Questioning new tenants??

gedharvey

Im a commercial estate agent by trade, but im just about to complete on a small investment B2L.

it's a 2 bed terrace, in an 'ok' area...has new windows/boiler/kitchen/bathroom and is structurally sound.

Cost me £58k. perfect B2L property.

now in Blackpool the government pay £120pw in housing benefits for a 2 bedroom house, this means a gross initial yield of approx 11%, which is acceptable for a residential investment.

now, my question is, im in the commercial sector and know all about finding good tenants for commercial property, but need to learn how to steer clear of poor rezzy tenants.

when i show them round, what questions can i ask to catch out bad tenants?

im realistic, and i am choosing to deal with the lower class of tenant, as they offer a strong rental and are probably as troublesome as private tenants anyway from what ive heard. i would prefer a single mum with a couple of kids as they seem to stay put when they settle down in a new house, and will be getting a decent amount of benefits due to the kids so in theory should have a greater ability to actually pay the rent lol

so to cut the waffle, please advise me on choosing a suitable tennant, and what (realistic) measures i can go to to at least minimise my risk (bearing in mind im dealing with scummers anyway lol!)

MX5huggy

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

gone4gold62

if this isnt a wind up [troll]who on earth would want some one so pompus !! for a landlord /lady .,omg

Ilian2008

Whats the difference between making a decision for a commercial tenant and a residential tenant? Its the same premise surely? You still tend to use references for what theya r worht and you should ask the same questions?

gedharvey

i may have worded that a little harshley/bluntley, but we all know what i mean.

lets not get all PC and try and argue that DSS tennants are upstanding members of the community. although there are some cases where they are nice people, MOST are 'characters' who'll be cracking open cans of Skol at 8am in the morning.

i sell blocks of permanent flats day in day out at work (well, i did before the crunch), most are full of DSS tenants and most flats are disgusting/smelly/messy. The blackpool flat investment market is based on the £87 pw paid in housing benefits for a 1 bed flat, fact. this is what has led to the demise of Blackpool flooding areas with rough tenants, i dread to think how the blocks of flats will devalue if the benefit rate comes down, but thats another story ).

So, although im a little sharp tongued, we all know where im coming from.

the PC keyboard warriors can go and find a thread elsewhere to destroy with their garble.

Thank you.

PasturesNew

gedharvey wrote: »

... small investment B2L.

... £120pw in housing benefits for a 2 bedroom house, this means a gross initial yield of approx 11%, which is acceptable for a residential investment.

... i am choosing to deal with the lower class of tenant .... i would prefer a single mum with a couple of kids as ... (bearing in mind im dealing with scummers anyway lol!)

SUE!!! Where's SingleSue when you need her??
SUE!!!!

Come on lovey, it's your favourite posting time.

PasturesNew

gedharvey wrote: »

... lets not get all PC and try and argue that DSS tennants are upstanding members of the community. although there are some cases where they are nice people, MOST are 'characters' who'll be cracking open cans of Skol at 8am in the morning.

S I N G L E S U E !!!
Come on, quick...

eco-friendly_2

im realistic, and i am choosing to deal with the lower class of tenant, as they offer a strong rental and are probably as troublesome as private tenants anyway from what ive heard.

Not always! :rolleyes: