Title: Renting out a house Post by: Tractor on February 11, 2009, 04:26:31 PM Anyone on here rent out property?
I will be renting my house out soon and im undicided on wether to use an agent or not. Apparently you can get DIY contracts off the net. If i go down the route of doing this myself whats the best way to market the property? Basically, any advice much appreciated. Cheers Title: Re: Renting out a house Post by: TheChipPrince on February 11, 2009, 04:27:57 PM Tighty rents something i'm sure, he may be able to help...
Title: Re: Renting out a house Post by: jizzemm on February 11, 2009, 05:04:01 PM I have just started renting out my house...
I have used a Residential Letting Kit available from WHSmith for abotu £15 to draw up the contract etc. A friend of mine who rents out property told me that its not worth using an agent, unless u cant get the price that you want and an agent can get a better one, minus their commission. Also with agents, he advised me that if I was going to use one, to make sure that you dont have them looking after everything (i.e problems with the property, electric, heating etc) as they will basically have their own list of people and you will end up getting charged a fortune for stupid things.. i,e tenants cant change light bulb and the agents will call out an electrican for instance and u get charged for it.. I have personally have a seperate bank account for all my rent to be paid in (going in on time so far) and any bills for the house goes out of that account so its easier for tax purpose (if ur going to pay it).. Another suggestion (that I have taken up) was put to me, to use British Gas landlord cover for Gas & Electric (approx £29.00 per month) and they will give you all the cover for your heating and electric (should anything happen) for no extra fee. They will also do the yearly checks that you have to do on appliances as a landlord.. I'm still in early stages of my first rental but give me a PM if you need any other details.. Title: Re: Renting out a house Post by: byronkincaid on February 11, 2009, 05:30:22 PM good forum imo
http://boards.fool.co.uk/Messages.asp?mid=11434342&bid=50096 Title: Re: Renting out a house Post by: cia260895 on February 11, 2009, 08:25:27 PM I have personally have a seperate bank account for all my rent to be paid in (going in on time so far) and any bills for the house goes out of that account so its easier for tax purpose (if ur going to pay it).. Another suggestion (that I have taken up) was put to me, to use British Gas landlord cover for Gas & Electric (approx £29.00 per month) and they will give you all the cover for your heating and electric (should anything happen) for no extra fee. They will also do the yearly checks that you have to do on appliances as a landlord.. this FTW I use an agent as they guarantee rental income for 3 years although if you have a problem with the tenant it can be a pain in the ass, Title: Re: Renting out a house Post by: TheWhisper on February 11, 2009, 08:56:58 PM make sure that you dont have them looking after everything (i.e problems with the property, electric, heating etc) as they will basically have their own list of people and you will end up getting charged a fortune for stupid things.. i,e tenants cant change light bulb and the agents will call out an electrican for instance and u get charged for it.. I experienced this when I was a tenant, they sent out someone to repair the boiler and then someone else just to change the fuse. I was annoyed for the landlord, it was a total rip-off I am now in the situation of letting out my house and think I will look after the arrangements myself. Its not like they give you much support if you have an iffy tenant. Title: Re: Renting out a house Post by: Tractor on February 11, 2009, 09:24:55 PM Thanks for all the replies, im going to have a go at doing this myself.
Defo going to get the gas cover thingy and the DIY form from WH Smiths. Just going to work out how to advertise it and were off :) Well hopefully. Any other advice much appreciated. Title: Re: Renting out a house Post by: thetank on February 11, 2009, 11:23:27 PM Vet your tennants as carefully as you can, don't take the first set that apply.
It's a piece of piss game if your tennants are nice folks, and a pain in the arse back breaker is they're not and start slipping with the rent and treating your gaff like shit etc. Don't rent to young folk who have just moved out of the family home. Big time -EV. Title: Re: Renting out a house Post by: Rookie (Rodney) on February 11, 2009, 11:28:23 PM Don't rent to young folk who have just moved out of the family home. Big time -EV. GFY and your prejudice! Title: Re: Renting out a house Post by: thetank on February 11, 2009, 11:42:16 PM It is prejudice, I won't deny it.
Those sorts of lets carry a higher risk. Insurance companies get to charge that demographic more, but landlords will charge the same. It's not just the obvious party party thing, but a group of younger people together in their first flat are more likely to have personality clashes and stuff coz they're not used to living with people who aren't family and making allowances etc. One of them moves out and the ones that are left have a hard time paying the rent for a bit (especially as younger people will usually has a lower income.) Not saying all young people are shit lets, but it's a numbers game. Like a random Chinese bloke raises your flop bet in the first level of a comp and you need to decide what to do with TPTK. Is his nationality going to factor into your desicion? Title: Re: Renting out a house Post by: cia260895 on February 11, 2009, 11:50:58 PM also if you drive a Todd Carty of a car this will be marked as -EV as well
Title: Re: Renting out a house Post by: lazaroonie on February 12, 2009, 12:07:43 AM Vet your tennants as carefully as you can, don't take the first set that apply. It's a piece of piss game if your tennants are nice folks, and a pain in the arse back breaker is they're not and start slipping with the rent and treating your gaff like shit etc. Don't rent to young folk who have just moved out of the family home. Big time -EV. i rented many flats out to many tenants over many years and never had any problem collecting the rent.its all down to getting the right people in. and carrying the right weapon. Title: Re: Renting out a house Post by: Colchester Kev on February 12, 2009, 12:08:48 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !!
Title: Re: Renting out a house Post by: jizzemm on February 12, 2009, 12:09:44 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !! jesus kev ur on fire today Title: Re: Renting out a house Post by: lazaroonie on February 12, 2009, 12:11:05 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !! ha, seriously though, i often found the dss were the best payers. prompt payment, and always knew they werent getting their deposits back. Title: Re: Renting out a house Post by: jizzemm on February 12, 2009, 12:13:25 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !! ha, seriously though, i often found the dss were the best payers. prompt payment, and always knew they werent getting their deposits back. dss is a bit of a pain now.. council pay direct to tennants bank, and theu have to pay into mine.. annoying Title: Re: Renting out a house Post by: lazaroonie on February 12, 2009, 12:14:32 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !! ha, seriously though, i often found the dss were the best payers. prompt payment, and always knew they werent getting their deposits back. dss is a bit of a pain now.. council pay direct to tennants bank, and theu have to pay into mine.. annoying yuck. glad i am well out of that game now.imagine trusting those scumbags with money... tsk tsk Title: Re: Renting out a house Post by: bolt pp on February 12, 2009, 12:44:44 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !! ha, seriously though, i often found the dss were the best payers. prompt payment, and always knew they werent getting their deposits back. dss is a bit of a pain now.. council pay direct to tennants bank, and theu have to pay into mine.. annoying yuck. glad i am well out of that game now.imagine trusting those scumbags with money... tsk tsk lol Title: Re: Renting out a house Post by: totalise on February 12, 2009, 12:50:22 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !! ha, seriously though, i often found the dss were the best payers. prompt payment, and always knew they werent getting their deposits back. dss is a bit of a pain now.. council pay direct to tennants bank, and theu have to pay into mine.. annoying yuck. glad i am well out of that game now.imagine trusting those scumbags with money... tsk tsk yeah exactly, they'd have it spent on needles or diamond white before you could get ur hands on it. Damned scumbags. Title: Re: Renting out a house Post by: Colchester Kev on February 12, 2009, 12:52:00 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !! ha, seriously though, i often found the dss were the best payers. prompt payment, and always knew they werent getting their deposits back. dss is a bit of a pain now.. council pay direct to tennants bank, and theu have to pay into mine.. annoying yuck. glad i am well out of that game now.imagine trusting those scumbags with money... tsk tsk yeah exactly, they'd have it spent on needles or diamond white before you could get ur hands on it. Damned scumbags. Thats a bloody ridiculous statement they get the needles free. Title: Re: Renting out a house Post by: bolt pp on February 12, 2009, 12:59:31 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !! ha, seriously though, i often found the dss were the best payers. prompt payment, and always knew they werent getting their deposits back. dss is a bit of a pain now.. council pay direct to tennants bank, and theu have to pay into mine.. annoying yuck. glad i am well out of that game now.imagine trusting those scumbags with money... tsk tsk yeah exactly, they'd have it spent on needles or diamond white before you could get ur hands on it. Damned scumbags. Thats a bloody ridiculous statement they get the needles free. free!!! free? ffs when did this happen? sigh, all these wasted years of not being on Heroin cos i was too worried about the needle charge!!! Title: Re: Renting out a house Post by: Claw75 on February 12, 2009, 01:50:45 AM To be fair Laz, if you knocked on my door by mistake and asked me for rent ... I would pay it !! ha, seriously though, i often found the dss were the best payers. prompt payment, and always knew they werent getting their deposits back. dss is a bit of a pain now.. council pay direct to tennants bank, and theu have to pay into mine.. annoying they will pay direct to landlords if the tenant's not paying up, which is great until the tenant finds out and cancels the housing benefit..... Title: Re: Renting out a house Post by: thetank on February 12, 2009, 01:51:59 AM Those sorts of lets carry a higher risk. Insurance companies get to charge that demographic more [ ] had read about your car accident before posting this [ x ] lolz |