advice re renting out

skinnygirlnot

Hello,

I have been left a property in my mum's will and have decided to rent it out so will be on this board asking lots of (probably silly) questions therefore please be patient with me as I find it all confusing.

Anyway, could anyone tell me if they have had dealing with this company-it really seems too good to be true. There must be a catch to it and I'm sure that experienced landlords on MSE can spot it.

http://www.fixedrent.co.uk/?gclid=COu-k4-6uZgCFVaK3godRBd3YQ

Unfortunately I'm in zone 3 so may not work out anyway.

Thanks

socrates

Follow the advice of the "in" crowd on here for new LL's


"if a prospective new LL cannot sign onto another forum and do a bit of reading to research his new business - god help his tenants when they need urgent help"

"stop demanding spoon feeding for newbie lazy landlords - they are all grown adults wanting to start a business - its called doing Research and forming a Business Plan - start a new thread, its not rocket science"

"going into business is about self-reliance, responsibility for your own actions, accountability

and if new landlords can't even be *rsed to do a bit of web research before starting a new property business (a business which affects folks lives in serious ways) - god help us all from their ineptitude"

"if anyone is going to become a good LL they need to use websites which are set up by professionals who give accurate legal advice - this site is NOT one of these.

On here, some of the same old, same old, rubbish legal chestnuts get repeated ad nauseum till newbies may well come to accept them as true - or alternatively they are offered so many different answers, by so m any different posters, to a simple question, that they are no wiser than before

Joining NLA and using www.landlordzone.co.uk are 2 of the more profesional ways to find the truth about what is required of LLs -

this site is PURELY individuals opinions.

A new LL needs accurate info - this site is no guarantee of that - useful as it is on many many occasions and amusing as it is on occasion."

Gorgeous_George

They (fixedrent) may be ok but if they don't know the difference between 'than' and 'then', I'd give them a miss.

What is the potential yield (after tax)? It may be better to sell it.

GG

poppysarah

Why not sell it? Have you considered this? Less hassle in the long run.

skinnygirlnot

Thank you, Socrates, but I'm not sure quite what your point is

I am new to all this and I am surfing the net finding out all about becoming a LL.... and that is how I stumbled upon 'Fixedrent'.

Don't you worry I am perfectly capable of educating myself and will do so.

I am so sorry I have used up a thread on this forum. I shall go back to the old style forum where people are much more helpful and polite.

poppysarah

If your mother left you a coal mine would you learn how to be a coal miner?

socrates

skinnygirlnot wrote: »

Thank you, Socrates, but I'm not sure quite what your point is

I am new to all this and I am surfing the net finding out all about becoming a LL.... and that is how I stumbled upon 'Fixedrent'.

Don't you worry I am perfectly capable of educating myself and will do so.

I am so sorry I have used up a thread on this forum. I shall go back to the old style forum where people are much more helpful and polite.

I was quoting - other people on here - these are not my comments.

I was equally appalled!

Gorgeous_George

For the fixedrent business to make a profit they will need to secure your house at a good discount to the market rent. It may well be a good way to deal with your property.

GG

Swipe

Get shut of the damn thing. Much less worry and enjoy the money instead rather than years of repairs, voids, hassle, tax returns and rising insurance.

In a few weeks I'm about to find myself with 2 houses. There's no way I'll be renting one of them out, I'll be offloading it ASAP.

skinnygirlnot

Sorry Socrates. As I said, I didn't really know how to take your reply.

I can't believe those quotes. What is the point of forums if not to also help each other out?

I am amazed you were able to get your hands on those quotes. Were they replies to one of your posts? No wonder you were appalled.

Seems I'm having another dense moment but, Poppysarah, I don't get your post either?

My mum left me a house and I need to decide what to do with it:sell it or rent it out. With the current housing market I thought it might be better to rent it out until things picked up a bit. But if my mum left me a coalmine I'd never have to pay fuel bills again!!:p

Gorgeous_George

Many people do not expect things to pick up.

How much is it worth and what rent would it make?

GG