Student Rental prob

melancholly

MTW wrote: »

We estimate the house is worth in the region of 100K and that it realises around 33K per annum. Power is included in the price so there will be some bigish overheads but I think conservatively they are realising around 20K per annum profit before tax. Nice work if you can get it.

i wouldn't focus on that at all..... that's not really relevant (and the costs of annual refurb on student houses will be more than you could ever estimate!). anyone renting out shared houses could be making that kind of profit: if they do their jobs as LL, it doesn't matter at all!

(although i make that 8 people by 12 months at £33K a monthly rent of about £345.... this strikes me as quite high for sharing in a house for 8 in a dodgy area. i'm sure there are cheaper/better options out there for the money!)

MTW_2

Not really focusing on it and don't particulary want to go into the reasons why but I see these people as sharks who provide as little as poss for as much as they can get. My opinion is not going to affect the outcome so que sera sera.

Next year is sorted already BTW

Still awaiting the next move.

MarzipanFish

MTW wrote: »

Not really focusing on it and don't particulary want to go into the reasons why but I see these people as sharks who provide as little as poss for as much as they can get. My opinion is not going to affect the outcome so que sera sera.

Next year is sorted already BTW

Still awaiting the next move.

I've had 3 very nice landlords in Sheffield who've all been very good about sorting problems out. The current one owns several student houses and whenever anything goes wrong he's round within about an hour to check it out & then the relevant person to fix it is round the next day if he can't do it himself.

Unfortunately with an 8+ bedroom house there's not many about so the landlords/agencies can get away with more crap than they'd be able to if it was a smaller place with more competition. They'll charge more rent for each room too despite the obvious disadvantages of less shared space. if £345 is correct then that's well above average.

I have to say though, I feel very suspicious at the number of breakins. I've never heard of anyone having that many in Sheffield even in their whole time here nevermind in 7 months(?). What area is it in?
I've lived in Crookes, Crookesmoore and Upperthorpe and never (touch wood) had a break in at all.

MTW_2

Update:

The owner has agreed to accept 50% of the rent for the remaining period so that is a result of sorts and obviously far better than rolling over and paying the full amount. This is inclusive of the deposit that I paid so we have to find a further £450 which hurts a bit but is do-able.

Marzipanfish the House is in S10 just off West Street close to the ring road.

We discussed all aspects with the agent in without getting agitiated and carried out our exchanges in a civilised way. To be honest I think MBA have behaved pretty well and I suppose it goes to show what can be achieved by reasonable negotiation.

Thanks to all for the help and avice on this one.