Vacant Apartments ???????????

jstvj

I have a block of 10 apartments in a Cornish seaside town, seven of which are vacant and there are no enquiries.

The apartments are well furnish, full sized, with lovely views and the rents are very reasonably priced. We accept DSS but no takers, why ??????????

nervousmother

What rent are you asking? could it be that the HB would not cover the rent meaning people would have to top up too much?
How well advertised are they? doing it yourself or through LA?

jstvj

The rents I charge are below the Housing Benefit rates, so claimants do not have to top up. Being a resident Landlord, I don't use letting agents (couldn't afford them)so there is no admin charged to me orthe Tenants. I mainly advertised in local shops and free advertising sites inthe web.

nervousmother

Look into a advertising pack only through letting agents, should pay round about £100 to advertise on all major websites. Also look at advertising in local property guide. Failing that I would consider a let only package through a letting agency, making sure you only pay 1 fee so no hidden costs, they have benefit of shop windows where people will look when looking for a home.

socrates

jstvj wrote: »

I have a block of 10 apartments in a Cornish seaside town, seven of which are vacant and there are no enquiries.

The apartments are well furnish, full sized, with lovely views and the rents are very reasonably priced. We accept DSS but no takers, why ??????????

Have you been to the surrounding local authorities and asked them if they have any tenants who are in temporary accommodation - who want to move into private rented?

jstvj

In the past the District Council have contacted us to see if we have accomodation available but that seems to have dried up though. However, I will make contact with them tomorrow and let them know the situation. The only downside of this route seems to be the type of Tenant they offer. I do not want to appear to be prejudice towards any particular sector, but as I live on the premises and the apartments are all in the same building, I must be careful as to whom I let to. Unfortunately and I suppose by nature of the situation most of these type of referals are frankly, quite unacceptable or for one reason or another do not last for long. I know beggars cannot be choosers, but I do have to try to maintain certain standards, otherwise my life and the life of my others Tenants would be hell.

Poppy9

Is student lets an option?

jstvj

Students, not really because there are no colleages or universities nearby. Our nearest city is 20 miles away where there is a uni but understadably students won't travel that far and prefer the city.

Alybea

Are they furnished? would you let them unfurninshed? If i was going to move I'd only look at unfurnished as i have a house of my own furniture? Are you advertising in the windows of 'nice' shops? Do you have a sign on the wall of the building?

jstvj

jstvj wrote: »

Students, not really because there are no colleages or universities nearby. Our nearest city is 20 miles away where there is a uni but understadably students won't travel that far and prefer the city.

The point is that up until recently we have never had much of a problem finding new Tenants. Also with so many unfortunate people loosing their own properties I would have thought there would have been a glut of people looking for rented accomodation. Furthermore, new building is at a virtual standstill, so where are all the prospective Tenants hiding ?

socrates

jstvj wrote: »

In the past the District Council have contacted us to see if we have accomodation available but that seems to have dried up though. However, I will make contact with them tomorrow and let them know the situation. The only downside of this route seems to be the type of Tenant they offer. I do not want to appear to be prejudice towards any particular sector, but as I live on the premises and the apartments are all in the same building, I must be careful as to whom I let to. Unfortunately and I suppose by nature of the situation most of these type of referals are frankly, quite unacceptable or for one reason or another do not last for long. I know beggars cannot be choosers, but I do have to try to maintain certain standards, otherwise my life and the life of my others Tenants would be hell.

The LA have a duty to keep info about tenants confidential BUT they have to answer this question:

"Is there any reason why this tenant cannot have LHA paid to them directly"

If they answer "yes" then you know they are the wrong tenant.

Here is another tip - you can actually advertise that your property is £15 a week below LHA - this means the tenant is entitled to keep the £15 and it will not affect their benefits.

Not all the people on their lists have "issues" - some are people who have fallen on hard times.