netheredge   10 #1 Posted January 5, 2011 Hi all. I need help because I want to advertise a room which i'm going to let.  Can anyone give me advice on rules? general do's and dont's (all barring the common sense ones).  I dont know how to approach this or where to even start and i would be willing to pay for help with this.  Many thanks Share this post Link to post Share on other sites Share this content via...
Andy   10 #2 Posted January 5, 2011 I know you can earn £4,250 per annum before having to pay tax - see http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_4017804  The only other advice I can give is make sure it's someone you can trust and get on with, and make sure you agree in advance how things like bills will be split and how much notice you will each give each other to move out.  Make sure your insurance covers your property while you have a lodger, too. Share this post Link to post Share on other sites Share this content via...
margarete   10 #3 Posted January 6, 2011 If you presently live on your own, then unless your lodger is a student or member of another exempt group you will need to pay higher Council Tax. Share this post Link to post Share on other sites Share this content via...
biotechpete   10 #4 Posted January 6, 2011 It might be a good idea to put together a short "periodic excluded tenancy" agreement to cover things like rent & bills, use of the property, liability for damage and repairs, notice periods etc.  more here: http://www.direct.gov.uk/en/HomeAndCommunity/Privaterenting/RentingOutYourProperty/DG_189125 Share this post Link to post Share on other sites Share this content via...
