PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Considering renting my 1 bed flat to local council

2

Comments

  • mn2203
    mn2203 Posts: 48 Forumite
    First Anniversary First Post Combo Breaker
    mugatool wrote: »
    To me that sounds like she was evicted from a previous property if she is in temporary accommodation. Of course you can be evicted for a variety of things, not just the non payment of rent.

    You could interview her and find out a bit more info. Are you in the SE, if the council can't pay all of the HB will she be able to cover the rest adequately.

    Well, the previous property was her parents. I will meet any tenant before they move in and will have a say on who lives there, which would be good.

    Certainly a great question to ask what if her circumstances change - thanks :-)
  • theartfullodger
    theartfullodger Posts: 14,588 Forumite
    Name Dropper First Anniversary First Post
    Done any education on being a landlord? Your posts indicate absolutely not.

    Do RLA or NLA intro course: It will serve you way way more in both time & money than it costs.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    She got evicted from her parents house because a) this was the only way that the council would take responsibility for housing her or b) her parents couldn't stand her antisocial behaviour and the drug dealers turning up at all hours.

    Which one do you think it is likely to be?
  • jimbog
    jimbog Posts: 2,113 Forumite
    First Anniversary Name Dropper First Post
    This has been discussed before:
    http://forums.moneysavingexpert.com/showthread.php?t=5783403
    Gather ye rosebuds while ye may
  • G_M
    G_M Posts: 51,977 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    mn2203 wrote: »
    Yes the mortgage company and freeholder have agreed to this.
    You have not made it clear if you will be

    1) renting to the council (who then put her in the property), or

    2) renting to the single mother (who was introduced to you by the ccouncil)

    this is important.

    If 1) above is true, you are creating a commercial tenancy. It is unlikey your mortgage lender has agreed to this type of tenancy. Please confirm.

    If 2) above is true, you are creating aan AST, but have all the insecurity or renting to a tenat who has no salary and may not be abe to pay the rent.

    edit: and yes, why are you repeating the question you asked before? You had lots of advice back in January!
  • mn2203
    mn2203 Posts: 48 Forumite
    First Anniversary First Post Combo Breaker
    G_M wrote: »
    You have not made it clear if you will be

    1) renting to the council (who then put her in the property), or

    2) renting to the single mother (who was introduced to you by the ccouncil)

    this is important.

    If 1) above is true, you are creating a commercial tenancy. It is unlikey your mortgage lender has agreed to this type of tenancy. Please confirm.

    If 2) above is true, you are creating aan AST, but have all the insecurity or renting to a tenat who has no salary and may not be abe to pay the rent.

    edit: and yes, why are you repeating the question you asked before? You had lots of advice back in January!

    Thank you, I am considering both options above.

    And I have never asked this question before so was not given any advice in January! But I will go and read that thread posted above, thank you
  • Owain_Moneysaver
    Owain_Moneysaver Posts: 11,357 Forumite
    First Anniversary Name Dropper First Post
    mn2203 wrote: »
    The council would like to move in a single mum, early 20s with a young child ... this could be a long term thing

    It won't be a long term thing. As a mother with one child she'll be a priority candidate for a two-bedroom as soon as it becomes available (or as soon as she gets pregnant again).
    A kind word lasts a minute, a skelped erse is sair for a day.
  • Owain_Moneysaver
    Owain_Moneysaver Posts: 11,357 Forumite
    First Anniversary Name Dropper First Post
    mn2203 wrote: »
    Well, the previous property was her parents.

    Then if they're homeowners with a good credit rating (which you will check) you can get them to sign a parental guarantee drawn up by a solicitor making them jointly and severally liable with the tenant.
    A kind word lasts a minute, a skelped erse is sair for a day.
  • Smodlet
    Smodlet Posts: 6,976 Forumite
    Name Dropper First Anniversary First Post
    G_M wrote: »
    edit: and yes, why are you repeating the question you asked before? You had lots of advice back in January!

    Actually, G_M, AubreyMac received advice back in January; though the OP's questions may be answered on that thread, most start their own, I think (guilty, m'lud)

    "I didn't jump to conclusions; I just took a tiny step and there conclusions were." Buffy Summers. :cool:
  • AlexMac
    AlexMac Posts: 2,983 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    edited 11 April 2018 at 3:47PM
    I've let a 2-bed ex-LA flat on a long-term basis to a Housing Association for several years now, and it's been very satisfactory. A little under market rent, but money-saving as the Social Landlord covers management, repairs, gas safety checks, setting up ASTs, etc. So there are no lettings fees nor gaps in rent void periods, and I have virtually no involvement (apart from one glitch when the HA defaulted on repairs and the tenant went to the Environmental Health Officer who came after me and the HA! But soon sorted).

    Quite a demanding initial specification (gas and electrical safety, new boiler, hard wired smoke and heat detectors, extractor fan, carpeting, and bizarrely, net curtains!...) but thereafter all maintenance is the Association's problem. And although no lender is involved, I did have to get the Council as freeholder to approve the deal, even though the HA is sub-letting it to people on their homeless register!

    Just make sure you're clear about who is responsible for what. My contract with the HA means they covers all repairs and replacements but not betterment or wear and tear. So I assume when I eventually take it back that the decor, kitchen, bathroom and flooring will be trashed and that a £10-20k refurb will be required before I re-let myself or sell on.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards