A GUIDE FOR THE BUD­DING RIGSBY

The Sunday Telegraph - Sunday - - Property -

In­land Rev­enue al­lows tax-free earn­ings of up to £4,250 per year un­der the rent-a-room scheme, but you must live in the house.

Usu­ally there is de­mand if you live near a col­lege, uni­ver­sity or large em­ployer. Many home own­ers in the big cities rent rooms out dur­ing the week only to com­muters.

Lodgers have no se­cu­rity of ten­ure, they oc­cupy your home on li­cence.

In­form your in­sur­ers and mort­gage lenders, al­though it’s un­likely they will have ob­jec­tions.

You should have a for­mal agree­ment which sets out house rules and no­tice pe­ri­ods. Usu­ally one-month’s no­tice on ei­ther side will be con­sid­ered rea­son­able and will suf­fice.

Look for a lodger through www.spare­room.co.uk/lodger, www.mon­daytofri­day.com or www.land­lord­zone.co.uk.

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