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

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]

are you paying tax on the rent your getting, is it your house or are you renting?

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).

quote:

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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.

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quote:

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Originally posted by spiderman01980
are you paying tax on the rent your getting, is it your house or are you renting?

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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]