First time landlord - Advice :)

Hector-The-Inspector_2

How bad is that?

Very poor! as PL says, ask to see the credit report from experian etc.

tbs624

Karen -if you have been a LL for eight years then you should know by now to read through all the small print, both in the contract between you and the LA, and the contract used by the LA for the tenants.

*You* presumably took out the LL insurance and the rental protection insurances but hadn’t checked the small print of either of those until you needed to claim?

Your LA will probably have earned a commission on your policy- did you ask at the time whether this was the case?

It's also worth remembering that if your LA has interests in, say, a services firm of less than 24% (IIRC) s/he does not have to notify you when recommending the use of that firm so check out painting & decorating companies, handymen provision etc before you agree to what can be overpsiced rates via the LA.

If you are paying for full management and your “ARLA registered agent” is not doing simple things like appropriate credit checks to comply with the requirements of an insurance policy that s/he encouraged you to take out then you need to be having a serious chat with them. Even when an agent is ARLA registered you may still get individual members of staff who do not fully comprehend what they are supposed to do: the only requirement AFIAA is that each member firm has a principle partner or director who has passed a basic exam.
If you are paying them to do a job on your behalf then you need to tell them what *you* want doing and check up from time to time: ultimately you as LL are responsible if everything goes belly-up.

becksbee_2

hi there - can anyone tell me is an inventory a legal requirement when letting your property? and can you agree between parties to do it ourselves?