Legislate's lodger licence agreement is great for landlords who want to take advantage of the flexibility of managing their documents online.
A lodger licence agreement allows a live-in landlord to rent a room in their main home to a lodger. A lodger is an excluded occupier which means that they do not have exclusive possession of their room. As a result, a lodger is not a tenant and has less rights than under an assured shorthold tenancy as they are living in the landlord's main home.
A 6 month lodger licence allows a live-in landlord to rent a room to a lodger for 6 months. During this period the lodger will pay a licence fee either upfront or on a weekly or monthly basis. A lodger will be treated as an excluded occupier which means that the landlord has the right to relocated them to a different room in the property or evict them without a court order if the lodger refuses to leave after being served the appropriate notice.
A live in-landlord is a landlord who lets out a spare room in their main home. Live-in landlords can earn tax-free income from a lodger up to £7,500 under the government's Rent a Room scheme.
Taking on a lodger is a great way to generate some additional rental income from spare rooms in your property. However, it is important to choose a lodger who you get on with to ensure a smooth rental.
Live-in landlords can create and manage their lodger licence agreements with Legislate. This helps them save time and offer a professional experience to their lodgers.