deletedeletedelete

fairy_lights

vera163 wrote: »

and... you expect me to consider every single eventuality as if i was an experienced landlord with more than 1 property? give me a few months or years

I don't really understand your argument here, you have one property so why is it so difficult to research how to let it safely and legally?

AdrianC

vera163 wrote: »

and... you expect me to consider every single eventuality...

Yep.

If you don't understand a business, don't get into it.

Look, it's very simple. You know that there are minimum room size requirements coming in. You know you have a room smaller than that minimum. You know your HMO is short on sanitary facilities.

And yet you are STILL considering renting this room out, rather than taking the solution that is staring you in the face?

That's not inexperience. That's deliberate, wilful, prioritisation of income over conditions.

marksoton

vera163 wrote: »

matters like this giving rise to "inconveniences" here and there (like having an extra toilet or room size) fall outside of my legal compliance thinking mode. i'm sorry i'm not an empathetic buddhist zen but i do aspire to be

Jesus wept.

I feel very,very sorry for your tenants.

Guest101

vera163 wrote: »

i try to ensure every legal obligation is fulfilled (e.g. deposit protection, fire risk assessment, EPC, FENSA/electrical certificates) etc etc. matters like this giving rise to "inconveniences" here and there (like having an extra toilet or room size) fall outside of my legal compliance thinking mode. i'm sorry i'm not an empathetic buddhist zen but i do aspire to be

Like I said - fail to ensure that these 'inconveniences' are rectified and you'll face an expensive lesson (and in some aspects a stay at her majesty's pleasure)

MockTurtle

Room size is NOT an "inconvenience" it's a legal requirement.If you are happy to disregard the law on this, we can be forgiven for thinking that you are happy to disregard the law on other requirements, too.And YES! You ARE expected to think of every possible eventuality. Because not doing so could see you breaking the law. "I didn't know.." is not going to help you at that point. You are expected to educate yourself and know your responsibilities (there are a lot of them!). Ignorance is no defence.
Look, you’re young. And you’ve been fortunate enough to inherit a house at a very young age. And you’re now looking to generate an income from that house. Fair enough. But you MUST do this right. Renovate it to a standard that YOU would be happy to live in. Don’t expect tenants to want to live in a slum you’ve cobbled together.

In your other thread you say you can’t afford to fit a bathroom as you don’t have the money – that is a worry. What if the boiler breaks down two weeks into the tenancy? Will you have the money to fix it? You need a contingency fund of money for situations like that. Being a Landlord is sometimes a very expensive business!

Register with one of the Landlord Associations (I’m with NLA and membership gives you discounts at B&Q and on Landlord Insurance). Protect yourself, protect your inheritance, protect your tenants.

dekaspace

Interesting to read, I have seen rooms that the bed only fits one way but you could fit 2 single beds in and have about 1-3 feet at bottom and thought they were small but at least the rent was cheap, the only reason I never took room back then was it was £5 more for a ensuite room about 3x the size in same house, and other tenants had 2-4 times the size of that.

theartfullodger

Over here
http://www.landlordzone.co.uk/forums/showthread.php?76712-Panicking-over-minimum-room-size-requirement
"Vera" says....

i'm expanding the walls in said room so it complies

Bloody clever some of these landlords...

kunkj

theartfullodger wrote: »

Over here
http://www.landlordzone.co.uk/forums/showthread.php?76712-Panicking-over-minimum-room-size-requirement
"Vera" says....

"i'm expanding the walls in said room so it complies

Bloody clever some of these landlords...

:rotfl: :rotfl: :rotfl:

Also trying to AirBNB out this 4th 'bedroom' according to another thread on there haha! Have I missed something - why is OP desperate to squeeze every possibly drop of profit from their house? I feel like they have never even lived in rented accommodation and can't seem to fathom that when a tenant rents somewhere they have expectations that what they're living in is their home. Not some kind of cash cow that said landlord is frantically milking dry...If you're trying to take advantage of people you'll end up with exactly the kind of tenants you deserve.

For your reference vera163 I had to renovate a property to bring it up to HMO standards. The works cost 10% of the value of the property (eg £150000 property I spent £15000 sorting it out). I then spent 40% of my first years rental income on everything beyond the renovations - everything from furniture to unexpected maintenance. Since then ongoing costs (except tax) are approximately 20% of the annual rental income - and I actually think I have been very lucky with tenants so far (no evictions, no missed payments, no dodgy tenants, no damage beyond normal wear & tear). And I am always prepared to lose 40-50% of income to costs - anything less is a bonus. What I am trying to say is - be realistic about the return you can expect. Running a rental especially if its your only one is SUCH a huge learning curve, can be a complete pain in the !!!! and you will not make as much money as you first think.

And finally do you actually think you can find someone who will pay to rent a 6sqm room?!?!?! At the end of the day it doesn't matter what the Hmo regs say or what the surveyor says - if you cannot find someone who would be willing to live in the room its all moot. Depending on the size of the other rooms and what kind of tenants you're going for they may well find a study or storage room an appealing factor that would make them want to rent your 3 actual bedrooms. If you haven't already take a look at what your competition is in your local area.

[Deleted User]

I know renting rooms is a business, but something quite wrong with the OP's lack of understanding of human nature (and what makes a successful business), not just explained by youth.

And to me, doesn't write like a 20 year old.

Something doesn't seem quite right about the threads on here.

csgohan4

Aw looks like I missed this one

Op I hope you get everything you deserve