Ask a Letting Agent anything

Ask a Letting Agent anything

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croyde

22,895 posts

230 months

Friday 17th March 2023
quotequote all
Ex marital home has kids, cats and a dog.

The damage is unbelievable.

Doubt, if I were ever in the position of being a LL, I would allow pets.

Best place I ever rented, due to place, location and LL, he allowed me to have a kitten and even had someone over to fit a catflap in the kitchen door.

I should never have left that place. Never raised the rent either.

He calls me everytime it comes up for rent again but it's sadly beyond my means now.

Previous

1,444 posts

154 months

Friday 17th March 2023
quotequote all
Fantastic thread OP.

You've mentioned it's all about the right Tennants (and LL too)

What would be your red flags for a Tennant, and how did you handle them (simply a "we've already had an offer however if it falls through well let you know" type discussion).

Do references really tell you that much?


Quhet

2,420 posts

146 months

Friday 17th March 2023
quotequote all
superlightr said:
One of our challenges was always to educate LL that the rent should go up each year - LL would say but they are nice tenants, keep the rent low to help them etc but that was not the right way. We ran educational letters abut why to increase the rent each year and why it was best for the LL and also the T in the long run.
Why is an annual rent raise best for the tenant?

I let out a flat and have just had some tenants move out. Am being quoted ridiculous rents that I could now charge apparently. Whilst I obviously want to make some money, I'm not a so will keep my rent a bit lower as i think this is fair. I'm not going to be charging someone £1,400pm for a 2 bed in Bristol, that's madness and a third more than my mortgage for a 3 bed house. I feel really uncomfortable about the constant squeezing people of everything that they can give and it just doesn't feel right.

croyde

22,895 posts

230 months

Friday 17th March 2023
quotequote all
Quhet said:
Why is an annual rent raise best for the tenant?

I let out a flat and have just had some tenants move out. Am being quoted ridiculous rents that I could now charge apparently. Whilst I obviously want to make some money, I'm not a so will keep my rent a bit lower as i think this is fair. I'm not going to be charging someone £1,400pm for a 2 bed in Bristol, that's madness and a third more than my mortgage for a 3 bed house. I feel really uncomfortable about the constant squeezing people of everything that they can give and it just doesn't feel right.
Please, can you be my LL smile

I'm guessing many BTL landlords have seen their monthlies rise by crazy amounts. I know mine is now 5x more than it was a year ago.

I'm IO not BTL, but same thing I believe.

Quhet

2,420 posts

146 months

Friday 17th March 2023
quotequote all
croyde said:
Quhet said:
Why is an annual rent raise best for the tenant?

I let out a flat and have just had some tenants move out. Am being quoted ridiculous rents that I could now charge apparently. Whilst I obviously want to make some money, I'm not a so will keep my rent a bit lower as i think this is fair. I'm not going to be charging someone £1,400pm for a 2 bed in Bristol, that's madness and a third more than my mortgage for a 3 bed house. I feel really uncomfortable about the constant squeezing people of everything that they can give and it just doesn't feel right.
Please, can you be my LL smile

I'm guessing many BTL landlords have seen their monthlies rise by crazy amounts. I know mine is now 5x more than it was a year ago.

I'm IO not BTL, but same thing I believe.
Difference probably is that I'm an 'accidental' landlord. Owned my flat and then remortgaged onto a 5 year fixed when I bought a place with my partner. My interest only mtg is £300p/m + £70 service charge. The rest coming in is 'profit'. Guess I'm pretty lucky in that respect.

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
lizardbrain said:
Louis Balfour said:
If there has been no agreement to a pet the landlord can either seek to secure their financial position, or serve notice. The Tenant Fees Act (2019) limits the deposit, so they can really only insist on a guarantor if you've already paid the maximum deposit.
But what typically happens. Is eviction the most common response? (Assuming no damage) What if the tenant refuses extra deposit?




Edited by lizardbrain on Friday 17th March 08:42
again - if they are good tenants and no other issues its a bit late to try and insist on no pets as you righlty said NTQ is an option but a better one is to agree a suitable rent increase /new tenancy taking into account the pet.

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
Disco You said:
I'd be fascinated to know how you managed to spin it that an annual rise in rent is good for the tenant.
We found that if a landlord does not increase the rent for a few years then it gets so out of touch with market rent when they do have to increase it the tenant then cannot afford it or feels aggrieved. Equally if a tenant is suddenly presented with a large increase pcm its such a shock and creates bad feelings.
We all want tenants to be happy and to stay long term the rents on renewals are pegged below market rent at each renewal and we explain this to the tenant and LL so both sides get a fair deal. If empty then yes it will be at max market rent and then let and then renewal pegged below and so on. It works much better that way for all.

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
elanfan said:
Daughter is in a houseshare. It’s been dreadful from the off. Black mould, water running down walls, treated by landlord/letting agent though mould blamed on them. Walls are damp skirtings rotten. She literally has slugs coming into her room. Numerous contractors turning up with no notice. Noise whilst daughter works from home. Thankfully only 3 months left on tennacy.

Latest is the letting agent texted her (not any of the other 4 housemates) Weds evening saying scaffolders would arrive Friday morning to cover entire house ready for contractors to remove all the render off the house to try to cure the damp issues. Talk about having quiet enjoyment of the property?

Council already involved over previous issues, daughter has copied council into email telling letting agent no. Let’s see if he listens I expect not.
Sounds terrible.

if the LL are trying to fix the issue then giving 24hr notice of scaffolding/external works is reasonable. It would be unreasonable for the T to refuse as its maintenance/urgent i would think. Best bet is to get the council involved and seek rent reduction for the disturbance.

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
croyde said:
You say that the LL should raise the rent every year.

Why?

My wages have not gone up in years. I have stayed a while in properties where the LL has treated me well and I have looked after the property.

Anyone raising rent after only a year and I'm off.
Its a balancing act - as mentioned after your reply the reasons why gentle increases we feel are best for both sides.

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
Gazzas86 said:
When work needs doing on a property that is managed by you, and you are asked by the LL to go and get quotes, do you get 'backhanders' for choosing a certain contractor?, does he give you a Christmas hamper each year, a cut of the costs, discounted work on you're own properties etc. There must be some sort of arrangement
Nope - no backhanders. no brown envelopes with cash. We wouldn't take them in any event as we want a professional business relationship with the contractors. They all sign terms and conditions and are checked out for regulations. Everything is black and white and clear. I want to beable to take them to court if they screw up big time and put us into trouble.
We will bin contractors if they dont stick to their side of the contract or dont work well or we think start to over charge. We will often get 2 quotes for most works except small jobs. Yes we may get some chocolates from them at xmas but we do as well from LL and T.

Edited by superlightr on Friday 17th March 11:44

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
lizardbrain said:
Google thinks 50% of the population have pets. (62% according to one recent survey)

6% of rentals permit pets. Even allowing for ownership type the numbers suggest it’s rife!

OP I'm still curious to know what the most common response is to a pet discovery? It must happen all the time?

Edited by lizardbrain on Friday 17th March 10:29
we generally allow pets and are able to get the LL consent to pets right away - so its not been an issue.

Reptiles are though as we have had no end of issue with them/those owners which is tarring with one brush so will refuse reptiles most times - sorry Lizardbrain.

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
EmailAddress said:
As both a Landlord and a Tenant, have you ever done an inspection with your eyes open?
Sorry dont understand. Im a landlords as well. Have been a tenant. Do look at things from both sides and Agency side.

Howard-

4,952 posts

202 months

Friday 17th March 2023
quotequote all
elanfan said:
Daughter is in a houseshare. It’s been dreadful from the off. Black mould, water running down walls, treated by landlord/letting agent though mould blamed on them. Walls are damp skirtings rotten. She literally has slugs coming into her room. Numerous contractors turning up with no notice. Noise whilst daughter works from home. Thankfully only 3 months left on tennacy.

Latest is the letting agent texted her (not any of the other 4 housemates) Weds evening saying scaffolders would arrive Friday morning to cover entire house ready for contractors to remove all the render off the house to try to cure the damp issues. Talk about having quiet enjoyment of the property?

Council already involved over previous issues, daughter has copied council into email telling letting agent no. Let’s see if he listens I expect not.
So your daughter wants the mould fixed but is not happy about having contractors turn up to fix the mould? confused


Howard-

4,952 posts

202 months

Friday 17th March 2023
quotequote all
superlightr said:
we generally allow pets and are able to get the LL consent to pets right away - so its not been an issue.

Reptiles are though as we have had no end of issue with them/those owners which is tarring with one brush so will refuse reptiles most times - sorry Lizardbrain.
What's up with reptiles, out of interest? Don't they just live in an enclosed vivarium usually?

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
Howard- said:
superlightr said:
we generally allow pets and are able to get the LL consent to pets right away - so its not been an issue.

Reptiles are though as we have had no end of issue with them/those owners which is tarring with one brush so will refuse reptiles most times - sorry Lizardbrain.
What's up with reptiles, out of interest? Don't they just live in an enclosed vivarium usually?
for us it was simply the reptile owners on each occasion we have allowed reptiles have not kept to their contract. (Im sure the actual reptiles are lovely!) Its a 100% record for us of these T that own reptiles not being suitable tenants in the end. I dont know why but it has been but it has.

QuickQuack

2,193 posts

101 months

Friday 17th March 2023
quotequote all
Jiebo said:
Most cowboy landlords mortgage the property, so it’s actually the banks property, not theirs.

I’m of the opinion that landlords should legally not be able to disallow pets, as long as all damage is covered. In many ways they cause as much damage as small children.
Good demonstration of how to be totally wrong. Landlord owns the property, the bank has a charge secured on the property, but it doesn't legally own the property.

And your opinion is pretty much worthless. Pet ownership is not a protected characteristic, it's a life choice. Unlike having children, it's not a natural, biological event either, so it never will be legally protected.

aterribleusername

305 posts

63 months

Friday 17th March 2023
quotequote all
Do single tenants suffer under affordability checks compared to couples? Been massively struggling to find a new place to rent for the last year as I need to move closer to my new job and when I can get a viewing (very rarely!) I'm always being overlooked or even outbid by couples.

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
Quhet said:
superlightr said:
One of our challenges was always to educate LL that the rent should go up each year - LL would say but they are nice tenants, keep the rent low to help them etc but that was not the right way. We ran educational letters abut why to increase the rent each year and why it was best for the LL and also the T in the long run.
Why is an annual rent raise best for the tenant?

I let out a flat and have just had some tenants move out. Am being quoted ridiculous rents that I could now charge apparently. Whilst I obviously want to make some money, I'm not a so will keep my rent a bit lower as i think this is fair. I'm not going to be charging someone £1,400pm for a 2 bed in Bristol, that's madness and a third more than my mortgage for a 3 bed house. I feel really uncomfortable about the constant squeezing people of everything that they can give and it just doesn't feel right.
Its a good question and is one for which we are setting up a new business to advise Letting agents on reducing rent arrears and referencing process as we have an exceptional low rent arrear profile compared to most agents. Its valuable to agents to have tenants that dont go into arrears and can afford the property.

Its a business - the LL must look at it as a business not as charity. Clear communications is vital otherwise it goes wrong very quickly. Why would you not want the best rent and best tenants on the first let?


If we have an offer from a tenant we think will be great then we will recommend a small discount if it enables that great tenant to rent the property. BUT if they are already stretched to need a discount then perhaps they are not the most financially sound tenants available.

For the first letting then it will be at max rental or pushing higher if we feel the market will take it.
for the renewal it will be to advise the LL of the current market rent IF it were re advertised and make a recommendation of a slighly lower amount to offer the tenant for a renewal depending on a new fixed term or periodic etc.
We highlight that if they dont increase it then the rent becomes so out of touch with the real market rent it will then jepodise the whole tenant/LL relationship when the LL does want to increase it.

we had a LL not increase for 4 years the rent they lost was thousands and then when they tried to increase the tenant got cross and didnt feel that amount of increase was fair ie £500pcm increase where as a £100pcm increase each year would more likely have been acceptable and kept the tenant in their home happy and the LL happy. It was also more likely that the owner would have agreed say a £70 or £80pcm rather than £100 but as there had been no increase the jump was too large.

superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
Previous said:
Fantastic thread OP.

You've mentioned it's all about the right Tennants (and LL too)

What would be your red flags for a Tennant, and how did you handle them (simply a "we've already had an offer however if it falls through well let you know" type discussion).

Do references really tell you that much?
good question,

100% getting the right tenants is key. Hence we were really tough in the checks we did - way more then most of our competitors and thus had much lower defaults or issues.

The main online referencing companies are easy to fool. Ive tested them. Ive seen the results of their surface checking with other agents.

We use them for basic checks as does everyone but we go much further in our checking.

Reptiles are a no.
IVA/Bankruptcy/CCJ's are a no. CCJ's dependant but rarely a yes.

We pre-vet with set forms which we are developing to use with our next business so I wont give much away on that but its a more investigative type of referencing then is done at present by most.

We wont even show if they dont pass our initial checks.

If they are not going to pass or not suitable we will be straight with them and say that we are much stricter in the referencing process and they would not pass our referencing process on the info they have already given but they may well do so with xyz letting agents.

or the reasons why another person was chosen above them - there will be documented reasons why after taking instructions from the LL we went with another prospective tenant. That can be hard as you can have a good tenant and an excellent tenant - both are likely to be suitable but a choice has to be made.

Once the ref process has started in full then if they have misled us or lied then thats one of the grounds under the Tenant Fee Act 2019 to withhold the holding fee. Again we tell them exactly why they have failed - ie misled us by saying no CCJ's when they do and that the Act allows for the fee to be held.

Im brutally honest and open with landlords and tenants ( I dont deal with tenants but staff are told to be open and confirm in writing them warts and all if we cannot proceed)

bear in mind as ex lawyers we are carful to cover legally our own backs and ensure legal compliance for our landlords and tenants. hence a previous poster said they want to get into letting business having looked after 4 properties and why I would not recommend doing so on that basis if they have not understood the hundreds of laws that apply and pitfalls.




superlightr

Original Poster:

12,856 posts

263 months

Friday 17th March 2023
quotequote all
aterribleusername said:
Do single tenants suffer under affordability checks compared to couples? Been massively struggling to find a new place to rent for the last year as I need to move closer to my new job and when I can get a viewing (very rarely!) I'm always being overlooked or even outbid by couples.
Good point. from just a financial side (there are other checks we do ) if you as a single person can afford the rent/eartn income ratio then thats fine.

if the ratio needed is say £25k a year im not worried if you are on £25k or a couple are on £50k.
we then go down the other checks and process.
In some ways the couple may be more of a risk in one aspect as they may split up. depends on how long been together/married/rented together before etc?

After Xmas each year you have the influx of breakups and new partners looking to rent holding hands and being very lovey with each other in the offices etc. inevitable they dont last long. Hence why we would be very happy with you as a single person and can afford the min rent ratio.

We try not to get into outbidding - its more then just the money we want the best tenants, best rent and then soonest move in. We were good at getting all 3. but no you being single would not be negative and infact a small plus on our criteria. just dont have a reptile.