Renting a room to a friend

[Robby]

I'm renting out my spare room to a friend of mine. I need to sort out a contract to stop her from taking me for everything I own. one of these days.

Anyone know where I can find an easy contract template? I understand I should also get a rent book to keep track of her payments, and I should declare the income in a self assessment tax return at the end of the financial year, although I'm told that it shouldn't cost me anything because of a threshold of around £5k. She's paying £350 a month, so only £4200 of rent per year.

So, contract template? A quick google wasn't particularly useful.

[Flip]

[Luke_Retrofly]

Can she not pay you in Sexual acts, seems alot simpler
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[MarJay]

[AC]

I think i have seen something like this in WhSmiths, so have a look in there.

https://www.whsmith.co.uk/CatalogAndSearch/SearchWithinCategory-%5CStationery%5CLegal+%26+Accounting.html

there are some on this page.

[panrider_uk]

When I rented out the flat above my old shop I don't recall getting any allowances. I'd have thought it would get taxed as income at whatever rate you're on.

Mark
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Current bikes: Honda ST1100 Pan European. Moto Guzzi V85 TT Travel

[Dom]

Cash discount?
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Photos and that

[Phoenix]

Yes rent is an income therefore it's taxed, you have a 5k allowance on earnings before tax but that will all be taken care of in your PAYE at work. Maybe there is a rule about tax free rent in your own home, I've certainly never heard of it though.

[neil.]

I always thought there was a certain amount of money you could take as rent before being taxed, or am I wrong?

https://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_4017804
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[colin1]

[instigator]

Get some nudie photos of her (somehow) and use that as blackmail not to fuck you over.

[SlimRick]

Hidden webcam in the room - set up a subscription service and profit

[Devils Advocate]

[SlimRick]

Call it a security system with remote monitoring.

[Devils Advocate]

To the op...do you want me to type out my rental agreement so you can copy it.?

I wouldnt declare it if it`s a friend tbh.Whos going to know?
Just make sure she pays you cash and ask if she`s cool with the idea first then you dont drop yourself in the crapper later on..


Not a good start to a living arrangement though if you dont even trust her and she`s not even moved in yet.
Doesnt sound like much of a friend to me.

[Devils Advocate]

[colin1]

[Robby]

Children, children, of course I'm tapping that.

Thanks for link Mr Martin, that's the thing I was looking for.

I may take your advice on board Marje, would be easy.

[colin1]

If you are thinking of paying a solicitor to draw something up for you, I'd suggest a pre made pack instead.

Its cheaper. Some solicitor has been consulted to make the legal documents, they are then just mass printed and boxed up and sold.

I think you can get them in stationery shops or similar as I've seen them.

google says there are web based versions

https://ezinearticles.com/?Downloading-Free-Tenancy-Agreements---A-Checklist-for-UK-Landlords-Wanting-Free-Tenancy-Agreements&id=741392
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[iooi]

[Devils Advocate]

[Phoenix]

[Annabella]

[Lulu]

A friend of mine rented a room to his girlfriend, and he found out that if he didn't have her sign a contract, or have a rent book for her, she could have taken him for half his stuff when she left as she would have been classed as his common-law-wife.

Fortunately, she was a decent girl (although it would have been funny ).

[Lulu]

Double post