Should I take in a lodger?

Taking in a lodger – especially if they’re a stranger – can be a daunting decision. Often the extra money alone isn’t enough to convince prospective landlords to take in a lodger because there’s plenty to consider, many of which is discussed in the advantages & disadvantages of a lodger article.

So should you take in a lodger?

Due to financial circumstances, many people don’t have a choice but to take in a lodger; the extra income is their only lifeline. But if you’re still umming and erring, the odds are you’re not in such dire circumstances, so you have the luxury of being able to assess whether the advantages outweigh the disadvantages (or vice versa). The usual argument is ‘extra money’ Vs ‘loss of privacy’

While the extra money would be great, is it worth the privacy we’ll potentially lose?

The reality is, you’ll never know if living with a lodger is right or not for you unless you try it. But it’s also important to only make a decision you’re completely comfortable with and prepared for.

If you’re really on the fence, it’s often reassuring to remember the following two points:

• 95% said that taking in a lodger is a positive experience
  SpareRoom.co.uk (one UK’s house sharing portals) surveyed hundreds of landlords, and the results showed that 95% of landlords had a positive experience with taking in a lodger. Even those that did have a negative experience, almost half said they’d try it again.
• It’s relatively easy to get rid of lodgers
  As discussed (in the ‘advantages & disadvantages of taking a lodger’ article), it’s relatively easy to get rid of a lodger as long as proper notice is served. To clarify, it’s nothing like evicting a ‘tenant’, which we’ve all heard the horror stories about- they can often be very complicated and expensive affairs. That means that if you decide that living with a lodger isn’t for you (or, if you’re simply not happy with your current lodger), it really isn’t that much of a big deal to get rid of them.

If you haven’t read it already, you should jump over to the advantages & disadvantages of a lodger article – it may assist further in helping you make your decision.