Published in on Wednesday, April 22 2009 by Ideal Debt Solutions
If you follow a few basic guidelines for lodging, you should find the process stress-free and financially beneficial. However, there are some potential pitfalls that you should be aware of prior to making a final decision. These include:
• Intrusions of privacy. Some people fail to adjust to the new living arrangements which come with the acquisition of a lodger. Remember that the lodger must share your cooking and bathroom facilities in order to comply with the government’s requirements
• Putting up with visitors. It is within the rights of your lodger to invite guests over to the house. This means that you will need to put up with strangers at any time of the day. So, bear in mind that even if you feel comfortable around your lodger, you will need to get used to welcoming people you don’t know into your life
• Personal friction. If payments are late or there are general financial disputes, you may find relations with your lodger awkward. This may be a particular issue if you are struggling to escape from debt because stresses and strains will already by rife in your household and extra financial concerns will not be welcome
• Benefit complications. The lodging arrangement could adversely affect the income you receive through benefits because it will be assumed that your lodger is paying you rent
• Insurance premiums may increase. You may think you can get away with this by not informing your insurance company of your new arrangement but this could invalidate your policy in the future
If you’re thinking about taking on a lodger to stay out of debt but don’t want to risk the potential pitfalls, try contacting a company for advice about a debt management plan.