How do you cope with tenants or lodgers?

bobwilson

diggingdude wrote: »

Sounds to me like you need to get out of this profession as your attitude stinks.

You're right! My attitude of expecting fellow human beings to clean up after themselves or pay their own bills, stinks. I'm must get out of this profession that I earn nothing from.

[Deleted User]

bobwilson wrote: »

What do you mean by "make savings" exactly?

Seriously? If the going rate is £X and your business costs are £Y, and £Y is greater than £X, you need to find ways of reducing £Y until it is less than £X in order to make a profit. One might call it "money saving."

grumiofoundation

No-one is making you do this - if you cant make money running a business (yes being a landlord is a business) then don't run said business.

Why should a tenant be grateful to you because you cant run a business? They are paying you thousands of pounds per year. I am not grateful to GWR for allowing be to use their trains every morning.

bobwilson

Lover_of_Lycra wrote: »

Seriously? If the going rate is £X and your business costs are £Y, and £Y is greater than £X, you need to find ways of reducing £Y until it is less than £X in order to make a profit. One might call it "money saving."

Thank you for that insight. I might refer you back to the the original post, which I think makes it clear that reducing £Y would be impossible given the attitude of tenants.

grumiofoundation

steampowered wrote: »

Nonsense. You didn't just wake up one morning and find out that, by some stroke of luck, you were a landlord.

Maybe you misinterpreted the OPs post

bobwilson wrote: »

I recently have become an unwitting landlord.

looking up the definition of unwitting
adjective
1.(of a person) not aware of the full facts
2. not done on purpose; unintentional.

Multiple choice anyone?

[Deleted User]

bobwilson wrote: »

Thank you for that insight. I might refer you back to the the original post, which I think makes it clear that reducing £Y would be impossible given the attitude of tenants.

It's not impossible due to the attitude of the tenants. If your rooms are not worth what you would need to charge in order to turn a profit then your business is not viable, it is really that simple.

bobwilson

Lover_of_Lycra wrote: »

It's not impossible due to the attitude of the tenants. If your rooms are not worth what you would need to charge in order to turn a profit then your business is not viable, it is really that simple.

I think the price would be are worth it if tenants cleaned up after themselves & didn't use gas to heat the outside world or the home electricity to power north korea's eastern sea army.

steampowered

bobwilson wrote: »

Perhaps you should re-read my question. How do you think it's possible anyone would want to pay for you to live? He isn't your parent. Lets say mortgage interest + bills = 750. You have a tenant only willing to pay 550. That's a shortfall of 200. Note this is a random example and the figures aren't absolute, they're relative.

It isn't your tenants' fault that your business model sucks.

You might as well buy shares in a loss-making company and complain about not turning a profit.

If your lettings business isn't viable, sell up and do something else with your capital.

TheGardener

interchangeable post for anyone with teen+ kids. I feel for you bobwilson.
I became a parent by choice so I signed up for the ungrateful, non-cleaning stuff, empty your car of petrol then look stunned when you ask them to re-fill it type stuff....
I'll be honest - I do agree it sounds like you are in the wrong line of business. Give the tenants their marching orders and either sell and downsize to a property you can afford on your own or just find the least worst price to charge.

Wanderingpomm

Moneysaving222 wrote: »

HMO has to have clean communal areas afaik. We have one once a week.

HMO has to have bills included unless you have separate meters which is impossible for communal water etc.

Rubbish

It is perfectly acceptable to have a HMO where they split the bills between themselves.
They also do not have to have a cleaner. It just makes it easier