RENTING? Check your LL has permission to let that property.

bobbadog

silvercar wrote: »

Morally, you don't intefere in her business. Morally you could inform the tax authorities if you suspect that the income hasn't been declared (or more likely the loss)

As a protection for you as a tenant, you may want to inquire of the landlord if she has consent to let and if so why post is coming to you. You then have the knowledge on what could happen if she got into arrears. If I had a sudden increase in post I may acidentally open one of the letters and check there weren't arrears.

What action you take depends on whether you want to remain as a tenant and for how long.

Thank you - we've actually handed in our notice so will be leaving at end of March anyway, so I feel relatively safe - To start with I just presumed Alliance and Leicester were being slack, but she's had 4 or 5 letters this past week or so, so i'm getting slightly concerned! Will forward them all asap and hope she's ok money wise (she upped our rent a while ago so sure it does more than cover the mortgage)

cantbehelped

silvercar wrote: »

Please tell us you have the correct building insurance and gas certificates.

Oh yes I do have all correct and relevent certificates for gas (as I had a new boiler installed) I also have correct landlord biluding insurance.

I just do not have the say so of my mortgage company.

franklee

cantbehelped wrote: »

I let my property out - I had to otherwise I wouldnt be able to afford the repayments. I asked my mortgage company and they said no I wasnt allowed to let it. But I did anyway, I had no other choice exceot rent or reposession.
The people in my house are friends of a friend and they are aware of the situation. I have to get my mortgage statements etc delivered to the house (although I am going to get a redirection done I think).
I'd have loved for me to do it properly ...

Well at least as a friend you will keep your tenant informed should you fall into arrears, which I suppose is possible if you are operating on so thin a margin. I think that seems to be the reason why lack of consent happens so often, many landlords are renting out on a shoestring. Obviously something going wrong could easily push them into arrears which then leaves the tenant unable to reply upon the tenancy agreement yet still bound by it.

franklee

bobbadog wrote: »

My landlady regularly (and exceptionally regularly just recently) gets post sent to her at the flat which we rent, from Alliance and Leicester/ I presume that's who her mortgage is, and as we moved in 19 months ago, that her 2-year rate is about to come to an end as the post has massively increased as late! I forward it on to the address she lives at, but I think her mortgage company reckons she lives in the flat I let. Morally, should I inform them that she doesnt?

Depending on what's in the letters it's the next tenants who will be vulnerable. Some landlords let out again even after they have got into arrears, are facing repossession, or have been given a possession order. Thing is the new tenant just doesn't know about any of it. The property being empty between tenants after you leave could well be building up arrears on the mortgage.

So depends if you care about the next tenants I guess.

confused31_2

Ive just had permission off my mortgage company to rent out my house for the next three years, and they are leaving me on my fixed rate.

They are sending the paper work out now, got the letting agent phoning me up tomorrow.

To be honest i dont know why i never done it earlier.

mrs-puff

Just read this thread.

Don't people have to declare themselves to the taxman if they're renting out a house ? Never mind the 'oh don't bother telling the lender and how dare the tenant ask me for proof' stuff.

Isn't collecting rent from anywhere termed as a business ? Or have I missed something ???

I trust all those who are advising those not to bother telling their lenders, would on the other hand be making clear in their posts that the taxman should be informed either way, profit or loss ?

Or am I just thick ? And should'nt have bothered registering as a business myself for flogging about £100's worth of ebay stuff, if I'm lucky, a month ( while I'm renting ) trying to save up for a deposit ?

silvercar

I trust all those who are advising those not to bother telling their lenders, would on the other hand be making clear in their posts that the taxman should be informed either way, profit or loss ?

I agree and to get gas certificats and building insurance that allows for tenants in the property.

The inland revenue counts lettings as unearned income, it is not the same catagory as running a business. The information needs to be included on a tax return but you don't need to notify the tax office that you are running abusiness in advance.

MissMoneypenny

Just reminding tenants to check that a landlord has permission to let.

franklee

There has been a "steep rise" over the last six months in numbers of tenants evicted after landlords defaulted on mortgages, Shelter has warned.

http://news.bbc.co.uk/1/low/uk/7903101.stm

Tenants can get just days' notice to leave their home, says the charity, which wants ministers to "act quickly to give tenants far, far longer". ....

socrates

MissMoneypenny wrote: »

Just reminding tenants to check that a landlord has permission to let.

Just reminding LL's to check that their tenants can afford to pay their rent by having an insurance like Homelet in place.