dhutch
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posted on 25/8/11 at 03:11 PM |
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Taking rent from lodgers? Legal requirments?
Following on from this thread: http://www.locostbuilders.co.uk/viewthread.php?tid=158170
Does anyone know if i need to place the deposit in a secured scheme if taking a lodger?
I know you do for a shorthold tenacy agrement, buts thats not what i have, if onyl because im a live-in landlord.
I have now found a lodger to fill my second room, and he has moved in without issue to date, put togerther a lodger agreement form based on some free
examples, one months rent as a security deposit. Jobs a fish.
Second lodger, who is a colugue and freind of mine is moving in, no issue with the contract, but isnt a fan of the deposit. Its quite clearly in the
main becuase he doesnt have the £300 to hand this month but he has managed to but an eliment of doubt into my previous research about deposits that
came to the conclusion that althought now (post 2006) you are normally required to put the deposit in secured deposit scheme, I dont because its not a
shorthold tenancy, just a room let based on the 'rent a room' scheame.
Thoughts? Anyone know?
Daniel
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mookaloid
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posted on 25/8/11 at 03:41 PM |
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I don't believe you need to protect the deposit as it is not an Assured Shorthold Tenancy. I will check but I believe this is the case.
Edit: here you go Linky which says you don't have
to.
[Edited on 25/8/11 by mookaloid]
"That thing you're thinking - it wont be that."
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spiderman01980
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posted on 25/8/11 at 05:33 PM |
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are you paying tax on the rent your getting, is it your house or are you renting?
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mads
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posted on 25/8/11 at 05:50 PM |
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if you are rent a single room in the house you live in, upto £4,250 a year is tax-free (£2,125 if letting jointly).
We gain knowledge faster than we do wisdom!
Life is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body, but rather to skid in
sideways, thoroughly used, totally worn out and loudly proclaiming... "f*ck, what a trip!"
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dhutch
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posted on 29/8/11 at 08:33 AM |
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quote: Originally posted by mookaloid
I don't believe you need to protect the deposit as it is not an Assured Shorthold Tenancy. I will check but I believe this is the case.
Edit: here you go Linky which says you don't have
to.
Thats the ticket!
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dhutch
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posted on 29/8/11 at 08:36 AM |
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quote: Originally posted by spiderman01980
are you paying tax on the rent your getting, is it your house or are you renting?
Mainly not, but proberbly a little bit.
- Im am letting two rooms (room plus use of shared areas) while living in the third.
- Basing it all on the guides for the 'rent-a-room' scheme, ie, fully furnished, etc.
- £290 a month each, so £5015 in total so £766 may be taxable.
Daniel
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Peteff
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posted on 29/8/11 at 09:42 AM |
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Have you drawn up a proper agreement. I think you should seriously consider it.
[Edited on 29/8/11 by Peteff]
yours, Pete
I went into the RSPCA office the other day. It was so small you could hardly swing a cat in there.
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