JUNGLEdrum News

‘Casual’ landlords pay the price of careless lodgers


As increased demand pushes the price of renting to a record high, new research from MORE TH>N Home Insurance reveals that a third (37 per cent) of UK homeowners are considering capitalising on their spare rooms by taking in lodgers.

With over 7.8 million UK households estimated to have at least one spare room, the temptation to earn extra income means many homeowners are entering into casual arrangements with lodgers and leaving themselves open to financial disputes and hefty bills.

60 per cent of homeowners who currently rent out a room failed to collect a deposit, request a reference or even carry out basic credit checks. As a consequence, one in six of these ‘casual’ landlords admit to having footed the bill for damage caused by their lodger, at an average cost of £2,240 per incident.

Damage to property accounts for 44 per cent of the problems encountered when renting a room. Other common complaints include late payment of utility bills, non-payment of rent, inconsiderate behaviour and upsetting neighbours, family and friends.

Homelet EvolutionMatt Pernet, Head of MORE TH>N Home Insurance, said, “Making the most of a spare room is a great way to earn extra income but we encourage homeowners to conduct credit, reference and financial checks as well as agreeing basic terms with a lodger, even if the lodger is a friend. Over and above protecting your possessions, this will help avoid conflict and ensure you don’t leave yourself open to potential costs further down the line.”

Landlords in West Midlands are paying the highest price for careless lodgers, with the average cost of repairs for damage caused by lodgers in this region reaching £3,545. Lodgers in the South West are the most careful, with only 8 per cent causing damage for their landlords to repair.

Published in: JUNGLEdrum! The newsbeat from PROPERTYdrum

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