would you?

BIZZYIZZY

can I ask a question of the landlords on here please.
If some one that you either knew or knew of, Asked you could they rent a flat from you for 6 months, But they wanted to use it for PhD students from husbands work, but they would be going in every day to cook dinner/clean etc, what would be your reaction?
And it goes without saying that it would be well looked after.

DawnW

I would want to make further enquiries - no objections to PhD students (I have been one) - but why can't they just rent a flat / flats for themselves? They are adults - why would they need someone to 'go in every day'? Wouldn't they find that a bit intrusive?

theartfullodger

Sounds like a possible fiddle...

I agree with DawnW - rent directly to the students. If the students want someone else to cook for them, that's their decision... Might want the "Friend" to act as guarantor...guarantors usual with students

Cheers!

Lodger

mlz1413

If you rent to the friend direct then they can have anyone stay they want to, but your buildings insurance could well be invalid as the named tenant is not resisdent.

I agree with DawnW why can't the students rent direct?

Also "it goes without saying that it would be well looked after" how do you know this? are you getting a double deposit?

PasturesNew

How many? Would it become an HMO? A Guest House? Might be issues there too to think about.

tbs624

mlz1413 wrote: »

I..I agree with DawnW why can't the students rent direct?...

Because then the OP wouldn't be making any money out of the arrangement..........;)

BIZZYIZZY

It is 2 students coming from abroad for just over 5 months, we usually have them to stay with us as lodgers /paying guests, and we can't this time, so it was just an option I was thinking off

Jowo_2

BIZZYIZZY wrote: »

can I ask a question of the landlords on here please.
If some one that you either knew or knew of, Asked you could they rent a flat from you for 6 months, But they wanted to use it for PhD students from husbands work, but they would be going in every day to cook dinner/clean etc, what would be your reaction?
And it goes without saying that it would be well looked after.

I'd never mix business with the personal and would be unlikely either to let to friends or let them manage a property for me. For example, few of my friends, as much as I love them, would I ever consider living with or employing. As pals, they are great but as organised individuals, generally not.

Landlord forums are choc full of stories of someone entering into an informal agreement with someone they know only to rue the day that they trusted them - the tolerance that goes with friendship should never be brought into the realm of business. It's bad business and has the potential to ruin a relationship.

If she's interested in doing a board and lodgings service for students, then she can take the investment risk herself and you can offer to give advice to her. Or you can manage the letting yourself, while her husband sources the tenants and you employ her as the cleaner. Why are you happy for someone to pimp off your investment anyhow?

If you do think her business plan is sound, then you will have to go through all the formal motions of property letting with her - screening/credit check, inventory, deposit, tenancy agreement that permits her to sublet but ensures she pays you a fixed monthly rent and takes over all bills for a fixed period.

And what if she doesn't manage a decent occupancy? I bet she expects she can beg a favour for you to drop the rent. Then what are you going to do? Refuse and get struck off her Xmas card list?

And what are you going to do with the property for the other 6 months of the year when there are no students around?

What students these days want to be cooked for, anyhow, or want a landlady in their face every day?