Help with timing for a possibly buy

Sarah1Mitty2

babyblade41 said:

The problem is that no matter how much a tenant is vetted , nothing can save you from a tenant that doesn't pay so a contingency fund is always advisable .

There must be legal means to deal with this?

Bluebell1000

Sarah1Mitty2 said:

babyblade41 said:

The problem is that no matter how much a tenant is vetted , nothing can save you from a tenant that doesn't pay so a contingency fund is always advisable .

There must be legal means to deal with this?

Yes, but whether the tenant then has any money to repay you is another matter! Assuming you can even find them... This happened to us once; someone with an excellent professional reference fully checked out, but was then fired from their job and didn't pay. We got a court order to evict. It wasn't worth the hassle of chasing them up after they left and we never saw any of the money, but at least we had the deposit and 1 months rent, and could relet once we'd repaired the damage. Having said that, this was a lower end of the market 1 bed flat.

Now we are renting out a 4 bed house, have a good choice of tenants, and our main issues have been with the letting agency we used (we now self manage).

hannahcolobus

Also remember that restrictions around EPC’s and your responsibilities as a landlord in this area are getting tighter. This is one of the reasons why so many landlords are now selling up, I’m starting to see a big influx of rentals on the market in my area. 

[Deleted User]

My Midwife tenant has been extremely annoying.

Rent paid late and sometimes incomplete.

Going forward, not just a professional tenant but one that passes the extensive screening. I have a feeling she moves from one house to the next. Likely has a CCJ.

hangryconsumer

diystarter7 said:

I do have the softer side and posts like yours is a good reminder., thanks again.

Bear this in mind when becoming a landlord. We were all tenants at one point in our lives, and the rental system in this country is completely unacceptable. It doesn't treat tenants like human beings, we're just to be milked for our labour value. What do YOU remember of being a tenant? Do you genuinely want to provide someone a "home" or just get as much money out of them as possible whilst also treating them badly? I understand you need to look after your investment, but ultimately any damage they do is cosmetic and as someone who can afford a BTL, you can afford to redecorate when they leave.

I was a tenant for 12 years, pretty much 50/50 Scotland/England. Scotland is better, but I was too young to appreciate it. English have brought in the law recently (forgot which one, was it deposits etc?) that Scotland had in place for years. During that time, landlords/agents broke the law multiple times, disrupted my right to quiet enjoyment of my home, gave out keys to workmen whenever they wanted without telling me, did constant inspections, moved things around etc. It made me feel utterly violated and disgusted. I am so glad that I no longer rent. I realise now, from reading this forum that tenants should immediately change the locks. This, unfortunately is expensive. Not all tenants can afford to change the locks.

I have also rented properties on the continent and not once was I ever bothered with stuff like that. Albeit for a shorter period of time, but ultimately I was left alone to live my life in peace. If it wasn't for Brexit I wouldn't be here anymore.

Even housing associations have better rules. You can decorate if you want, you don't have landlords bursting their eyeballs if you dare have holes in the wall from where you hung a picture to make it more homely. You won't allow them to hang a picture but...what if they accidentally spilled their cup of tea down the wall? What cost to the tenants for something they didn't intend?

That phrase in bold above. Do you want your children to feel that at the hands of their landlord or letting agent?

diystarter7

Zoe02 said:

My Midwife tenant has been extremely annoying.

Rent paid late and sometimes incomplete.

Going forward, not just a professional tenant but one that passes the extensive screening. I have a feeling she moves from one house to the next. Likely has a CCJ.

We seek background info why moved where last but a good reason why they moved, ie is job so what did you do and where, the bigger house needed whats changed. prepared questions etc.

If they have not savings etc I will seek a guarantor

diystarter7

hangryconsumer said:

diystarter7 said:

I do have the softer side and posts like yours is a good reminder., thanks again.

Bear this in mind when becoming a landlord. We were all tenants at one point in our lives, and the rental system in this country is completely unacceptable. It doesn't treat tenants like human beings, we're just to be milked for our labour value. What do YOU remember of being a tenant? Do you genuinely want to provide someone a "home" or just get as much money out of them as possible whilst also treating them badly? I understand you need to look after your investment, but ultimately any damage they do is cosmetic and as someone who can afford a BTL, you can afford to redecorate when they leave.

I was a tenant for 12 years, pretty much 50/50 Scotland/England. Scotland is better, but I was too young to appreciate it. English have brought in the law recently (forgot which one, was it deposits etc?) that Scotland had in place for years. During that time, landlords/agents broke the law multiple times, disrupted my right to quiet enjoyment of my home, gave out keys to workmen whenever they wanted without telling me, did constant inspections, moved things around etc. It made me feel utterly violated and disgusted. I am so glad that I no longer rent. I realise now, from reading this forum that tenants should immediately change the locks. This, unfortunately is expensive. Not all tenants can afford to change the locks.

I have also rented properties on the continent and not once was I ever bothered with stuff like that. Albeit for a shorter period of time, but ultimately I was left alone to live my life in peace. If it wasn't for Brexit I wouldn't be here anymore.

Even housing associations have better rules. You can decorate if you want, you don't have landlords bursting their eyeballs if you dare have holes in the wall from where you hung a picture to make it more homely. You won't allow them to hang a picture but...what if they accidentally spilled their cup of tea down the wall? What cost to the tenants for something they didn't intend?

That phrase in bold above. Do you want your children to feel that at the hands of their landlord or letting agent?

Thankfully we, ie me, my parents, family, and extended family have never ever rented. However, any T/family we take on, we will give them loads of respect and go beyond the law to look after them if they are decent people and not causing problems.

I am also aware of the laws which are all in the T's favour and me and my family are fearful of the law and would never want to give the T a chance to accuse us of wrongdoings and if they did it would  be malicious.

Some of the family on my side and also OH's side rent out and they treat T's with resct as do T's and they often stay for years but all use LA's as will we and once the T's been ther for at least 2 years trouble-free they let go of the LA but ensure they have legal and rent cover insurance.


I dont trsut anyone and may sound brutal but I do not trust my wife 100% when she is out but I do trust her with our money as we have joit accounts etc, that is just me beig honest.

If I feel someone is taking the p, i will never speak to them and if it is going to be the T, they will be out first chance I get.

Thanks and thank you for the detailed post,

grumiofoundation

diystarter7 said:

HRH_MUngo said:

I have had four tenants in my flat.

The worst one was the 'professional' - a social worker.

She let about five other people live in the flat and in the few months she was there, caused damage.

Even the tenant who ended up going to prison kept the flat immaculate.

Nothing will protect you against bad tenants.

100% agree but onlu working professionals, married ones will do for me or those living as a couple and possibly one or two younger kids none smokers and no pets and that look nice and clean and drive a clean car that looks new is new or old but looked affter says a lot about them imo.

diystarter7 said:

Zoe02 said:

My Midwife tenant has been extremely annoying.

Rent paid late and sometimes incomplete.

Going forward, not just a professional tenant but one that passes the extensive screening. I have a feeling she moves from one house to the next. Likely has a CCJ.

We seek background info why moved where last but a good reason why they moved, ie is job so what did you do and where, the bigger house needed whats changed. prepared questions etc.

If they have not savings etc I will seek a guarantor

When we were renting as professional, married, and vaguely clean, tenants if a potential landlord had starting looking in our car, asking to see our marriage certificate and bank statements I might feel slightly irritated.

I would however have had no issue as long as you showed me your bank statements to prove to me you were financially secure enough to pay for repairs to your property and explained to me why you were becoming a landlord.  Obviously this is assuming you were clean enough.  

SavingPennies_2

Oh dear, so many thoughts but I can't be bothered to comment. 

user1977

diystarter7 said:

HRH_MUngo said:

I have had four tenants in my flat.

The worst one was the 'professional' - a social worker.

She let about five other people live in the flat and in the few months she was there, caused damage.

Even the tenant who ended up going to prison kept the flat immaculate.

Nothing will protect you against bad tenants.

100% agree but onlu working professionals, married ones will do for me or those living as a couple and possibly one or two younger kids none smokers and no pets and that look nice and clean and drive a clean car that looks new is new or old but looked affter says a lot about them imo.

Is this a wind-up? If they didn't have a car, what would you be judging them on?