Letting? Your top tips please.

G_M

This post has been moved. Please go to

Tenancies in Eng/Wales: Guides for landlords and tenants :


Topics covered:

* Deposits (payment, protection, return)

* Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy?

* Rent increases: when & how can rent be increased?

* Repossession: what if a LL's mortgage lender repossesses the property?

* New landlords: advice, information & links

* Letting agents: how should a landlord select or sack?

joerugby

Recognise that BTL is not simply an investment, it's a business. Prepare a proper business plan.

SuzieSue

The_Drama_Llama wrote: »

The best flat we ever rented we found on Gumtree and never had to deal with a letting agent. .

I also know someone who found a long-term tenant on Gumtree and it does work, however you need to be aware that Gumtree has its fair share of fraudsters so you need to be very careful.

G_M

SuzieSue wrote: »

I also know someone who found a long-term tenant on Gumtree and it does work, however you need to be aware that Gumtree has its fair share of fraudsters so you need to be very careful.

Very very careful.

Gumtree? :rotfl:

SuzieSue

G_M wrote: »

Gumtree? :rotfl:

Yes, that is what I thought, but he managed to get a foreign corporate tenant through it who has stayed for 3 years now and has actually improved the property (he fixed a squeaky step amongst other things).

The_Drama_Llama

Yeah...we were worried about the Gumtree thing too (especially when the previous tenant was a bit rubbish at giving us the keys). But it worked for us.

[Deleted User]

Thanks for your help guys, it is appreciated!.
I will keep you updated, I am sure I will be back to ask more :-)

Geenie

assj wrote: »

Hi All

I am planning to let my house shortly, its a nice house and has a nice but small garden. I wanted to ask if it would be allowed to have a gardner come in and keep the garden even with the tenants.

And I also need your top tips?

Thanks muchly.

I let properties that have a gardener included. They start off as part of the agreement and then subside once the tenant has taken on the property and show they will tend to the outside and will up keep and make their own. All of the properties I let are in the countryside, have fields backing on and in some cases outbuildings that need weed control around the perimeters.

I have to say that my experience over 20 years is that benefit tenants are the ones that need to have a gardener attend. They do not do anything outside apart from dump their rubbish unfortunately.

Wyndham

Re: Agencies. I'm currently working away from home in the week and renting a flat in another city. When I was looking, it didn't occur to me to look anywhere than with agencies. My thinking was that it works both ways, and I was more likely to get a decent landlord. So far, so good....(mostly!)

I think something like gumtree carries more risk. It's said that 10% of tenants are bad, and 10% of landlords are bad. If they all end up together then it's fine, but mostly they don't!

theartfullodger

Only go into lettings if you have the emotional & financial reserves to cope with the "tenant from hell" (or the "agent from hell") who doesn't pay for, say, 7 months whilst you keep paying mortgage & legal fees to get them out.

Recognise there are snake-oil salesmen out there punting get-rich schemes, guaranteed rent schemes, buy-below-market schemes, become a millionaire-in-6-months schemes, take-my-training-course & you'll be rich schemes: All crooks & shysters we don't want in out country..

Assume some years you will make a loss: That way it won't come as a surprise.

Treat your tenants with decency & respect. The place become their home, their property (oh yes, their property - see
http://www.landlordlawblog.co.uk/2010/08/31/urban-myth-when-a-landlord-lets-a-property-its-still-his/
- your investment only whilst they remain there..).

If you treat them decently there is a chance they might treat you & your investment decently also. If you treat them like dirt, guess what happens??

Cheers!

Artful