Thinking of letting a room

aaabbbb

Ok so I'm heading back to college soon and was thinking about renting out my room at home so I could use the money to pay for my own rent. I've asked my mother and sister if it was fine by them and they were all for it. My mam regularly has students stay anyways as apart of digs style accommodation so I doubt an extra person would really make a difference.

My room is quite large, has a 40 inch HD TV with sky +, 2 large wardrobes , king-size 7ft long bed and has an en-suite also. The house itself is in a moderately sized estate in north co Dublin. Close to the shop, train station etc. and it's only 20 mins into town on the train.(also has fibre powered broadband/wifi)

So I'm thinking someone may like to rent it right ?

Or am I wrong , would living with my mother and 17 year old sister(who are both never home) and the family dog be a huge hinderence to getting it let out ?

Has any one any experience in doing this before ??

What do you think I should be asking for money wise ?

Any other advise ??

StillWaters

How would you profit from this? Its your mam's house (presumingly), so her decision, her profit.

If you are OK with your mam letting your room out, you can't comandeer it at weekends, or when you are home,

Merch

you are obviously taking the piss, if you dont own it how can you profit from renting it?

aaabbbb

StillWaters wrote: »

How would you profit from this? Its your mam's house (presumingly), so her decision, her profit.
If you are OK with your mam letting your room out, you can't comandeer it at weekends, or when you are home,

The money generated would be given to me to be used to pay my rent at college as previously stated....

Also I would be the one primarily responsible for the managing of the letting of the said room. Since this sort of stuff is sort of a family business if you will and the mother reasons this would be a good opportunity for me to get some experience by starting off small.



Well that's rather obvious :rolleyes:

I don't come home ever , not even for Christmas usually, so that wouldn't be an issue. I don't even normally return for the summer holidays ,just this year I didn't have a job and thus no money for rent etc. so I moved back home. Besides its a 5 bedroom house if it really were a problem (which it isn't ) I could always just make one of the spare ones my new room.

aaabbbb

Merch wrote: »

you are obviously taking the piss, if you dont own it how can you profit from renting it?

As I said before and in my original post the money generated would be given to me to pay my rent.... thus me profiting

and I'm also deathly serious

sportfanatic

I think its a great idea. With it being a 5bed house I'm wondering if there's an opportunity to rent out the other two rooms also?

aaabbbb

Mam wants to keep the other 2 rooms for her own personal use for when family stay over / she has students in (which she takes in on occasion) .

However it could prob be easily arranged if i pitched it right to her.... :P

Baraboo

Would you expect your mother to cook meals for them? clean the toilet after them? What sort of service exactly are you providing?

This does remind me of a friend of mine whose 18 year old son invited his girlfriend to come live with him in his bedroom and did not think it was necessary to consult his parents.

StillWaters

Really you are asking about the implications of your mother renting out a room in her house to earn a bit extra money to give you to help you out in college.

The problem is with taking in students this might take her over the threshold for the rent a room scheme so tax would be due.

Forget the idea this is your scheme/business etc. The contract is between your mother and the tenant. It has nothing to do with you.

aaabbbb

Baraboo wrote: »

Would you expect your mother to cook meals for them? clean the toilet after them? What sort of service exactly are you providing?

Hardly....that's exactly like asking if you think your landlord would come over and clean and cook for you ! I think not....

It would be exactly like renting any other room in shared accomadation . It just will be owner occupied.The tenant would be responsible for cooking and cleaning etc themselves.

This does remind me of a friend of mine whose 18 year old son invited his girlfriend to come live with him in his bedroom and did not think it was necessary to consult his parents.

This is a completly different situation . I have consulted with the other occupants of the house and their fine with it also the tenent would be paying rent etc. and have nothing really to do with the rest of the family.

"The problem is with taking in students this might take her over the threshold for the rent a room scheme so tax would be due"

That's one thing I was wondering also , she tends to take them in on more of a sporadic basis than anything and usually its only during the summer for 2-3 weeks so I'm not sure if it will effect this ?