2 bedroom flat- renting three rooms out seperately

sandsni

Maybe I'm being a bit dim, but how can a property be a flat AND a semi-detached house at the same time?

duchy

If your "friend" thinks those three scenarios would all attract the same rent they need to research their business plan a bit more throughly.

As for asking if the rent sounds OK -it would depend on what local rents are - and you've not said where this is so how on earth would people know if it is good or not ?

Have you costed insurances in, what about letting agency fees , do you know how the deposit would be secured etc?

Senior_Paper_Monitor

Any mortgage ? They have a considerable say in this !

bobbydavro

00ec25 wrote: »

he IS running a business so should see the £ signs. He is not running a welfare service for the disadvantaged

I had to laugh at this nice response!

bobbydavro

Badger_Lady wrote: »

Personally, if your figures are right and the flat really can achieve £850 as a whole, I would stick with Option 1. It's the easiest to manage, the most morally sound and is likely to attract the a more mature, stable tenant with whom your friend can enjoy a lucrative relationship.

In my case, I could only get around £550 a month for my whole house or I can get £750 by letting rooms to a mature single bloke and to a couple. If I could get £750 from one family unit, I would.

Thanks for your response, having giving it some thought option one is definitely the best option and most hassle free option which I have gathered is the most highest priority at the moment.

You make good common sense points and I can see that option 1 is the only really viable option at the moment.

Thanks again

best regards

bobbydavro

duchy wrote: »

If your "friend" thinks those three scenarios would all attract the same rent they need to research their business plan a bit more throughly.

As for asking if the rent sounds OK -it would depend on what local rents are - and you've not said where this is so how on earth would people know if it is good or not ?

Have you costed insurances in, what about letting agency fees , do you know how the deposit would be secured etc?

Hi,

thanks for your response, questions

1. the rent is priced right for the area, yes I know people do not have enough detail to form a100% correct opinion to give a response due to missing details

2. Letting agent would not be involved in this partic. matter as no need.

3. Yes the deposit would be safeguarded have had an instances before with a letting agent who faffed about and did not get the deposit secured.

Regards

bobbydavro

sandsni wrote: »

Maybe I'm being a bit dim, but how can a property be a flat AND a semi-detached house at the same time?

ground floor flat in a semi detached house.

no your are not dim I would ask the same q.

Thanks

bobbydavro

donfanatico wrote: »

you are pushing it a bit

This is England mate, anything goes!

bobbydavro

easilydistracted wrote: »

I don't think your maths make sense. I would be very unusual for the three situations you describe to result in the same rent per room. You'd also not retain long term tenants. If the flat has so much space that using the living room as a bedroom will not be horrible then the overall price would be more attractive. If you are that desperate would be better to rent to two couples.

Hi,

thanks for your response.

Renting to two couples seems like the a viable option as it still keeps a communal area and the bedrooms are big enough for two people.

As other posters have commented here this would lead me to think that it would have a high turnover rate and the tenants would not be long term. But it could make sense...somehow!

food for thought

many thanks you have raised some interesting points to think about in the future

kind regards

bobbydavro

BitterAndTwisted wrote: »

The third option would probably mean that it will have to confirm to HMO regulations. This will mean fire-doors, a hard-wired fire-alarm and other things depending on the local authority's criteria, often a hefty fee to have the license granted. I've heard of a £700 fee.

Wear and tear will be more, so carpeting and re-painting will have to be done more often to maintain that level of rent and keep it attractive, as well as much more heavy use of appliances, especially washing-machine, dish-washer etcetera.

Sharing a property with absolutely no common space will render it less attractive. Even house-sharers don't welcome having to eat in their bed-rooms.

When does a rented property, flatshare become deemed officially as an HMO.

I have heard this term only associated with student lodgings.

Many thanks