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Advise!!!!
atik_stepney
Posts: 13 Forumite
I have recently purchased a couple of properties and have now completed all the work on them.
I wanted to know what the best way of renting them out was, either through a letting agent (whole house), or each room to uni students etc.
I wanted to know what the best way of renting them out was, either through a letting agent (whole house), or each room to uni students etc.
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I'm worried you have renovated these properties without planning who you were going to rent them to. If you rent them on a room by room basis and certain other conditions are met, you may have a House In Multiple Occupation (HMO) which has a whole set of rules of its own for you to comply with. Please post more details, particularly number of rooms and numbers of tenants.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
One has three bedrooms and the other has two.
Where can i find info/guides on the regulations regarding renting of properties, and general property management books???0 -
Do you plan on managing the properties yourself, if so are they close to where you live? Beleive me it makes a big difference!!
Will the money that you get by letting out individually be that much different from letting out the whole of the properties! If there isnt that much of a difference I would just rent to whole property rather then individually to avoid HMO issues.Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!
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thats what im not sure about, is it worth managing them myself, there both within a mile of where i live0
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Managing properties depends on a lot of other things as well, such as will you have the time, do you have the expertise/contacts to get repairs resolved quickly!
If you have recently renovated the houses then I would assume that the houses should be in order and nothing major should be going wrong (hope you havent taken any shortcuts when carrying the renovations). So if it was me personally, I would manage them myself and save on the fees that I would have payed an EA to do.Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!0
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