Renting out my home (pushed into being a LL)

monkeychild

Afternoon,

As I am in the forces, I have now been told I am to be posted hundreds of miles from the family home. We want to keep it, as ideally we want to come back to it at some point; so we will have to let it out.

The mortgage company have no problem with us renting it out and we will be using an agent to manage it as we will be too far away for this.

What are the main things, top tips etc that I need to know as a potential LL.

Cheers

Mr_Moo_2

This is a good read ......

http://forums.moneysavingexpert.com/showpost.php?p=41160642&postcount=12

monkeychild

Thanks for that

I'll have a good read of it all.

Smith_007

Renting out my home

When you rent it out, it is no longer your home.

In fact, once rented out, it is legally not your property.
http://www.landlordlawblog.co.uk/2010/08/31/urban-myth-when-a-landlord-lets-a-property-its-still-his/


I'm not being pedantic......
Simply put, many accidental landlords (like yourself) fail to realise this. They often have too strong an emotional attachment to the house they are renting out.

Also, don't forget you have an implied social responsibility to your tenants to whom you are providing a home. What happens if you want the house back and you find out your tenant is 7 months pregnant?
(I hope you don't kick them out like one b@st@rd did:eek:)

RAS

If the property is your only UK home, you can inform the tenant prior to them signing the contract using the correct notice. Provide that you meet all the other legal requirements (gas cert, deposit etc) this makes it (slightly) easier to get them out if they refuse to move when you ask them.

The state of their pregnancy or other life issues has no more bearing on your responsibilites and rights as a LL than the fact that you once lived in the house.

Make sure you get a proper inventory as well.

Kazzaroo

Smith_007 wrote: »

When you rent it out, it is no longer your home.

In fact, once rented out, it is legally not your property.
http://www.landlordlawblog.co.uk/2010/08/31/urban-myth-when-a-landlord-lets-a-property-its-still-his/


I'm not being pedantic......
Simply put, many accidental landlords (like yourself) fail to realise this. They often have too strong an emotional attachment to the house they are renting out.

Also, don't forget you have an implied social responsibility to your tenants to whom you are providing a home. What happens if you want the house back and you find out your tenant is 7 months pregnant?

(I hope you don't kick them out like one b@st@rd did:eek:)

You say that accidental landlords shouldnt have emotional attachment and see it as a legal agreement but then say they should make a moral judgement if when they want the house back (and do it legally) the T is expecting a child,it is either purely a business/legal agreement or there are emotional aspects,cant have it both ways!,

My advice is read up on the link provided earlier and if theres anymore information you need speak to an LA in your area (doesnt have to be the one you want to use)

sandsni

In the interests of common decency and hopefully preventing problems later, I would make it clear (and make sure any agent you employ does too) to any potential tenant that it definitely won't be an open-ended or long-term let. At least then they'll know not to take it if they want something they can view as their own "family home".

nathand_2

Smith_007 wrote: »

Also, don't forget you have an implied social responsibility to your tenants to whom you are providing a home. What happens if you want the house back and you find out your tenant is 7 months pregnant?
(I hope you don't kick them out like one b@st@rd did:eek:)

I disagree. It's a business arrangement.

Yorkie1

You've already had the link to the New LLs thread.

There's one for Choosing a LA, but I can't put my hands on its link at the moment - hopefully someone else has it to hand.

As someone has alluded to, if you serve a particular notice at the start of the tenancy saying that the house was your only home then it provides you with an additional ground under s.8 on which to base an application to regain possession of the property if required. Again, someone else will be able to point you in the right direction hopefully.

Smith_007

I disagree. It's a business arrangement.

Sir might find that ethics and common decency do come into business arrangements for many of us. Especially when providing our tenants with a home.:A

The example I gave (and have described previously) was a landlord promising a young family a long term let knowing the mother was pregnant and yet issuing a section 21 notice 4 months later. The landlord never had any intention of letting for more than 6 months.

Legal? Yes
Unethical? Very

At least be up front and honest with the tenants about your plans. (As sandsni says above)

nathand_2

Smith_007 wrote: »

Sir might find that ethics and common decency do come into business arrangements for many of us. Especially when providing our tenants with a home.:A

The example I gave (and have described previously) was a landlord promising a young family a long term let knowing the mother was pregnant and yet issuing a section 21 notice 4 months later. The landlord never had any intention of letting for more than 6 months.

Legal? Yes
Unethical? Very

At least be up front and honest with the tenants about your plans. (As sandsni says above)

I missed your point. In the case you described the landlord was dishonest which isn't a good way to conduct business.

An argument could be made though that the tenant wanting a longer term tenancy should have insisted on a 12 month contract rather than 6.