Landlord advice
Discussion
Hi,
We are about to rent our house out for the first time and wondered if there are any decent landlord websites recommended for general information.
We've also looked at the various tenancy agreements that are available online but does anyone use them or again, have any recommendations.
Cheers
We are about to rent our house out for the first time and wondered if there are any decent landlord websites recommended for general information.
We've also looked at the various tenancy agreements that are available online but does anyone use them or again, have any recommendations.
Cheers
Yes, we've considered all the potential problems.
It would be interesting to know out of all the properties rented in the UK, how many run into the problems you describe. You only hear of the nightmare scenarios. I guess you couldn't make a TV programme called "model tenants and perfect landlords"!
It would be interesting to know out of all the properties rented in the UK, how many run into the problems you describe. You only hear of the nightmare scenarios. I guess you couldn't make a TV programme called "model tenants and perfect landlords"!
I've been renting a property out using a letting agent for a good number of years and decided last year i was going to do it myself.
I joined https://www.rla.org.uk/ . I got all the documentation i needed from their website and made a number of calls to the telephone advice line to make sure everything i was doing was correct and above board. There's a lot of paperwork, but once you get your head around it all it's pretty simple.
Luckily i had tenants in the property who are long term. Losing them and having to find new ones is my only concern and i'd probably have to use somebody to do that.
I have access to a good property maintenance guy and also a central heating company for gas certs and any repair work needed to gas appliances.
I joined https://www.rla.org.uk/ . I got all the documentation i needed from their website and made a number of calls to the telephone advice line to make sure everything i was doing was correct and above board. There's a lot of paperwork, but once you get your head around it all it's pretty simple.
Luckily i had tenants in the property who are long term. Losing them and having to find new ones is my only concern and i'd probably have to use somebody to do that.
I have access to a good property maintenance guy and also a central heating company for gas certs and any repair work needed to gas appliances.
Kwackersaki said:
It would be interesting to know out of all the properties rented in the UK, how many run into the problems you describe.
1/1 for me. It's not something to be taken lightly. The most honest-looking people can turn dishonest and the whole area is a legal minefield. Hopefully you will have more luck than me.A friend of mine has a 1/2 success rate; his first tenant ending up in court and being evicted.
(You'll also be on call 24/7/365 for anything that goes wrong)
Edited by Simpo Two on Friday 17th June 10:25
IMO you need,
- A good agent. Costs money but could save you endless hassle.
- Rental insurance - in case the tenant decides not to pay the rent. It takes months to evict them and you'll never see the money.
- Proper landlord's insurance. You can't rely on your previous householder policy.
If you live fairly close just get an estate agent to do a "tenant find" for you, they will charge 50% of the first months rent, they will do the viewings and sort out the AST and deposit lodging. Once tenants are in place it is up to you to collect rent and sort any repairs and other dramas.
If you decide to go fully managed make sure of a few things like repairs
with our clients if lets say a ballcock goes in a cistern we get our tame plumber to fix it......probably a bill of £35, we pass on a copy of the bill and don't put anything on top. Many agents will just bill you £150 and keep the difference
Make sure they do quarterly inspections and don't charge you for inspections
If you decide to go fully managed make sure of a few things like repairs
with our clients if lets say a ballcock goes in a cistern we get our tame plumber to fix it......probably a bill of £35, we pass on a copy of the bill and don't put anything on top. Many agents will just bill you £150 and keep the difference
Make sure they do quarterly inspections and don't charge you for inspections
hab1966 said:
I joined https://www.rla.org.uk/
Me too, I use their forms. There is another one that may be worth considering, cant remember them right now.The deposits side of things is a bit of a mine field, you need a good application form to cover all the information that you are required to ask for.
Thanks for all the advice.
We have found a tenant via gumtree! We must have had about 12 calls and 5 emails within 48 hours. They live close and their current landlord is selling the property which they have been in for 4 years and are looking for a long term rent.
I've joined landlordzone and will look at the other one mentioned. Just need to sort an agreement now. A mate who has 4 properties used the whsmith one for a £10! He is tight as a ducks backside though and I think i'll speak to a solicitor unless anyone knows of a good on online?
We have found a tenant via gumtree! We must have had about 12 calls and 5 emails within 48 hours. They live close and their current landlord is selling the property which they have been in for 4 years and are looking for a long term rent.
I've joined landlordzone and will look at the other one mentioned. Just need to sort an agreement now. A mate who has 4 properties used the whsmith one for a £10! He is tight as a ducks backside though and I think i'll speak to a solicitor unless anyone knows of a good on online?
We've had six or seven tenants in the last 8 years and none have been an issue.
On the other hand a property I'm trying to buy has a tenant in default. Although alongside that the current landlord didn't take a deposit off her and gave her one month as a 'trial run' to see if she liked the place. She then stopped paying rent and refused to leave, so I'm putting it down to his naivety on the main part.
On the other hand a property I'm trying to buy has a tenant in default. Although alongside that the current landlord didn't take a deposit off her and gave her one month as a 'trial run' to see if she liked the place. She then stopped paying rent and refused to leave, so I'm putting it down to his naivety on the main part.
Well I was going to be another to say let it through an agent and get them to draw up legal agreements but if you've found one through gumtree done your own credit checks and are happy with a DIY contract then good luck.
Don't forget to register the deposit, get the appropriate safety checks, hard wired smoke detectors, register as a landlord etc... The legal bits.
Don't forget to register the deposit, get the appropriate safety checks, hard wired smoke detectors, register as a landlord etc... The legal bits.
I'll get the agreement drawn up professionally as I don't want to leave anything to chance. Has anyone an idea of the rough cost for this?
The thing is, if you can do your own credit checks, interview potential tenants yourself, and get a proper agreement, why on earth would you pay an agent to do it? I've heard and read of stories whereby they've recommended tenants who've turned out to be a nightmare so are they really doing anything extra that you can,t do yourself?
The thing is, if you can do your own credit checks, interview potential tenants yourself, and get a proper agreement, why on earth would you pay an agent to do it? I've heard and read of stories whereby they've recommended tenants who've turned out to be a nightmare so are they really doing anything extra that you can,t do yourself?
^^^ IMO one of the key advantages for a private landlord of using an agent is that it puts a buffer in the middle. I know private landlords who get phone calls all hours of the day and night because the washing machine isn't working, or the toilet's leaking, or the tenant's "a bit short of cash this month". Wouldn't want that myself.
Yes, the agent has to be paid but the cost is tax-deductible and can save a fair amount of hassle. Especially useful if the tenanted property is a fair distance away.
Yes, the agent has to be paid but the cost is tax-deductible and can save a fair amount of hassle. Especially useful if the tenanted property is a fair distance away.
That is a good point. I guess it's whether you want to pay for that and how much. For that service around here it's approx 15% of the rental income.
I have a mate who will handle the maintenance side of things but apparently the potential tenants were in their current property 4 years and never contacted the landlord once! We shall see.
Incidentally, do you normally include white goods when renting? Fridge/freezer I can see the point of but washing machine?
I have a mate who will handle the maintenance side of things but apparently the potential tenants were in their current property 4 years and never contacted the landlord once! We shall see.
Incidentally, do you normally include white goods when renting? Fridge/freezer I can see the point of but washing machine?
based on this and your other thread, I do think there are a number of things that you haven't fully considered.
One of the things an agent does is a background check on the tenants, how can you do that? do you have certainty the tenants can legally live in the UK?
Any you sure you are fully protected legally? do you need a gas safety certificate? have you changed your home insurance to landlords insurance? did you get agreement from your mortgage company? Have you fitted smoke alarms on all floors, and co alarms?
The fact you are asking about including white goods suggests you haven't considered the implications of furnished vs unfurnished.
One of the things an agent does is a background check on the tenants, how can you do that? do you have certainty the tenants can legally live in the UK?
Any you sure you are fully protected legally? do you need a gas safety certificate? have you changed your home insurance to landlords insurance? did you get agreement from your mortgage company? Have you fitted smoke alarms on all floors, and co alarms?
The fact you are asking about including white goods suggests you haven't considered the implications of furnished vs unfurnished.
Edited by SMB on Monday 20th June 11:25
Yes to fridge freezer no to washing machine (they had their own).
My current tenants handed a list of 20-30 items after the agents gave them the inventory they went through them all dismissing each one I think we repaired / put right 2 or 3 in the end. Agents wasn't their 10% dealing with that and chasing the monthly rent I couldn't be doing with it anymore I have managed myself in the past and over the past 10 years would say 10% is worth paying generally.
My current tenants handed a list of 20-30 items after the agents gave them the inventory they went through them all dismissing each one I think we repaired / put right 2 or 3 in the end. Agents wasn't their 10% dealing with that and chasing the monthly rent I couldn't be doing with it anymore I have managed myself in the past and over the past 10 years would say 10% is worth paying generally.
, on both the rented and landlords address. Some tenants have been known to supply false references.... Just saying likeKwackersaki said:
That is a good point. I guess it's whether you want to pay for that and how much. For that service around here it's approx 15% of the rental income.
I have a mate who will handle the maintenance side of things but apparently the potential tenants were in their current property 4 years and never contacted the landlord once! We shall see.
Incidentally, do you normally include white goods when renting? Fridge/freezer I can see the point of but washing machine?
You have to be mad to diy with no experience.I have a mate who will handle the maintenance side of things but apparently the potential tenants were in their current property 4 years and never contacted the landlord once! We shall see.
Incidentally, do you normally include white goods when renting? Fridge/freezer I can see the point of but washing machine?
One of the benefits of an agency is that they will be taking on a lot of the legal obligations of ensuring the house is safe to use, of the liability of employing competent and qualified contractors when required, of ensuring your legal interests in the property are protected, that you are uptodate with all the regulations, that you have a proper tenancy agreement and you have some come back if they screw up. Plus if you find a decent agency ie family long standing good reputation you will benefit from that expereince in getting issues solved quickly, getting a property let to the right tenants and you will save a lot of hassle.
Makes me laugh when new Landlords say Ive have 15 phone calls in 2 hrs - err but would you want to let to all of them? Finding tenants is piss easy - its getting the right tenants, doing the right checks, asking the right questions, keeping them happy, getting the best rent, keeping voids small, providing a good service, keeping uptodate with the laws, As said if you have no experience you have to be mad to DIY
In answer to some of the above,I have considered all the implications, furnished/ unfurnished, legal obligations-there are some very good guides online, no there is no mortgage, of course I will arrange landlords insurance and I will check the references given and as I recognise the female half of the prospective tenants as she went to the same school as me, I'm fairly sure she is a UK resident entitled to rent!
I understand what has been said about using an agent and I can see the benefits but I'm happy to go ahead. I have very generously been forwarded a copy of a rental agreement from a letting agent who has seen this thread, for which I am exceedingly grateful.
I understand what has been said about using an agent and I can see the benefits but I'm happy to go ahead. I have very generously been forwarded a copy of a rental agreement from a letting agent who has seen this thread, for which I am exceedingly grateful.
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