pros and cons of an elderly person taking in a lodger under Rent a Room Scheme

DannyBoyD said:
why? if anything, given their age, having another person in the house is an excellent choice.
Click to expand...
Absolutely, once it's their wish and assuming they would actually like to have someone else around the house.

A different matter entirely to budgeting long-term for the income that accommodating a lodger would bring and at a later stage possibly not being able to afford not having a lodger, if their own preferences or health or other circumstances change.
 
Last edited:
T McGibney said:
A different matter entirely to budgeting long-term for the income that accommodating a lodger would bring and at a later stage possibly not being able to afford not having a lodger, if their own preferences or health or other circumstances change.
Click to expand...
Horses for courses.

One thing you can be certain of as age progresses is that things will change.

The extra 14k now will protect the savings for later.

But it is absolutely not a "mad" option as you opined earlier.
 
He’s a 70YO with €25k in pension income and another €1.14m in net assets. Basically zero risk of ever running out of money on current spending habits of €40k a year.

Telling him to cut down on his meals out or take in a lodger for financial reasons is daft.
 
Whats daft about it?

They want to contine living in their home.

OP looking for suggestions any one of which they accept or reject as suits their needs.
 
At age 70 one should have ideally not have to face the inconvenience of a probable much younger lodger and their issues, habits and lifestyle. I’m thinking parties, overnight guests, substance use, dirty laundry, clutter, noise, mental health issues, mood swings, sharing cartons of milk etc etc. Not to mention increased utility bills from room heaters, hot water etc. A friend of mine in his 60s has all these issues from his low rent paying lodgers. You would need eyes in the back of your head. No thank you very much.
 
PGF2016 said:
Seems like the retiree has plenty of options.
1. Do nothing - probably has enough resources as it is.
2. Invest the cash for a better return.
3. Take in a lodger to share the costs.

On the lodger suggestion - what about a final year student? The won't be there during the Summer or over holidays. Less likely to party if in final year. Gone after 9 months if there are issues. The bit of company might be appreciated. No long term commitment.
Click to expand...

Number 2.
 
Having a lodger isn't for everyone just like investing in stocks isn't for everyone but all options should at least be considered.
 
Mamamia22 said:
In the current climate it would be difficult to evict someone, even though they don’t have a written agreement.
Click to expand...
House sharers have the legal status of guests - they can be told to leave at any time. They are not tenants and do not have the legal protections of tenants.

If someone is acting the maggot; they go.
 
I know a lady who supplements her retirement income through rent-a-room relief to college students. She takes the students in initially on a "free" two-week trial period. This freebie is no hardship as the rent for the year is effectively "capped" by the 14k anyhow. There are lots of benefits to this trial period. Overall, it's working out really great. She had planned to do this for a few years but it's been going so well that she plans to keep going for a few more years at least. The point being it doesn't have to be forever.

It may not be for everyone but it certainly may suit some - rejecting it out of hand for all seems a tad excessive?!
 
DannyBoyD said:
Ethically yes; but from a legal standpoint no, any guest must leave as soon as you indicate they no longer have your permission to be there.
Click to expand...
Citizens Information states otherwise. https://www.citizensinformation.ie/en/housing/owning-a-home/home-owners/renting-a-room-in-your-home/

I am guessing this is a difference between a guest and a licensee.

If you rent a room that is not self-contained​

If the part of your home that you rent out is not self-contained, you are not covered by landlord and tenant legislation, so the rights and obligations under that legislation do not apply to you. For example, you do not have to register as a landlord with the RTB, provide a rent book to the tenant and the accommodation does not need to meet any minimum physical standards. However, if you are renting to a HAP tenant the accommodation must meet minimum standards.

This also means that private tenants living in your home are living under a licensee agreement, not a tenancy agreement, and are only entitled to reasonable notice if you choose to terminate the agreement. However, they can refer disputes under the Small Claims Procedure.

Common claims that are heard under the Small Claims Procedure include disputes about a tenant's deposit not being returned for what they consider unfair reasons, or deductions from rent for damage to property that is over and above normal 'wear and tear'.

Your tenants can find out more about their rights in our page Sharing accommodation with your landlord and can also contact Threshold for advice– see 'Where to apply' below.
Click to expand...
 
If you read further

"This means that you are in the property by the landlord’s consent or invitation"
 
You must log in or register to reply here.
Back
Top