Sell versus rent a room.

LiltingLyrics we used to live in London and let through the London University lettings people, but they made it so complicated in the end that we gave up. We did have quite a few Monday to Friday lodgers over the years who worked either with me or DH. The advantage of this was that you could take them "for a month or so" in the beginning and then invite them to stay if it worked out well.
I rather like the short-term language school teachers that we take now, even if one turns out to be a bit of a pain it is only for a few days. Some of them come back every year, or more often, which is lovely.
I have to say that we don't make a fortune, around £150 per week per person but it tends to be seasonal. We come in under the tax-free amount (which I've always understood to be around £84 per week) when averaged out over the year. However there are different ways of calculating the tax when taking in lodgers, if you run it in a more business-like way you can set expenses off against the rent - but for us it is more of an enjoyable hobby.

When I returned to university for a year after I retired I did a weekday night, Mon - Thur renting in someone's house. It was all organised through the Student Accommodation office and although I and my landlady had little in common, even though we were both mature students, we rubbed along without stress. We shared the bathroom and kitchen and sometimes sat and chatted and shared a drink in the evening.

It gave my landlady the best of both worlds. I was only there 4 nights a week so she had nearly half a week to herself every week.

Sorry Deni1963 that should read

I'm with Niobe on this, sell and downsize, kill two birds with one stone, a complete break with your ex and a smaller house with (hopefully) less expenses. Even if you let a room to professionals you can't be sure to get someone you would get on with and it isn't that easy to get rid of someone. Whatever you choose to do, I wish you good luck in the future [flowers}

Just be careful, do all pre-checks, have a lodgers agreement in place, do an inventory, and always take a deposit at all times, do not make exceptions for anyone. I had a lodger stay me with over the last 6 months. It was the forth time that she had stayed with me, and the final month in my home, she was an unexpected nightmare. So be careful.

If I had the choice - I would rather keep my home to myself, and that is what I have decided to do now.

My advice to you is to proceed with caution, perhaps downsizing might be a good idea?

We have had good and bad lodgers, we tolerated it when we were younger in our 50s, but even the Jehovas Witness was growing cannabis on the bathroom - really, you just can't tell.
It depends on your personality if you like company, a couple of students in the house and you'll never be lonely. If you like your own company, sell and buy a nice low maintenence property you will then be free for holidays, and no worries

Hi. I have rented out my spare rooms for many years. First to language students a d then university students. The government has increased the amount you can earn to nearly £8000pa. We have had some really lovely lodgers over the years and never regretted it. Plus if you have students you always have the college housing team to contact.

Personally I would sell, because a house that size/age will always need work doing, and this can be costly. A smaller house might mean lower running costs? (But it's your choice.) While I understand that you can rent out one room in your house without paying any income or other tax, the point about "losing" the "one person" council tax is valid and this has to be considered, along with other issues which G/Netters have raised. It's very much the luck of the draw, when it comes to getting tenants.

Personally I would sell. I enjoy company, but value my privacy, and love that feeling of coming home and shutting the door on the world! Also, I would bear in mind that hospital professionals will very likely work unsocial hours with shift work, which you could find disturbed you.

Turn it into an B&b or an Airbnb. Take in foreign students, I used to get £30 a night for Japanese students after two weeks they go home. Rent out your loft space as storage. Your drive for commuters. There are quite a few things you can do

Even if you rent, the house is still slowly crumbling around you. I doubt if you would make sufficient money to cover all of the expenses and as others have said, you cannot be certain you will get on well with them.

I personally would sell, you could always buy somewhere with 2 bedrooms if the funds allow and make extra money by renting that room.

Do you really want to find you can't cook when you want to, a pile of washing up in the sink, living space cluttered with other people's stuff on the floor?

Downsize!

I'd rent the room/s out. That way, you will know whether it works or not, and if it doesn't, then you can sell!

I have an Air BnB room that I rent out as and when I feel like it, usually over Wimbledon Tennis time and it is a lot of fun, enriches my life and I enjoy it. I have discovered I love doing the "front of house" bit, complete with provision of home made biscuits and bottomless tea or coffee. (Although I don't do food at all, I say the BnB in my house means Bed NO Breakfast)

hmmm - I had a young school girl from Macau stay with me for several years through an agency. It was fabulous. I got around £110 a week, some lovely company, and we are still in touch. I am thinking of doing it again. Both money and company extremely welcome!

When we had a huge Victorian detached house we used to take in French business students (18-21) for about 6 weeks at a time. Some we were glad to see the back of, others used to come back to visit us again.

So, I’d suggest you do as ReadyMeals suggests, but have a short contract eg 3-6/months in case you don’t suit each other.

I had an elderly relative who lived alone and decided to take in a student lodger on a one year agreement. We were all terribly worried about her but he was really good. He did his own laundry and cooked and on evenings he was not out watched TV with her in lounge for part of evening. He took out bins and helped her unload her shopping. She baked him cakes and biscuits and ironed a few shirt too. It worked out well for both and after he left he sends her the odd postcard from where he works overseas now. He invited her over for a holiday but she said she was too old to fly. I really think it depends on who you let to.

Rent the room. Make sure you know all the laws and have the type of lodger who can be easily made to leave if you find you can't stand the situation. If it doesn't work out at least you'll be making the decision to move fully informed.

I agreed to help out a work colleague once by renting out a room temporarily but I didn't enjoy the experience and wouldn't do it again. If you need to make some extra cash, can you do it by other means which aren't so intrusive - e.g. renting the room for storage only, renting out a work time parking space or looking after pets for people when on holiday etc.

I used to host foreign language students.

I was required to provide breakfast, packed lunch and evening meal.

They were usually very young people and while most were well behaved there were a few that I could have done without.

If you are looking to make a profit, then don’t go there. Also, they only usually stay for a week or so. If you are looking for company, then maybe rent a room out.

Yes I can sell.

If you wish!

I know nothing about trusts but if the house is in a trust can you sell it if Cyrus wish?

That sounds like a good idea cc, to rent through an agency of some kind. A friend in Central London rents out a room through the Doctor in the House scheme.

I also recall hearing about another London-based scheme where elderly owner-occupiers were renting rooms to younger people as a below-market rent in exchange for help with household chores.

Warrington Council have published this list about which kinds of resident do and don't affect the single person council tax discount. www.warrington.gov.uk/info/201084/council_tax/1948/council_tax_discounts_and_exemptions

Sorry about garbled start to my post...

We've lived often had lodgers over the year, it suits us very well. I know that some people don't like the idea of having a "stranger" in their home, but there are ways of making this safer. We take in paying guests who come through a local English Language teaching school, they're usually European and normally stay for around a week, occasionally longer. We take the teachers who come with the groups, providing breakfast and some evening meals.

I don't know where you live, but another alternative might be a Monday to Friday lodger if you can find somebody working in the local area who lives elsewhere at the weekends, not as unusual as you might thing.

Having a temporary or part-time lodger means that you are not liable for extra council tax, I believe.