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Renting my house to buy a flat?
Comments
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I`ve done a little research into HMO`s and thought that the serious regulations kicked in when a property has over 4 tenants or 3 floors? I`m assuming I will have 4 students over 2 floors.
You'll need to check with your local council as some have introduced additional licensing criteria for HMO.I should have an agent from a student letting agency looking at it this week, so we`ll see if it puts me off ;-) I would be going for the "Full service" from an agent so I`m assuming my responsibilities will be limited once the place is let?
:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:
No, using a letting agency does not limit your responsibilities as a LL. As the LL the buck always stops with you. If you leave the protecting of the deposit up to the LA and they don't protect it in time or issue the PI correctly, it's you who will get sued. If the LA doesn't arrange the gas safety certificate, it's you HSE would come after.0 -
Ps we bought a property in 2010 and spent thousands of pounds refurbishing the property over an 8 week period to get it ready for September. Managed to find 4 student all on single contracts who looked after this New house which was very well kitted and have had no problem getting student tenants ever since due to location and top spec of property.
You want a joint and several tenancy agreement but will not get that if the student tenants do not know each other.0 -
Huge Thanks to Pixie 5740 for pointing out that the buck stops with YOU and not the agents who could run off with all the deposits and thousands of ££££££ in rent which has happened in the past.
I wonder if the new meeting /estate agent redress scheme covers for this ?
Students will more than likely live in halls first year so showing a small pokey single room with stains on the mattress will not get you tenants.
High speed broadband, wall mounted TV, A rated boiler, good insulation, double glazing and good security etc0
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