Help! Paperwork-what kind?

[LandLordo]

Hi, just a quick question to keep me on track here, I'd be very grateful for some advice from the people in the know - say I have three rooms for rent in my big new flat, and I would be staying in the fourth bedroom, what paperwork should I use with my tenants?

Also would I need to register with the council to do this, or would you not recommend it?

Finally would this be totally illegal due to HMO licensing, or is this a different matter as I actually live in the property?

Any help would be greatly appreciated!

[SPEEDTWIN]

In my experience hmo licensing rules can change from council to council (i know it should`nt).

I was having a conversation with the man from my local council friday about renting rooms out in the house you live in and sharing bathroms/kitchen. He told me a single person is ok but a couple in the same room comes under hmo rules. So I then asked about a single mother with child in the same room and he said that was ok and did`nt come under hmo rules. Confused? I know I am

[plym77]

Hi!

Remember that from a tax perspective, renting furnished rooms in your home (that you live in) can qualify under 'Rent-a-room Relief' which would mean that the first £4,250 of rent received per annum can be received without paying tax. That is not per room however.

Regards

Sherena

[LandLordo]

Hi, and thanks for the replies, it's going to be interesting to see how it pans out...

[GPEL]

Before you go down the route of HMO licensing, you might be classed as a landlord in residence and HMO regs may not apply if you are just renting out spare bedrooms. You may only need to use a license agreement, which avoids the security of tenancy for the occupant under ASTs and notice requirements.