Should I let for 2 months?

Pixie5740

Raymond_Douglas wrote: »

Thanks Teeni!

Are there many tenants who know this and take advantage of the legal weakness?

Is the legal situation quite different with holiday letting?

As opposed to how many landlords who know this and try to take advantage of tenants not knowing their rights?

If you're concerned about the property being left empty for 2 months then look at getting a property guardian if you don't want to have a holiday let.

Letting agency charge all kinds of referencing fees to tenants so as a tenant I wouldn't want to pay out hundreds of pounds only to have to do it again 2 months down the line.

Your idea isn't mad as such but it does make you come across as a greedy grasper.

teeni

It may just work out but are you prepared for

1) the tenant not to leave and to have to issue court proceedings to get the property back in 8 months rather than 2.
2) The tenant would have to pay agency costs and credit ref checks and a months rent in advance for 2 months why would any tenant want this expense.

Advertise as a holiday let and you wont have such issues to consider

Raymond_Douglas

^^@Pixie

The intention is to make some money by offering something in a completely honest and upfront way to a willing taker who would benefit from the deal. I thought that was the general idea of being a good landlord.

If there are no takers that's fair enough; as I've said above I don't see much harm in trying, with the existing agency rather than a new agency for the new territory of holiday lets.

I appreciate all the recommendations of holiday lets, though,and will consider the option.

Raymond_Douglas

^^Thanks again Teeni,

I take the point about the risk. I'm trying to get a sense of whether we're talking about quite a far-fetched worst-case scenario or a substantial possibility.

haras_nosirrah

That is fine as long as you find an honest tenant who will move out after 2 months

You may get a professional tenant who knows that you cannot kicky them out for 6 months who will hold on until the bailiffs come calling around 10 months after moving in.

You may get someone who trashes the house

Is it worth it for just 2 months?

lovinituk

My guess is it will sit on the agencies books with no interest for 2 months. Come back and update us in the future.

Raymond_Douglas

Are there no risks of house trashers, tenants not leaving etc.with holiday lets?

All of this advice is very valuable and much appreciated.

Pixie5740

If it's a holiday let, they aren't tenants and therefore don't have tenants' rights.

G_M

Do not do this unless you are willing and able to have the property occupied for 6 (more sensibly 8) months. Yes - there are tenants who know the law, and there are also (many) tenants who start out only wanting 2 months, but whose circumstances change and find themselves with no option but to stay longer.

If your timing is flexible, go for it. You may well get a tenant, and rent, for two months and then vacant possession. But you must anticpate and accept the distinct possibility that you may not get access for longer than that.

As for the economics, I do wonder if the rent you'll receive is really worth the hassle. Yes, you'll cover your agency fees, but only by a bit, and with any tenancy there are risks and potential extra costs, let alone with this one.

Tenants too, as has been suggested, will be few and far between who want such a short contract, or who will be willing to pay the agency fees to obtain it (what does your agency charge tenants? You do know I assume....?)

I also would not go down the holiday let route for such a short period. There are all sorts of extra costs and arrangements which may be worth it in the long term, but not for 2 months. And by the time the property is set up and ready there will only be a fortnight left of your 2 months!

teeni

Raymond_Douglas wrote: »

^^Thanks again Teeni,

I take the point about the risk. I'm trying to get a sense of whether we're talking about quite a far-fetched worst-case scenario or a substantial possibility.

the fact is if your tenant is the one that has sort advice from someone like me, or knows the rules you wont get you house back is that worth the risk, only you know how desperately you need to get it back in 2 months . good luck with what ever you decide