Any private landlords out there?
Discussion
Just a stiffener: The tenants have already lied to you, they'll lie again. And the letting agent is not losing £600pcm. You are. The quicker you get rid of them the quicker you can start again with better tenants IMHO (or sell up like I did for an easier life). Keep it legal of course but don't buy any more hard luck stories. (And you ARE buying them, literally, at a cost of several hundred pounds each)
Don't be afraid of issuing a Section 8; it's the first real step you can take.
Don't be afraid of issuing a Section 8; it's the first real step you can take.
Simpo Two said:
Just a stiffener: The tenants have already lied to you, they'll lie again. And the letting agent is not losing £600pcm. You are. The quicker you get rid of them the quicker you can start again with better tenants IMHO (or sell up like I did for an easier life). Keep it legal of course but don't buy any more hard luck stories. (And you ARE buying them, literally, at a cost of several hundred pounds each)
Don't be afraid of issuing a Section 8; it's the first real step you can take.
Due to a number of reasons (mainly financial) it's simply not viable for me to sell up now. I do realise the pitfalls of letting privately but I guess I was just to naive to believe by spending a little extra on a (locally well known) agents to manage will cover most bases.Don't be afraid of issuing a Section 8; it's the first real step you can take.
I might just be over-worrying about the whole thing as I seem to be going through a rough time at the moment with various problems (minor ones but they all add up...). Tomorrow is the date given by tenant to agent (via email) of which they will reinstate the standing order... let's see how that turns out...
The tenants promised to make payment by today and as expected that payment didn't come through. Just got a call from the agent informing me this and was told all they can do now is keep chasing.
I will be taking Wings advise onboard as I have a feeling he is a practicing solicitor...
edit: I've also asked about the clause in the tenancy agreement about interest on missed payments (not that I bother much about that but would like some kind of action taken in the mean time) and apparently it is very hard for the agents to enforce this... Starting to give me the impression the tenancy agreement is not worth anything! I've even asked what kind of background checks were carried out and they told me that's confidential...
I will be taking Wings advise onboard as I have a feeling he is a practicing solicitor...
edit: I've also asked about the clause in the tenancy agreement about interest on missed payments (not that I bother much about that but would like some kind of action taken in the mean time) and apparently it is very hard for the agents to enforce this... Starting to give me the impression the tenancy agreement is not worth anything! I've even asked what kind of background checks were carried out and they told me that's confidential...
Edited by crazy about cars on Wednesday 17th October 16:00
Edited by crazy about cars on Wednesday 17th October 16:01
If today is the second anniversary of your tenant/s failing to pay any rent, then your tenant/s are two months in rental arrears.
To reduce your damage limitations, you should through your agents, immediately issue your tenant/s a Section 8 Notice. The Notice accords your tenant/s 14 days to either clear or reduce the two months rental arrears, with the failure of your tenant/s to either of the same, allows a landlord to start both repossession proceedings and the recovery of the debt etc. through the courts.
I am not a solicitor but a landlord that has both taken repossession proceedings through the courts, for myself and in assisting other landlords with the legal process.
Whilst from afar I can offer you general advice, I believe that the initial best course of action you can take, is to keep the situation under a business footing, allowing the letting agent to communicate with the tenant/s, and if need be a local solicitor to implement legal proceedings.
Lastly, a Tenancy Agreement is a starting point, a point of evidence in times of disputes, and adding interest on to the arrears, may be the last of your worries.
To reduce your damage limitations, you should through your agents, immediately issue your tenant/s a Section 8 Notice. The Notice accords your tenant/s 14 days to either clear or reduce the two months rental arrears, with the failure of your tenant/s to either of the same, allows a landlord to start both repossession proceedings and the recovery of the debt etc. through the courts.
I am not a solicitor but a landlord that has both taken repossession proceedings through the courts, for myself and in assisting other landlords with the legal process.
Whilst from afar I can offer you general advice, I believe that the initial best course of action you can take, is to keep the situation under a business footing, allowing the letting agent to communicate with the tenant/s, and if need be a local solicitor to implement legal proceedings.
Lastly, a Tenancy Agreement is a starting point, a point of evidence in times of disputes, and adding interest on to the arrears, may be the last of your worries.
Wings said:
If today is the second anniversary of your tenant/s failing to pay any rent, then your tenant/s are two months in rental arrears.
To reduce your damage limitations, you should through your agents, immediately issue your tenant/s a Section 8 Notice. The Notice accords your tenant/s 14 days to either clear or reduce the two months rental arrears, with the failure of your tenant/s to either of the same, allows a landlord to start both repossession proceedings and the recovery of the debt etc. through the courts.
I am not a solicitor but a landlord that has both taken repossession proceedings through the courts, for myself and in assisting other landlords with the legal process.
Whilst from afar I can offer you general advice, I believe that the initial best course of action you can take, is to keep the situation under a business footing, allowing the letting agent to communicate with the tenant/s, and if need be a local solicitor to implement legal proceedings.
Lastly, a Tenancy Agreement is a starting point, a point of evidence in times of disputes, and adding interest on to the arrears, may be the last of your worries.
Thanks again To reduce your damage limitations, you should through your agents, immediately issue your tenant/s a Section 8 Notice. The Notice accords your tenant/s 14 days to either clear or reduce the two months rental arrears, with the failure of your tenant/s to either of the same, allows a landlord to start both repossession proceedings and the recovery of the debt etc. through the courts.
I am not a solicitor but a landlord that has both taken repossession proceedings through the courts, for myself and in assisting other landlords with the legal process.
Whilst from afar I can offer you general advice, I believe that the initial best course of action you can take, is to keep the situation under a business footing, allowing the letting agent to communicate with the tenant/s, and if need be a local solicitor to implement legal proceedings.
Lastly, a Tenancy Agreement is a starting point, a point of evidence in times of disputes, and adding interest on to the arrears, may be the last of your worries.
I thought you were a solicitor from your language used. The second anniversary (presuming they don't pay until then) would be on the 30th November...
It's 2 rental periods outstanding.
I would also recommend, if you want to remove the tenants, to also issue a Section 21 notice at the same time as the Section 8. The Section 8 gives the tenants two weeks to be less than two rental periods in arrears - they could make a small payment to reduce this amount, and then the Section 8 becomes irrelevant.
If you want them out, also serve the Section 21, which although is a two month notice, there is no reason at all for the courts to not issue possession - you do not need a qualifying reason to regain the property under a Section 21.
One word of note - the Section 21 is only relevant if the tenant is outside of their Assured Shorthold Tenancy period.
As I saiid before, take a look at www.landlordzone.co.uk - the forums there are full of cases like yours. There are also plenty of links to solicitors who can serve all of the paperwork for you, right through to the actual eviction.
I would also recommend, if you want to remove the tenants, to also issue a Section 21 notice at the same time as the Section 8. The Section 8 gives the tenants two weeks to be less than two rental periods in arrears - they could make a small payment to reduce this amount, and then the Section 8 becomes irrelevant.
If you want them out, also serve the Section 21, which although is a two month notice, there is no reason at all for the courts to not issue possession - you do not need a qualifying reason to regain the property under a Section 21.
One word of note - the Section 21 is only relevant if the tenant is outside of their Assured Shorthold Tenancy period.
As I saiid before, take a look at www.landlordzone.co.uk - the forums there are full of cases like yours. There are also plenty of links to solicitors who can serve all of the paperwork for you, right through to the actual eviction.
james12345 said:
The Section 8 gives the tenants two weeks to be less than two rental periods in arrears - they could make a small payment to reduce this amount, and then the Section 8 becomes irrelevant.
This is another worry I have. Thanks again for the information. As advised I'm currently leaving everything to the agents to handle but I am gathering information in case further action is needed. The TA says the term is 6 months.Crazy, your lettings agent isnt Millers Countrywide by chance? I'm currently not having the best of relationships with them.
15% +vat for them to collect the rent, plus charges for rental guarantees, and charges for HMRC submissions and i have to pay for the annual safety checks etc.
From a rental of £700pcm i see about £550ish. Out of pocket every month as the mortgage is high £600's.
Admitedly the tenant is hassle free on the whole. the dishwasher packed in, she bought a new one (told me after i'd bought a replacement) and now the washing machine has packed in. Hope she buys a new one for herself....
Part of me wants to sack off the Agents so i break even, but part of me thinks what if???
15% +vat for them to collect the rent, plus charges for rental guarantees, and charges for HMRC submissions and i have to pay for the annual safety checks etc.
From a rental of £700pcm i see about £550ish. Out of pocket every month as the mortgage is high £600's.
Admitedly the tenant is hassle free on the whole. the dishwasher packed in, she bought a new one (told me after i'd bought a replacement) and now the washing machine has packed in. Hope she buys a new one for herself....
Part of me wants to sack off the Agents so i break even, but part of me thinks what if???
I used to live in it, Then my wife and I inherited a house worth over twice of the rental.
As an 'investment' i have a straight forward repayment mortgage, for an input of say £1200ish year i'm seeing as much again coming off the capital repayment on the mortgage roll each year.
I'm viewing it as a bit of a pension fund i suppose. At least the taxman can't have me for income tax (i hope - but probably capital gains though!!).
As an 'investment' i have a straight forward repayment mortgage, for an input of say £1200ish year i'm seeing as much again coming off the capital repayment on the mortgage roll each year.
I'm viewing it as a bit of a pension fund i suppose. At least the taxman can't have me for income tax (i hope - but probably capital gains though!!).
E-B said:
Crazy, your lettings agent isnt Millers Countrywide by chance? I'm currently not having the best of relationships with them.
15% +vat for them to collect the rent, plus charges for rental guarantees, and charges for HMRC submissions and i have to pay for the annual safety checks etc.
From a rental of £700pcm i see about £550ish. Out of pocket every month as the mortgage is high £600's.
Admitedly the tenant is hassle free on the whole. the dishwasher packed in, she bought a new one (told me after i'd bought a replacement) and now the washing machine has packed in. Hope she buys a new one for herself....
Part of me wants to sack off the Agents so i break even, but part of me thinks what if???
Nope but my agents are pretty well known around the East Midlands. I am paying around 11% + VAT now but it was negotiated down from around 15%.15% +vat for them to collect the rent, plus charges for rental guarantees, and charges for HMRC submissions and i have to pay for the annual safety checks etc.
From a rental of £700pcm i see about £550ish. Out of pocket every month as the mortgage is high £600's.
Admitedly the tenant is hassle free on the whole. the dishwasher packed in, she bought a new one (told me after i'd bought a replacement) and now the washing machine has packed in. Hope she buys a new one for herself....
Part of me wants to sack off the Agents so i break even, but part of me thinks what if???
I do feel your pain (and stress!) but pardon me for asking but it looks like to me you are suffering a loss every month which is not good? I think you definitely need to negotiate management charges with your agents. I also never supply any white goods to tenants. I just upkeep whatever that comes with the house. I've renovated the house (it's a new house before current tenant) and built a very nice decking area in the garden too so at the moment I too am running negative income...
E-B said:
I used to live in it, Then my wife and I inherited a house worth over twice of the rental.
As an 'investment' i have a straight forward repayment mortgage, for an input of say £1200ish year i'm seeing as much again coming off the capital repayment on the mortgage roll each year.
I'm viewing it as a bit of a pension fund i suppose. At least the taxman can't have me for income tax (i hope - but probably capital gains though!!).
There's nothing like living mortgage free! For £1200/year I don't think you will be taxed but it's better to check. I rung the HRMC hotline to ask questions when I was unsure.As an 'investment' i have a straight forward repayment mortgage, for an input of say £1200ish year i'm seeing as much again coming off the capital repayment on the mortgage roll each year.
I'm viewing it as a bit of a pension fund i suppose. At least the taxman can't have me for income tax (i hope - but probably capital gains though!!).
crazy about cars said:
There's nothing like living mortgage free! For £1200/year I don't think you will be taxed but it's better to check. I rung the HRMC hotline to ask questions when I was unsure.
It is rather good. Our present house (we live by the water near Falmouth in Cornwall) we inherited and is mortgage free. Although the upkeep of a 200 year old cottage on a quayside can cost at times!
Our current battle is trying to find out why the upstairs lights keep tripping out. Best phone the sparks again. Thankfully its all under snagging after it was rewired last year.
E-B said:
Crazy, your lettings agent isnt Millers Countrywide by chance? I'm currently not having the best of relationships with them.
15% +vat for them to collect the rent, plus charges for rental guarantees, and charges for HMRC submissions and i have to pay for the annual safety checks etc.
From a rental of £700pcm i see about £550ish. Out of pocket every month as the mortgage is high £600's.
Admitedly the tenant is hassle free on the whole. the dishwasher packed in, she bought a new one (told me after i'd bought a replacement) and now the washing machine has packed in. Hope she buys a new one for herself....
Part of me wants to sack off the Agents so i break even, but part of me thinks what if???
Have you considered joining The South West Landlords Association, latest legal advice, documentation, cheap insurance etc. etc.15% +vat for them to collect the rent, plus charges for rental guarantees, and charges for HMRC submissions and i have to pay for the annual safety checks etc.
From a rental of £700pcm i see about £550ish. Out of pocket every month as the mortgage is high £600's.
Admitedly the tenant is hassle free on the whole. the dishwasher packed in, she bought a new one (told me after i'd bought a replacement) and now the washing machine has packed in. Hope she buys a new one for herself....
Part of me wants to sack off the Agents so i break even, but part of me thinks what if???
http://www.landlordssouthwest.co.uk/
Quick update :
Looks like the tenants are trying it on. Repeatedly lied to the agents and kept missing payments. The thing is they pay one month off at very last minute so this just leaves them 1 month in arrear!!! Agent is trying to arrange house inspection but so far has been unsuccessful... if this takes a turn for the worse this could mean them refusing to vacate the property when the 6 month term is up in 3 months time! If this happens basically they can seize all payments and live in the house for free while I need to spend £££ on legal bills to fight them
I've no idea how they could even pass a history check!
Not a news I like to hear now
Looks like the tenants are trying it on. Repeatedly lied to the agents and kept missing payments. The thing is they pay one month off at very last minute so this just leaves them 1 month in arrear!!! Agent is trying to arrange house inspection but so far has been unsuccessful... if this takes a turn for the worse this could mean them refusing to vacate the property when the 6 month term is up in 3 months time! If this happens basically they can seize all payments and live in the house for free while I need to spend £££ on legal bills to fight them
I've no idea how they could even pass a history check!Not a news I like to hear now
Edited by crazy about cars on Thursday 8th November 15:55
There is one way.......... ask them "do they speak shotgun? 
"
Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff