advice re renting out

clutton_2

THE most iniquitous clause which a LA might try to foist on you will be "if the tenant we find subsequently buys the property the LL agrees to pay the LA 1.5/2/2.5% of the selling price !!!!

for what ?????????????

On the rare occassion that i have used a LA i have simply crossed this out and initialled it, to indicate i do not agree with that clause.

Debt_Free_Chick

Looking at this from an investment point of view ....

The property market may well pick up "in the future" but does that matter? If the house is worth more in five years time, then you have to offset five years loss of interest (compared with cash in the bank) and five years worth of costs (maintenance and insurance etc) against the capital gain. Add in voids, unpaid rent and costs to recover debts etc and it all starts to look less attractive than just the headline rent.

I look at it this way .... If you had £x cash today, would you invest it in a rental property?

As for having something to pass on to children, surely cash is better if there's more than one child? Despite what your will might say, you can not physically pass on a proportion of a property.

franklee

tbs624 wrote: »

Most regulars on this board will be aware that I don't hold LAs in particularly high regard. However, whilst I agree with franklee that it seems strange for a website for any company who wants to deal with property and finance to not give *any* relevant info about themselves, the domain name appears to have been registered by Cavenidsh Rowe who self-describe as "one of central London's fastest growing and leading independent estate agents.... With over 25 years experience of the property sector". CR Paddington is registered with ARLA. So, Skinnygirlnot could ring CR and ask what exactly the links are & whether they can give her further info.

If they are backed by a named company then their website should say so. It's not up to customers to root about domain names to get even the company name (check it fine, but obtain in the first instance!). If they can't be bothered to present themselves in an appropriate way then why should they be bothered to look after someones property? The is no saying that the website operation is ARLA registered, as if it was they should say so. It's either suspect, incompetence or sloppiness, in my view, not good either way.

franklee

Very odd:

Sponsored Links at top of page, second one down is:

Why Rent to the Council?
London landlords, get a guaranteed Fixed Rent paid within 5 days! www.fixedrent.co.uk

http://209.85.229.132/search?q=cache:TopTEmhmlaMJ:https://secure.192.com/directory.cfm/NEWHAM,_LONDON/LETTINGS+fixedrent.co.uk&hl=en&ct=clnk&cd=14&gl=uk

Again if this was OK then why doesn't the website say who they are and what they are doing?. Any landlord could approach the council directly if they wanted to go that route.

franklee

Connection between Cavendish Rowe and fixed rent:

"I neeed someone to produce a logo for me.

We have an existing design and brand and this logo needs to reflect that.

It needs to be modern and simple but striking.

Check our website for styles www.cavendishrowe.com

The logo will be for a new website fixedrent.co.uk and the sub title should say 'The hassle free solution for landlords'"

http://www.peopleperhour.com/freelance_jobs_work_projects/Design/Logo_Design/4895

So an EA with what appears to be one office fronting passing lets on to the council via fixedrent with no acknowledgement on fixedrent that they are of Cavendish Rowe and no acknowledgement on Cavendish Rowe's website that they run fixedrent. Would I give my property to these people, ummmm, no.

franklee

skinnygirlnot, You could research letting to the council for yourself by asking them what properties they are looking for. If you let them have it for several years then you will probably get offered a fixed rent and repairs being done if your property is one they want. So if you want to give that a go ask the council directly.