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renting out a room - your tips?

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redmapleleaves Wed 21-May-14 18:10:31

Hello. Divorcing and once cash is agreed, aiming to buy new house for self and two teenagers. I'm cautious by nature and would, I hope, have choice between house on which could comfortably manage mortgage but where living space would be v tight; or house with a bigger living room which could be a push/really need us to cut everything else back when interest rates go up. Friend today suggested getting a (probably more rundown) house with an extra bedroom and letting it out. Haven't really done sums, but would really welcome thoughts.

Have you let a room in your home - what made it work, in the tenant and in you? Fridges, toilets, showers, - where are the sticking points? What made you regret it? What do you wish you'd known? Or what about Monday-Friday lets vs full time. Help my thinking please. Will also cross post in money matters. Thanks

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