Thursday, May 20, 2010

What sort of rent should I charge people for sharing my house?

Ive just bought my 1st house and im going to rent out 2 of the rooms to help pay the bills.

Its a 3 bedroom property,the 2 lodgers shall share a bathroom and my room will be ensuite, the house is a good size semi and has a lounge and dining area, huge garden with pond%26amp; shed , good size kitchen and a study too. The drive will accomodate 3 cars %26amp; my mortgage is around the £400 mark amonth.

Plus What can I expect utility bills to be in a 3 bed semi ?

What sort of rent should I charge people for sharing my house?
Rent in London for a room in a shared house is about 80 per week for a single and 120 per week for a double room so you cant charge that much. In nottingham the cost of a double room was about 50per week. + bills. I would suggest that you charge 55per week for the double and 45per week for the single and then your mortgage is covered and all you need to do is to pay the bills which in a 3 bed semi will come to approx:

Water £80-100 per quarter

Gas: up to £180 per quarter in winter if you have gas central heating.

Electric: £100 per quarter

This means that you will be paying about £30 - £50 per week. Seems pretty fair to me.
Reply:divide it up between the other 2 and yourself. the bills the same or else put the bill included into the rent they pay every week/month and you will be ok then.
Reply:70 pounds a room, n 60 if its a small room, but it all depends on where u live n the goi rates. hav a look in ur local paper n check out what other people r charging.
Reply:in Manitoba, we charge $300.00 per room, for room only, because once you start to make a profit you have to claim it on taxes
Reply:depends on where you live? i reckon you could easily get at least £200 per room per month if not more, go and talk to local estate agents they'd probably know the sort of price to expect
Reply:Good luck to you, I would say that 2 people paying £50 each would cover your mortgage
Reply:depends where you live as to the price you can chrge, will they be single rooms? will they pay bills on top or soley rent? limits on the phone? use of the TV in the living room etc etc, think about all the details. what would you pay to live there? single room round here (oxfordshire) looking at about 250-300
Reply:Try looking on to see how it compares locally.

I have to say that I have just been looking for houses to let and sharing with the owner makes it a much less attractive option, no matter how chilled out and nice you are, so you will have to reflect that in the price.

Utilty bills. 150 quid gas winter 90 quid electric. Per quarter. That was a big old 3 bed terrace house though.

Good luck in finding someone!!

Edit: for Macclesfield prob about 60-65 p/w all bils inc?

Good idea about the landline, will you let them put one in if they need it though?
Reply:you should charge them around £80/ week each.
Reply:about £280 each would be ok per month - make sure your house insurance covers letting in case you get a couple of pyromaniacs and the insurance is invalid
Reply:I know someone in your shoes and she charges £75/wk - all-inclusive. Thing is it's a 4-bedroom house and they are all double bedrooms. The house pays for itself. Are yours double rooms? People might not be willing to pay above £80 for a double bedroom.
Reply:Look around your neighbourhood and see what others are charging for a similar rental then go for it.

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