First 6 months of being a landlord (via a LA)

domcastro

Well, it's been a lot easier than I thought. Just updating people who helped 6 months ago and for people considering it.

1. Had first panic when my local agents got taken over by Countrywide but nothing seems to have changed and still paying 10% for full management

2. 2 checks have been done on the property

3. I had to replace the shower but I knew that I would have needed to replace it this year even still living there on my own. Cost 100 for shower, 120 for plumber (I probably could have got this cheaper) All organised by agent.

4. Possibly the tenants have got a dog but I decided not to chase this up as I had 2 dogs and there are no carpets downstairs.

5. A pull cord switch has been broken and I think I will be paying for an electrician to have a look at it (haven't had update yet)

6. The LA had to send the plumber back round as the tenants said the shower had been fitted to the hot water pipe. It turned out that it was coincidence that when they used the shower the first time the boiler fired up (lol hope I don't get charged for that!)

Pretty peaceful and seemingly the house is in good condition still and rent has been paid on time.

Hopefully it stays this quiet

G_M

Very please it is going well for you. These all sound like routine stuff and normal minor expenses.

Hope it continues for you!

For other posters starting out on this journey, take a read of this post for some hints....

whalster

So why use the agent ? it would have run equaly well without one it seems and I would bet the plumber didn't get all that money
They are just taking bread out of your childrens mouths !

G_M

whalster wrote: »

So why use the agent ? it would have run equaly well without one it seems and I would bet the plumber didn't get all that money
They are just taking bread out of your childrens mouths !

This is a valid point, but many LLs, especially new ones, like the security of having someonewith experience on their side (yes, yes, I know! Many agents have as little knowledge as new LLs, but if the OP has found a good one....)

Additionally many LLs like to have a 'buffer' between themselves and the tenants, and/or someone else to field those irritating phone calss ("the light bulb has gone. Please come and replace it!")

It's individual choice.

whalster

Fair enough I supose , I use 24 hour PA that fields my calls and uses my tradesmen to fix stuff but GM is right there are people out there like that , the only property I manage is one for a friend he wants nothing to do with it and insists I take the 10% bit awkward that but he in the past had the property empty for 8 months and never missed the rent going into his account , in fairness the agent had told him but there was no communication back so was left empty

angelsmomma

Hi, mine is going well too but I decided to self manage after advice on here. I was a complete newbie landlord but researched on here for months before setting up.

I had a few blips in the first few months due mainly to builders and joiners messing up. I also had a bit of criminal damage to property from tenants daughters boyfriend but his parents paid up for new windows so no insurance claim required.

Rent paid on time since August last year on one and March this year on the other.

A few repairs but both were in really good condition at the start of tenancy.

Couldn't have done it so well without you all here especially G_M so thanks again.

Londonswan

Well worth joining the NLA (national landlords association) they have some great courses and legal helpline. Once You have gained the knowledge with their help, you can decide if you want to sack the agent and keep the money.

bikingbarney

Just to put another slant on it........

Ive been renting my house since august and have had two lots of tenants.

1st lot didnt pay rent on time, guarantor had to pay for 2 months as they didnt respond to the LA chasing payments.
when they left the house we found damage to doors, pen marks from their child writing all up the wall etc.

2nd tenant has been in since march and has not paid the rent on time since the 1st month. this months rent was 3 weeks late and some of the excuses are laughable !!

motherofstudents

Just shows it can go either way. We have had more problems with the LA than the tenant who seems fine.