Fire safety advice for landlords
- 3 December 2014
- Tips for Landlords
In 2012 to 2013 the fire and rescue service attended 192,600 fires. More than a third of the fires which were in…Read More
Home owners do not always use a property entirely. Often landlords live in a property where there is extra space unused such as spare rooms or even a whole floor which is barely visited in a day by day basis. To overcome the housing situation in London, the government is pushing in the house lodgers for landlords who in their only, or main home, have extra space available for housing. Landlords can take a tax-free yearly profit from renting a spare room within their property of up to £4250 (above this amount, taxes have to be paid). The landlord is only entitled to keep the property safe and in good repair and, in exchange, the rent payment and the shorter letting termination notice are part of his/her benefits.
So, how can this be done? Follow our guide and find out how to turn the empty space in your property in London into benefits:
In conclusion, taking in a lodger can be a very profitable solution for that extra space at home. It is easy to do and very beneficial for property owners. For more information, visit the Shelter website or contact the Mind The Flat team for support.