How many Land Lords are really legit ?

Mr_F_Dorsetty

Prothet_of_Doom wrote: »

I've read all the posts, and it's clear that my procrastination was a good thing. It would seem that whilst you can be very cautious in who you rent to, and do everything by the book, it can still be very stressful.

I suppose it is in some way human nature to remember the bad bits, but to be fair no matter how hard I try, I cannot remember any good bits being a LL. The only thing it might be useful for is losing profits before tax on your other business interests!

A local business acquaintance of mine at the time when I was a LL also thought he'd give it a go. So he bought a house in the next village in auction and did it up to an acceptable standard with new kitchen, bathroom and central heating. Then he rented it out to a private individual with a wife and kids.

He got one months rent as deposit and one months rent.

The 2nd months rent didn't materialise so he went to see the tenant and find out why. When he arrived it was obvious the house was empty - truly empty, as they had sold or taken everything - kitchen, bathroom, central heating, room doors, electric cable out of the walls, plug sockets etc etc ... gone.

When he told me what had happened I admit I had to laugh, it was just so ridiculous :rotfl:

Yes, the police found them. Yes the tenant got prison time for theft/criminal damage. Yes, the man claimed against his insurance. Yes he repaired it.

Then he sold it and swore he'd never rent a house out again - because really, who needs that level of aggravation?

My advice to anyone is - don't do it. Buy the houses, do them up and sell them on, sure, but renting? No thank you very much.

Prothet_of_Doom

He apologised this morning, and went out of his way to explain that he has all in place, and that he has piggy backed on his parent's rental of 5 other houses. I appologised back, and said I probably shouldn't have emailed the link and just asked him directly as none verbal misunderstandings occur too easily. He mentioned a male form of PMT, that he suffers from and laughed. Ho hum.

Road_Hog

Carl31 wrote: »

There are others that want 'people to buy them a house' - are they legit landlords? they leave management up to an agent, and do not have contact with their customers.

What's wrong with that? I would like an easy life, as I imagine most people would. Nobody is forced to rent one of my properties and please blame successive governments for not building more council houses and allowing mass unfettered immigration.


Private landlords provide a service which the government can't be bothered to do. You'd soon be moaning if you couldn't find anywhere to rent and the council put you in a crappy B&B.


And why shouldn't a LL leave the management up to a LA? If you're working and perhaps not local to the rental property, you need someone who knows what he is doing and make arrangements to get workmen in to fix anything and arrange the annual gas check.


Quite frankly I do not want to have contact with my tenants, in the same way they probably do not want me coming round the house to check up. It's a two way street.

David_e

Prothet_of_Doom wrote: »

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

I am really legit, unlike some tenants who:

• don't look after the property,
• do a moonlight flit (no forwarding address) when the rent is due,
• claim housing benefit and don't pay it over,
• use the property as a base for criminal activities,
• run up huge utility (and catalogue) bills and then disappear.

I could go on but we know it's all the fault of landlords. Thankfully most tenants are reasonable.

If anyone thinks it's easy money, I suggest that they try it.

Pixie5740

David_e wrote: »

I am really legit, unlike some tenants who:

• don't look after the property,
• do a moonlight flit (no forwarding address) when the rent is due,
• claim housing benefit and don't pay it over,
• use the property as a base for criminal activities,
• run up huge utility (and catalogue) bills and then disappear.

I could go on but we know it's all the fault of landlords. Thankfully most tenants are reasonable.

If anyone thinks it's easy money, I suggest that they try it.

If only all the shady landlords could be paired up with the tenants from hell.

clark24

Pixie5740 wrote: »

If only all the shady landlords could be paired up with the tenants from hell.

I wish that my previous (horrendous nightmare) landlord could be paired up with the previous (scummy, prison dodging) tenants of the house I currently rent, that would be truly poetic justice. There should be a special type of hell for people like them!