How many Land Lords are really legit ?

Prothet_of_Doom

A guy at work advertised a house for rent. This lad lives with parents, and I counted him as a (work) friend

so I emailed him this link :

https://forums.moneysavingexpert.com/discussion/4908835

and added :
When I look back at how (name of a landlord and employee) managed the rental of that house I shared , she put herself in so much risk. No gas Safety Cert, neverasked the lender, didn’t tell her insurance company, deposit went straight intoher account, Never paid tax on the profit, dodgy eviction of “The Italian” etc.
I assume because you are more sensible : You are protecting depositscorrectly, there is a gas safety certificate, you have got permission from yourmortgage company, got insurance applicable to being a landlord, knowwhat an S21 and an S8 are ? know how to evict a tenant legally,who refuses to leave? Are declaring profit to the HMRC?

Why did I do this ? Well I'm a !!!!!, who should keep my nose out of it, but if he's a friend you might point out some risks.

He's gone all moody and angry now, probably because he's realised how much of a risk he's taking.

So more generally, how many land lords are actually legit, and really know the rules and the risks ?

BitterAndTwisted

I would say that the overwhelming majority of landlords are carrying out their businesses legitimately.

If you really did send that email I'm not really surprised that he's gone "all moody and angry" with you. I wouldn't welcome a lecture from a busybody either when I didn't ask for their "advice".

Road_Hog

Most on here seem to know that you need a yearly gas check, deposit protected and LL insurance. The mortgage side maybe a little more of a grey area.


If you let through an agency, some of those things are taken care of automatically. The agencies I use, all arrange the gas check and take care of the deposit protection.

tumbledowngirl

My husband and I are 100% legit landlords.
We do everything possible to carry out our responsibilities as landlords, and make a big effort to read up on landlord and tenant law etc.

Yes, we are relatively inexperienced, having only been landlords for a few years, but we use a letting agent in the hope of being able to ask for advice on any areas we are unfamiliar with, as well as asking for help on forums from more experienced landlords.

Prothet_of_Doom

BitterAndTwisted wrote: »

I would say that the overwhelming majority of landlords are carrying out their businesses legitimately.

If you really did send that email I'm not really surprised that he's gone "all moody and angry" with you. I wouldn't welcome a lecture from a busybody either when I didn't ask for their "advice".

I knew that me patronising him could go one of 2 ways, and it clearly touched a nerve that is raw. (IMHO) :rotfl:

My view is that where you wrote "are carrying out", the truth might be more "think they carry out"

Jenniefour

OP, I cringed when I read your post - don't bet on your email having touched a nerve about his duties as a landlord. What you did was cause a massive relationship disruption and that's much more likely to be the explanation for his anger. Learn the difference between being respectful and taking care of friendly colleague relationships, and taking potentially damaging action based on nothing more than a fantasy.

Flashmanchop

Could have been taken two ways, clearly touched a nerve.

maybe a word to figure out his concept of it first may have helped.

I carry out everything legitimately - having had numerous issues in the past with tenancies etc. I have always had CP12 and the proper insurances. prison and huge fines don't really appeal to me - simple as that.

doing it properly the costs are minimal, the cp12 is £35 per property, and the insurance (subject to claims) is almost the same cost as a normal property.

the biggest issue is dealing with rent, and managing the tenant, and what you expect of you, and what they expect of you.

G_M

There are 3 types of landlords:

* 'Legit' - by far the highest %, though I hav no figures

* 'ignorant' - amateurs who are owner-occupiers who are letting their own homes temporarily for some reason. They tend to mean well, often miss things, rely heavily on agents who themselves may/may not be 'legit', but tend to correct things when it's pointed out (eg no gas certificate cos they did not know. Tenant writes and asks for one, so they get one done)

* 'Rackman' types. Rip-off business people who make money by providing sub-standard housing etc - fortunately much much rarer than in the days of the acual Rackman.

Personally I think weeding out the non-legit agents is far more important.

BitterAndTwisted

Why would someone want to behave like such a smart-@rse about someone's private business that has nothing to do with them, their colleague or their work? I don't get it.

jc808

very patronising imo

starfish_chimp

I think Rachmanism is alive and well but in a different form perhaps (executed through the courts and financial clout rather than hardmen at the scene).