Lessons I learnt from having 37 lodgers - and counting!
Richard is 76 and has rented out rooms in his home in Wanstead, London, to lodgers since 1995. Since then, he’s continued to let to a total of 37 lodgers - and counting!
We asked Richard to share what lessons he’s learnt and advice he’d give to others who rent to lodgers or those who are considering taking in one for the first time. Here’s what he had to say about…
…Choosing a lodger
“Firstly, decide the kind of person you want to live with. It doesn’t matter too much if they’ll only be living with you short-term, but if you intend to have them long-term, it’s important to think this through.
Taking in a lodger is a very personal thing. For me, I think it helps if we share an interest or two. I like to have someone I can relate to. I also think it’s nice if they’re happy to join me occasionally for a drink or dinner, too. Consider whether you want a lodger relationship where you’re happy to collect a parcel if the other is out, or if you prefer someone who keeps to themselves. Remember, you have to make sure it works for you as much as them.
I always ask for references when finding a lodger, but I tend to choose based on my gut instinct after meeting them. You can tell a lot about someone from a first meeting. At least, I think you can tell pretty immediately if you feel at ease with them.”
…Managing conflict
“I think it’s better to mention things like house rules from the start in your advert or when they come for a viewing - it’s better to iron things out early on than start bringing in rules later! It’s your home, after all. Try to find someone who aligns with your way of thinking.
Inevitably, issues arise when you live with other people, but I find that if you can talk with them easily, it makes communicating issues less difficult. I don’t like to nag people, but I like to keep things direct and constructive. I think it helps not to be too rigid when it comes to rules. Sometimes you have to make compromises yourself.”
…When it doesn’t work out
You could say I’ve been lucky to have ended up with so many good lodgers, as I’ve only had a handful (out of nearly 40!) that haven’t worked out.
When things aren’t working out, I always try to have a conversation to see if we can reach a compromise or at least get a better understanding of their situation. If that fails, I serve their notice, which means that they can be gone within a few weeks. But it’s never deterred me from continuing to rent out my spare bedrooms. I always know there will be somebody else out there who will be better suited.”
…Why I do it
“The additional income has been really helpful to maintain the house - it’s even helped to pay for a loft conversion. I’m quite lucky as I don’t have a mortgage to pay off, but that’s a huge incentive for those who do.
I could move into a smaller place on my own, but I think that would get pretty lonely. I like having people around the house. I’m also still in touch with so many of my past lodgers. For example, one moved out to live with a partner, and now I let them use my house and garden to host an annual party. Recently, a lodger also helped to look after me when I had a heart operation - it was in no way expected of them, but it was a result of the friendly relationship we’d formed, and I’m very grateful.”