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

franklee

bikingbarney wrote: »

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.

Well I do believe you but you'd be surprised how many tenants come on here having been given notice after being told the exact same thing. Indeed I've had to move in the past as the landlord wished to sell, and the clue was there, it was for sale just before I signed up. Do you think it may sell before it lets? Only the rental market usually moves quickly so if it's priced right it should let within days or if not a week or two.

moesasji

bikingbarney wrote: »

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.

Yes, but many tenants simply look whether a property is up for sale (extremely easy to do nowadays). If the answer is yes then many do not want to rent it for obvious reasons:

1) The fact that the property is up for sale indicates (in most cases) that the landlord is not in it for the long run making it unlikely that you can live there for a long time. Keep in mind that moving is expensive (agency fees, overlap of rentals, moving, reconnecting landlines, internet, etc)...for a family that easily adds up to £1500 or more....so if you are looking again at movin again in 6 months or a year it is pretty expensive!

2) An "accidental" landlord that has lived in the property is most likely is too attached to the property and doesn't treat it as a proper business. Moreover he/she is extremely likely to be unaware of the legal requirements. I would not be too surprised if most of this category keeps up the for sale board and expects the tenants to do viewings.

So if you really want to go for the rental option it is in my opinion better to not advertise it as for sale.

bikingbarney

its been on the market for over a month now with only one viewing (for sale that is) and no offers.

It was my wife's idea to put it on the market for sale in the first place as she wanted to cut all ties with the house, but as she has seen the sale market is very slow so she has just about come round to the idea of renting it out whilst im still serving in the military (got another 9 years to do for my full 22year engagement).

I explained to the potentail tenants that i am taking it off the market as soon as i can get tenants in and that it wont be going up for sale again for at least 7 or 8 years as i cant see the market improving that much before then !

p_joker

our last land lords were "accidental landlords" and I would never go there again! no offence but if you do rent out your house please do a back ground check of all the things you need to do for e.g putting the deposit in a registered deposit scheme

G_M

This is just par for the course. You've never gone into a clothes shop, tried on a suit or whatever, told the assistant you like it and will think about it.....?

It's called window shopping.

And don't get me started on tradesmen: electricians who make apptmts they don't keep; plumbers who come and look but never send in the quote.....

You're running a business.
Expect 2 or 3 out of 5 prospective tenants to be 'no shows'.
Expect 2 or 3 out of 5 who view and 'like it' to never be heard from again.

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

Read this.

westv

And sometimes the more the viewers gush about how wonderful a place is the less likely they are to end up putting in an offer.

PasturesNew

bikingbarney wrote: »

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.

You bought it in 2007 for £128k.
Zoopla suggests your area's dropped in price and that'd now be £114k.
Your neighbour, with a garage, sold in January for £117k.
Yours is on at £140k.

It could be some time before you get the price you want.

Eton_Rifle

Since it was the paperwork stage at which they baulked, I imagine there's also a chance that there was something dodgy in their credit history or another undesirable factor that would be brought to light in their application.

In any case, I deliberately put my properties up for rental midweek so that they're off the market by the weekend to curtail tourism!

colli

bikingbarney wrote: »

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.

Sorry but if I was told that as a potentil tenant I'd take it with a huge pinch of salt. Heard it before and been asked to move 3 times in 4 years due to landlords selling (or trying to). Bad enough if you're just talking about "digs" but could be awful if you consider the place a famly home.

Maybe your potential tenants spoke to someone like me who warned them to steer clear and got cold feet?

t0rt0ise

Yes there's a certain amount of ambiguity about your claims, or so I'd think if I were a potential tenant. If you're planning on renting for 8 years or so, why the For Sale notice? It doesn't add up and would have me running.