Rental timewasters...... whats the point!

bikingbarney

We realized we weren't going to sell our house at a price we would be happy to accept so decided to put it up for rent.

Within 2 days of being on the rental market we had a call from the EA to do a rental viewing.

The couple came round and said it was just what they were after and were getting really excited as they had been looking for a nice 3 bed for ages.

The next day we spoke to the EA who said that the family wanted it and where going to go down with the application the day after.

The next day the EA phoned about another viewing as this original couple had come (apparently he was busy but promised to go down the following day)

anyway original couple failed to go down s promised and now they aren't returning the EA calls so she is doing another viewing this afternoon.

Why do people bother? i mean if they change their minds why cant they just say that instead of stringing people along!!


argh rant over !!

BitterAndTwisted

Perhaps these prospective tenants got wind that you're an accidental landlord and declined to take the risk of entering into a contract with you? It still doesn't excuse their lack of manners but such is life. I expect that vendors encounter the same kind of behaviour from prospective buyers as well from time to time..

PasturesNew

They probably worked out they can't afford it, or have found others they prefer at the same price.

moesasji

It might simply be that the initial decision was made under pressure from the EA due to the oldest trick in the book.

Essentially you show up for the viewing....arranged such that you arrive when they show others around making you wait and then pressure you to hurry up as the next viewer will arrive shortly....saying that the first to say yes will get it. At that moment you feel pressured and might say you take it, but after a night of sleep you realize that you fell for the oldest trick in the book....and if the EA pulls this kind of tricks I'm really not inclined to get back to them to be honest. In particular because some of them treat you badly as prospective tenant.

Orpheo

The only reason I can think of is that they found a better property at a better price.

geoffky

I really hope you know what you are doing concerning your obligations towards the mass of laws that exist for letting...It really gets my back up when you have amateur landlords who do not even know about deposit protection ect ect..

dopester

There is a lot to consider when making a viewing, and even if viewers are polite or answer enthusiastically about becoming tenants, sometimes people need to go away and think about it.

You've not been able to sell your house for the price you wanted.

Now you've gone into business as a landlord, providing the rental price you're seeking is competitive, in the current market, it shouldn't be too long before you get tenants.

Tick tock.

You'll have to roll with it. Part of the business and similar in many other lines of business.

bikingbarney

thanks for the replies everyone.

in the town im in there is a shortage of decent 3 bedroom houses for rent, in fact for my price bracket £650 pcm there is only my house and a flat .

they actually told the ea the day after the viewing that they wanted it, they have been looking for quite a while as she is selling her own 2 bed house and is wanting to rent a 3 bed.

this is my house here..........
http://www.rightmove.co.uk/property-to-rent/property-33705128.html

there is this apartment..........
http://www.rightmove.co.uk/property-to-rent/property-29662417.html

and not a lot left due to everything being snapped up.

oh and ive done quite a bit of research into becoming a landlord already, but would love any tips they may help.

thanks

Steve

franklee

bikingbarney wrote: »

oh and ive done quite a bit of research into becoming a landlord already, but would love any tips they may help.

It's a smashing house and I assume you know the going rents but it's still up for sale which would put me right off as it says accidental landlord. I'd be worried about being asked to move on at the first sign of the house market improving. It can be expensive for a tenant to move, agent's fees (you do know what the agent charges tenants I presume as high fees can be outputting), removal fees, overlapping rent not to mention the stress and time involved. Frankly I'd choose selling or renting, not both

PS: Asking price 139,950 vs rent of 650pcm, a 5.5% yield before costs, not the worst I've seen proposed here.

bikingbarney

I have told the EA to let potential tenants know that if they take it up to rent then it will come straight off the market as i wouldn't want to mess people around.

finally i have also said that i will be letting it for a long time too.

The idea is to rent it out whilst im living in military married quarters for the next 8 or 9 years which gives me the chance to .

a, save some cash so ive got a nice lump sum when im looking to buy next

b, stay on the property ladder and continue to chip away at my mortgage in the hope that prices will rise over the next 8 or 9 years and i will have more equity in the property.

sp1987

They may have thought they would only be paying your mortgage on the property whilst you are unable to sell. I know I would be funny about knowingly going into a property if there was a whiff of that. I am sure you mean what you say but sadly you are saying the same as the people who do not mean it.

'I want to rent it for a long time' does invariably make me think 'I'm looking to sell it and would like you to keep paying me until I do'. I'd rather a LL said 'I'm looking to rent it to you for as long as you are decent and pay the rent' as it mirrors my 'I am happy to pay the rent and live decently as long as you are not a complete buffoon at which point I will leave'.