Renting out a spare room to a complete stranger might seem daunting but it is a move that can come with big benefits. It can not only provide you with a financial boost but also means extra space in your property is occupied and taken advantage of. On the flip side, if you’re a lodger the idea of moving in with a landlord may also sound odd at first, but it means sharing the cost of rent and bills and not having to face the prospect of living alone.
There are clear reasons for both parties to take this step, but it’s fair to say that landlords and lodgers alike benefit from the peace of mind that a lodger agreement brings. We’re going to take a look at the basics you need to know about this, including how to develop the best lodger agreement for you and why sourcing a lodger agreement template free could prove beneficial.
What is a lodger agreement?
A lodger agreement is, of course, a document which sets out clearly in writing what is expected of both a lodger and landlord when they live together. There is an obvious benefit to drawing one up, as it means that – whether you’re a lodger or a landlord – you will fully understand your responsibilities and also have something to refer to if any potential problems arise further down the line.
What works best for landlords?
A lodger agreement could include all manner of things specific to the property in question. However, as a landlord, the chances are that the best lodger agreement in your situation would have references to:
- Any specific house rules you want to enforce;
- When rent should be paid;
- Any expectations in terms of cleaning or other chores;
- Further details on how bills will be paid;
- Other issues like preparing meals or help with food shopping.
What would a lodger’s priorities be?
Many of the same issues apply if you’re a lodger. After all, you need to know when rent is due and what is expected of you if you want to maintain a strong relationship with your landlord.
However, other issues that you may want to see included are details on your landlord’s safety responsibilities and how they intend to keep the property in a good state of repair. Furthermore, if the landlord has taken a deposit, you may want the agreement to stipulate when those funds will be returned to you once your arrangement has come to an end.
Getting the best of both worlds
Ultimately, landlords or lodgers both want the same thing – to ensure that the living arrangement always remains a happy one. With that in mind, it is clear that the best lodger agreement for both of you is a comprehensive document covering all aspects.
The idea of creating such a document may seem complex at first but there are many sources online where you can get a lodger agreement template free and such sites tend to provide some guidance on how to draw up a document which meets your needs. Alternatively, it is well worth seeking specialist advice on getting one prepared or if you have concerns regarding an agreement that has been presented to you.