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

Geenie

jstvj wrote: »

Thank you for your concern and best wishes. I have known of this problem for some years and with full or part full lettings have been able to keep up with the problem. However, as income drops, these extra overheads do become a major problem. As usual there is no help from any sources, especially down in Cornwall.

Makes me mad, all the billions being wasted to bail out so many other loss leading businesses. Still, that's another subject.

Back to my subject, so much is said about the lack of affordable housing and the numbers of homeless, so why is it that good Tenants are so apparently scarce

I would forget the free rags and pay to advertise in the local newspapers. Here in Exeter, we advertise in the Express and Echo and Western Morning News as part of a package, and always get a very good response, as people know to look in these if wanting property in the area. And include a picture if possible, as we have found this makes a big difference.

As you say, holiday lets are good money, but a lot of work.

chickmug

lynzpower wrote: »

Wish you all the best though, maybe an estate agent is the best way to go to get it on rightmove?

Yes but whatever you do jstvj be very very very wary of Business Selling Agents as they can make the worst EA's look like angels. And they try and charge high up front fees. From a few hundred up to a few thousand.

jstvj

lynzpower wrote: »

I wonder whether this is an oversupply issue?

How is employment in your area, sorry Im not familiar with it

The difficulty coud be that if many people have been laid off/ not working etc and you wont accept DWP, then you might be chasing an ever decreasing supply of tenants, if you are wanting "professional workers" Plus moving itself is costly, so people wont move unless they have to?



Wish you all the best though, maybe an estate agent is the best way to go to get it on rightmove?

Cornwall is notoriously poor for employment and even during the holiday season, when work is plentifull, the wages are rarely much above the minimum wage.

I am one of the few Landlords who will accept benefit claimants, but as I have said being a Resident Landlord and in the interests of my existing Tenants, I must have an acceptable level of standard. Apart from that, if for instance I put property on the local authority lists (I dont know what they call it) whereby they could send anyone along, I would find it impossible to get Insurance Cover. Over the years, I have had to assure the Insurers I would personally vet applicants.

I have always joked (with tongue in cheek) that only benefit claimants can afford to pay the rents, but that is largely true. Mind you I only charge per week, £80 for a one bedroom and £90 for two, which is lower that LHA (based on Plymouth) and is rediculously affordable for the area. Problem is wages are so low, the workers find it hard to pay even that.

jstvj

Geenie wrote: »

I would forget the free rags and pay to advertise in the local newspapers. Here in Exeter, we advertise in the Express and Echo and Western Morning News as part of a package, and always get a very good response, as people know to look in these if wanting property in the area. And include a picture if possible, as we have found this makes a big difference.

As you say, holiday lets are good money, but a lot of work.

Yes, I think you are right and will certainly give it a try. I did try the local press a few years back and was quite disappointed in the response. Trouble is when you are working to a budget (accepting lower income by providing the lower rents) it becomes a vicious circle

geoffky

the answer is FEAR a lot of people just do not know whats around the corner...also every tom !!!!!! and harry is trying to let their house out because they dont want to face the fact that their precious home is not worth what they want......too much supply


http://www.landlordzone.co.uk/index.htm

jstvj

geoffky wrote: »

the answer is FEAR a lot of people just do not know whats around the corner...

I couldn't agree with you more. Obviously it is very sad when so many are loosing their jobs (who am I to moan) but I think it is absolutely disgraceful that through no fault of their own, homeowners are loosing their properties because they cannot continue to pay the mortgage. Firstly the lenders who repossess, then sell the properties at considerable less than their worth, so they rarely recover their money. Meanwhile the person re-possessed is left still owing the short-fall, which adds salt to the wound and probably ends in bankrupcy. Consequently, in addition to JSA or more likely incapacity benefit due to stress etc have to find rented accommodation (where are they ?) paid for with housing benefits. Surely, if the Government intervened before repossesssion, paid those housing benefits or thereabouts to the lenders to cover the interest on the mortgage, the home owner could stay in their home and re-start paying the full mortgage, when they find employment again. After all, people who buy their own homes are not scroungers, they have worked all their life, otherwise they would never have been able to save the deposit for their home or pay the mortgage, until
the Governments, Banks and other institutions fail them.

OK, off my subject completely, so I appologise for ranting on.

Thanks to everyone who have taken the time to contibuted to my thread. There is always someone worse of than you (me)

Goodnight and God bless all.

jstvj

socrates wrote: »

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.

Dear Socrates

I was interested in your tip about giving HB Tenants a rebate, but how would this work. As far as I can see I would have to advertise rent at. say £95.00 (which would be the LHA and the amount declared to the Local Authority by myself and the Tenant) and then unofficially tell the Tenant (in the advert) I would want only, say £80. Would this be legal and/or ethical ?

If not, and the Council found out, what then ?

Your comments on this would be appreciated. Thanks

socrates

jstvj wrote: »

Dear Socrates

I was interested in your tip about giving HB Tenants a rebate, but how would this work. As far as I can see I would have to advertise rent at. say £95.00 (which would be the LHA and the amount declared to the Local Authority by myself and the Tenant) and then unofficially tell the Tenant (in the advert) I would want only, say £80. Would this be legal and/or ethical ?

If not, and the Council found out, what then ?

Your comments on this would be appreciated. Thanks

Firstly you must get the exact LHA rate for your property.

Your tenancy agreement will show a rate £15 per week (best to work in weeks with these matters) less than the LHA rate. The tenant will receive the LHA rate and pay you what it says on the tenancy agreement.

It is totally legal and above board - ethical I cannot say the govt introduced it and set the rules.

One other tip is to go along with the tenant (hopefully you get that far) when they go to the LA housing people and get an authority from the tenant to be able to discuss the claim. Get the T to set up a standing order and go with them to the bank to hand it in.

Another thing to bear in mind is that T will be paid 2 weekly. If the payment does not reach you on time - immediately contact LA and ask them to put the claim on hold and investigate why you have not been paid. The old myth about having to wait 8 weeks is exactly that.

There are loads of other tips but firstly get an LHA tenant and we can cover the rest later.

jstvj

socrates wrote: »

Firstly you must get the exact LHA rate for your property.

Your tenancy agreement will show a rate £15 per week (best to work in weeks with these matters) less than the LHA rate. The tenant will receive the LHA rate and pay you what it says on the tenancy agreement.

It is totally legal and above board - ethical I cannot say the govt introduced it and set the rules.

One other tip is to go along with the tenant (hopefully you get that far) when they go to the LA housing people and get an authority from the tenant to be able to discuss the claim. Get the T to set up a standing order and go with them to the bank to hand it in.

Another thing to bear in mind is that T will be paid 2 weekly. If the payment does not reach you on time - immediately contact LA and ask them to put the claim on hold and investigate why you have not been paid. The old myth about having to wait 8 weeks is exactly that.

There are loads of other tips but firstly get an LHA tenant and we can cover the rest later.

Many thanks for your most helpful advice. Our Council always insist on inspecting the Tenancy Agreement and of course, I always have to complete a rent proof form, when the HB claim is submitted. Are you saying that the LA will ignore the agreed rent and still pay the claimant the LHA amount ?

socrates

jstvj wrote: »

Many thanks for your most helpful advice. Our Council always insist on inspecting the Tenancy Agreement and of course, I always have to complete a rent proof form, when the HB claim is submitted. Are you saying that the LA will ignore the agreed rent and still pay the claimant the LHA amount ?

Correct - its like having a budget - the tenant is then able to negotiate on the basis of their room entitlement - BUT they can only get a maximum of £15 a week.

Forget HB that is out of the window - work on the basis of LHA from now on.