First time landlord... What have I forgotten?

[2.5pi]

soi6 said:

sorry, been around the game too long . The chances are a tenant will never meet a landlord until they have signed and paid up. letting agents (who lie all the time) want to know everything about a tenant but as the tenant is paying how come they get to know SFA about the landlord? !!

I really have though about creating a "Bad landlord "internet site , where tenants can tell and show their side of the story for anyone to search and read etc

Ahh I'd forgotten about agents, I let out directly and tenants come by recommendation from the guy who manages my refurbs and deals with maintenance .

I used to use agents back in the day when I was letting to corporate clients who came via a very professional agent but nowadays my clients are more mainstream.

[Rhodr1]

dazwalsh said:

Homeowner still pays the council tax when house is empty.

That's incorrect. If the property is empty and unfurnished, you can get a council tax exemption of 6 months. After the 6 months the owner is liable for 50% council tax.

[Sticks.]

Rhodr1 said:

dazwalsh said:

Homeowner still pays the council tax when house is empty.

That's incorrect. If the property is empty and unfurnished, you can get a council tax exemption of 6 months. After the 6 months the owner is liable for 50% council tax.

My understanding is that from 2013 this is not always the case. See my earlier post & link.

[Rhodr1]

Sticks. said:

Rhodr1 said:

dazwalsh said:

Homeowner still pays the council tax when house is empty.

That's incorrect. If the property is empty and unfurnished, you can get a council tax exemption of 6 months. After the 6 months the owner is liable for 50% council tax.

My understanding is that from 2013 this is not always the case. See my earlier post & link.

I retract what I said above, it would appear that it's at the discretion of the council if they wish to grant the exemption or not. Wouldn't be surprised if the exemption is done away with altogether in the not too distant future.

[Countdown]

Rhodr1 said:

I retract what I said above, it would appear that it's at the discretion of the council if they wish to grant the exemption or not. Wouldn't be surprised if the exemption is done away with altogether in the not too distant future.

Ours has a two month grace period I think which isn't too bad unless you need to do a major refurb.

[Pheo]

Our council (mid-sussex) binned it off from April 2014 this yr. Kinda annoying as a home owner now, moving from a rented properly, in the SAME council area, so only using one set of services, yet I double paid for a month. Can understand them removing it for longer periods though, as in essence they are then subsidizing anyone with a commercial refurbishment business (who I bet use the council tip!)

[markbigears]

have a 6 month break clause, and if you are happy with them after that try to sign them up for a year. You can sleep easy knowing you have a years guaranteed rent. Get rent indemnity insurance. Get a good accountant. Interview the tenants yourself, never leave it to the agency, they will throw anyone in there as they want fast cash. If you are not handy with DIY, get some good tradsmen before things go wrong. Be prepared for phone calls for problems at the weekend / late night. All tenants seem nice and respectful, let long enough and you will see it all!

[pork911]

markbigears said:

have a 6 month break clause, and if you are happy with them after that try to sign them up for a year. You can sleep easy knowing you have a years guaranteed rent. Get rent indemnity insurance.

huh?

[BFG TERRANO]

I have landlord insurance with direct line. Covers you for 6 months of utility bills if they fail to pay them and then do a runner. Well worth it for the small premium.

[Andy M]

Make sure you lodge the tenants deposit with the DPS etc. Failure to do so will cost you.

Know what a Section 8 and a Section 21 notice is, and when to use which.

Only sign up to a 6 month AST. Thereafter allow it to fall into a statutory periodic tenancy.

Unless you want a cannabis farm, never accept the tenant who needs to "move in ASAP and can pay 6 months in advance".

Beware of those who have no previous landlord references, as they have "been living with parents".

Perform landlords inspections every 3 months. No excuses. Inform the tenant of the first inspection in writing on the day they sign the AST. Cannabis crops take 3 months to grow.

Any electrical goods you provide will need to be PAC tested each year. If you don't want the added cost, let unfurnished.

Gas Safety Inspections are important. Make sure the tenant is aware that they must allow access. No excuses.

If you are willing to accept tenants with pets, consider taking a slightly higher deposit. Our 'Pet Policy' requires them to have the carpets cleaned every 12 months, and we add £100 to the deposit.

Good luck!

[BGARK]

http://www.rla.org.uk/ very helpful.

[markbigears]

http://www.landlordzone.co.uk also very helpful

[MJG280]

As it's your current house your contact address with the Land Registry will be that address. When you have a new home advise the Land Registry that your contact address is now the new house.
It has happened in the past that a tenant in occupation has served notice to the Land Registry to change the ownership of the rented house to themselves. The LR write to the current registered owner to seek confirmation and the letter goes to the rented house where the tenant forges the real owner's signature and says yes ok.

They then sell the house and run away with the money. The new owner has good title and the landlord loses the house. This doesn't work if the house is mortgaged as the lender also has to agree.

It is best to be on the safe side.

[ILoveMondeo]

Thanks again for all the advice and links!

Looking like the new place needs a lot more work than I had anticipated so may not be moving in until May/June next year now, so gives me loads of breathing space.