Digital Signature Licitness for Lodger Agreement in European Union

How to eSign a document: digital signature licitness for Lodger Agreement in European Union

so you've got a house with rooms that you're not sleeping in can you make money from them that's exactly what i'm going to be breaking down in today's video [Music] so what i'm talking about right now is the rent-a-roon scheme where you've got a lodger moving into your property and i'm going to be breaking down how you do it the rules around it and how you can financially benefit so first of all is it legal absolutely it's actually encouraged by the government as a tax-free way of making some additional money and actively encouraging this sharing mentality mainly due to the lack of supply of housing in the uk right now what you're getting from this is you can rent out a furnished room and that is key it must be a furnished property overall that they're getting access to and you can earn up to 7 500 pounds tax free so if you're renting the room out for seven and a half thousand pounds and that's it don you don't even need to declare it you don't need to tell the government you don't need to do a self-assessment form from a tax point of view if you're renting out for more than that let's say it's ten thousand pound plus 100 a month contribution to bills you will need to declare it on your self-assessment form the benefit of doing that though is you can also get tax back through your expenses but for most of you doing this it's 7 500 a year and that is completely tax free but there are some rules around it so first of all you need to notify your local council rules change council to council but if you're living on your own right now and you're getting single occupancy relief from your account uh council tax you may need to notify them and you might need to contribute a lot of them will be absolutely fine you just need to ask a question if i'm writing the room to a lodger can i still get this relief some of them will say yes some of them will say no if you own the property with a mortgage you do need to notify your mortgage company some of them will not allow you especially if it's a residential mortgage will not allow you to rent out the property however you can ask for consent to let and a majority of them will allow it on a larger basis rather than a full rental basis but it's always good to notify them and get that in writing so that you've got consent on this what about if you need to evict them well because it's on a lodger agreement you don't actually need anything in writing so another question that can be answered is do you need an ast the answer is no you can do it on an asd an assured short hold tenancy but then if you want to get rid of the tenant you need to give notice to quit and then give section 21 section 28 and you need to eventually go to court if they refuse to leave on a lodger agreement you don't actually need anything in writing at all it can all be really informal my personal opinion is get something in writing even if it's an email ideally a lodger agreement which is very simple just to get drawn up you don't need to go to lawyers and in terms of notice you need to give what is known in legal speak fair notice and essentially what fair notices is what do they pay what are their pay durations so if somebody pays you monthly you'd normally have to give them a month's notice if somebody pays you weekly giving them one week's notice is absolutely fine something that is worth noting from a legal point of view is if you give them their one weeks or one month's notice and they don't move out you have a right to change the locks on your property and not allow them access however their material their bed in their desk whatever it is that they've brought is still theirs and you have to give that back to them you cannot hold back any of their materials the next big question is do i need to own the property and the answer is no you don't it's known as subletting and you'll hear a lot of people saying and i've heard i don't know why since day one i've heard this a lot subletting it is illegal no it is not it has never been illegal is not illegal you're absolutely fine doing it so if you rent from a landlord you can rent out the spare room however you must get consent from the landlord because they'll need additional details but that's absolutely fine you know if you're living in london right now and you've got a two bed place it's bloody expensive so why not let out the other room and get something back and hey if you've got a boyfriend or girlfriend or whatever it is in your partner why not earn from them as well so that's it for today's video i wanted to keep it short and sweet as this was a request from yourselves watching the channel if you got value from this and you're new to it make sure to hit the subscribe and the notification bell and i'll see you in the next video