Yes, you will be considered a “live-in landlord” or “resident landlord” if you rent out a room in your home while continuing to live there. This classification comes with specific rights and responsibilities, but generally offers more flexibility than being a traditional landlord.

As a live-in landlord, your tenants (often called lodgers) have fewer rights compared to tenants in properties where the landlord doesn’t live. Key points include:

• You can give less notice to end a letting than if you rented out the whole property
• Tenants cannot challenge the agreed rent
• You maintain more control over the shared living spaces.

We understand the importance of finding the right person to share your home. Our process includes:

• Thorough vetting of potential tenants
• Checking references and financial status
• Considering lifestyle preferences and habits
• Offering a trial period to ensure a good fit.

Most importantly, we’ve developed advanced lifestyle preference and filtering options to make it easier to find suitable candidates that complement your living habits. This system allows us to:

• Match you with tenants who share similar routines (e.g., early risers vs. night owls)
• Consider dietary preferences and cooking habits
• Account for noise tolerance levels
• Match hobbies and interests for potential companionship
• Align on cleanliness and organization standards
• Consider pet preferences
• Match on social habits (e.g., preference for quiet evenings vs. frequent guests)

By using these detailed lifestyle filters, we significantly increase the likelihood of finding a tenant who will seamlessly fit into your home environment and daily routines. This tailored approach helps ensure a harmonious living arrangement and increases satisfaction for both homeowners and tenants

While no rental situation is 100% guaranteed, we take several steps to ensure consistent income:

• Careful tenant screening for financial stability
• Setting up automatic rent payments
• Offering rent guarantee insurance options
• Providing support in case of payment issues.

Finding the right tenant is crucial, and our Lets Homeshare platform makes it easier than you might think. Here’s how it works:

• You’ll create a detailed profile on our platform, specifying your preferences and requirements
• Potential tenants also complete comprehensive profiles on Lets Homeshare
• Our advanced filtering system matches you with compatible candidates based on lifestyle, habits, and preferences
• You can easily browse and filter through pre-screened potential tenants
• We handle initial inquiries and screenings to save you time
• Only the most suitable candidates are presented to you for consideration

This streamlined process typically results in finding a good match within a few weeks. Our large database of verified tenants, combined with targeted advertising of your room, ensures a pool of quality candidates. The detailed profiles and filtering options on Lets Homeshare significantly increase your chances of finding a tenant who will fit seamlessly into your home and lifestyle

Renting out a room can provide significant financial advantages:

• You can earn up to £7,500 per year tax-free under the Rent a Room Scheme
• Additional income to supplement your pension or savings
• Help with mortgage payments or household bills
• Potential for long-term financial security.

As a live-in landlord, you maintain substantial control:

• You can set house rules about use of shared spaces, guests, etc.
• You have the right to enter the rented room (with proper notice)
• You can restrict or prohibit smoking, pets, or other activities
• You have more flexibility in ending the tenancy if needed.

Our service doesn’t end once a tenant moves in. We provide ongoing support:

• Regular check-ins to ensure everything is going smoothly
• Mediation services if any conflicts arise
• Assistance with any legal or administrative issues
• Help with tenancy renewals or terminations when needed.

Most lending companies allow you to rent out a room of your house while you have a mortgage, but the rules can differ depending on your specific lending terms. It’s important to check with your lending company to ensure that you are not breaking any rules before you proceed.

Yes, we offer options for care-inclusive tenancies:

• Tenants who can provide basic care or companionship
• Reduced rent in exchange for help with tasks
• Flexibility to adjust arrangements as your needs change.

These FAQs are designed to address the specific concerns of senior homeowners while highlighting the unique benefits and support provided by your service. They focus on the positive aspects of renting out a room and emphasize how your service makes the process easy, safe, and financially rewarding for seniors.