
Permabanned
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london
If you do it just be careful who you get in. Anyone will have their negatives. Don't take the first one that comes just say you will get back to them then do a short term lease to start with 6 months so if you change your mind, you not stuck with them.
 
Permabanned
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I'm paying £675inc. per month in Wimbledon for a room. That's what London rental prices are like - flippin' mental :(

I am sure if someone were to take away the cost of ammenities, this place would be like 800$ a month tops...

Just to give you an idea what the building has;

7th Floor

400 East Fitness & Spa

Hospitality room, including full kitchen (available for rent)

Library

Public restrooms

Restaurant and bar

Hair salon

Management Office

6th Floor

Resident parking

Lakefront children’s academy

5th Floor

Garage entrance and exit

Guest Parking

Lobby/doorman

Reception/front desk (312) 321-0600

Security (312) 321-0600

Mailboxes/mailroom

Bulletin board (community and building news)

Package & receiving room (Mon.-Fri. 4:30PM-6:15PM, Sat 8:00AM-4:00PM)

Newspaper vending machines

Recycling bins

Gurney and hanging carts

Bike room

4th Floor

Resident parking

Air hose and car wash

3rd Floor

Resident parking

2nd Floor

24-hour laundry room

Dry cleaners/tailor/valet

Storage locker areas

Bulletin boards (building and community news)

1st Floor

Receiving room and dock areas

Bicycle room

400 East Fitness & Spa

Newly renovated and opened November 2009
Brand new, state of the art equipment
Free Wi-Fi
Racquetball and basketball courts
Heated swimming pool and hot tub
Men’s and women’s locker rooms with showers, steam rooms, and saunas
Children’s play area
Sun deck
Winter garden
Rental Cabanas


I remember that rooms were going for around 85pw in Cambridge, I guess London is different.
 
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