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Letting a room Advantages

Tax incentives

Safety advice

Live - in Landlords Pages.
It can be difficult to make ends meet these days. Even with low interest rates the cost of a property can leave the home owner reeling at their monthly mortagage payment. One way that many people manage to keep their budgets under control is by letting out a room in their home, or by sharing the entire property.

Advantages to letting a room in your home.
The main ones are of course financial, a monthly rent payment can make a big difference. Depending on how many people you share your flat or house with, and depending on whether they share the household bills can result in a significant cut in the cost of owning your home.

Sharing with other like-minded individuals can expand your social life and interests. It can be a good option if you find living in a house alone is lonely.

You can also feel good about providing a service and helping someone find a comfortable and safe home. The government has been so keen to encourage people to let rooms in their home that they have started an incentive scheme.

Government rent a room scheme.

Tax incentives of rent a room scheme

Safety when sharing a house.
It can be difficult to get on with your house/flat mates all the time and it is important that everyone knows what the house rules are at times like these.

Organisations such as The Suzy Lamplugh Trust (The Leading Authority on Personal Safety) publish Safety Tips when sharing(pdf) a flat or house.

LetaLife also has some safety tips for people who are looking for a tenant or flat or house mate.

You need to contact your home insurance provider when you decide to begin letting out rooms in your house to make sure that you are properly covered for associated risks.

If there is any information you would like to see on this page please email us with your suggestions

LetaLife's legal document resources links - including Letting Agreements, Flat/House Sharing Agreements, Garage or Car Parking Rental Agreement, Inventories, Statutory Notices etc

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