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Grampa

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About Grampa

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    Super Senior Member
  • Birthday 01/01/1912

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    My Motorhome and a large glass of red or 3

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  1. If it’s an issue or concern for you in case a tenant gets locked out just provide details of a couple of your preferred contractors for the tenant to contact if an emergency. Also remember it can be a lot cheaper sometimes to gain access via a small broken window than calling out an specialised locksmith.
  2. Or if you have prior knowledge of the tenants recent renting behaviour such as them moving from one of your properties to another.
  3. As above. But as an agent myself I would advise away from using break clauses because it is so easy to get them wrong the wording can be unclear and acting on one to serve a tenant notice has a higher chance of being incorrect. Just start any new tenancy off as a 6 month fixed term and consider giving a longer one after a say 12/18 months. Keep it simple.
  4. Just add to the normal cleaning clause that it includes the balcony. Making it a requirement to remove nests maybe a unfair term and if someone had an accident doing it you may have a potential claim on your hands regardless of merit, after all you wouldn't expect tenants to clear nests from gutters. Just make sure you have a good inventory with added photos showing condition prior to the tenancy starting and signed on every page by the new tenant. Why include cleaning? That is an unusual thing to add and some tenants would take advantage of it to live in a grubby manner and make complain
  5. Dont forget BTL lenders will refuse to lend (even now) unless the EPC rating reaches a certain level. So with a low rating it will reduce the amount of potential buyers. I had to pull out of a purchase with a low EPC rating a year ago because I couldn't get any BTL finance on it. The property was liveable but I was planning to renovate anyway which the lender knew above and I was prepared to give an undertaking to do so within 4 months but still had to withdraw.
  6. I agree, 6 month tenancy to start with and consider a longer one at a later date when you have established how good the tenant is. If Open rent are pushing for a 2 year tenancy I suspect the reason is to keep you tied in. It is not in your best interest to start off with a 2 year tenancy. "Cost Effective" should not be your leading consideration when choosing an agent as SO many things can go wrong and you are likely to get a more personalised service from a local agent who knows the local market and also a lot of the local tenants and which ones to avoid which a electronic reference will not
  7. Make it clear it writing IN ADVANCE that any works done have to be done to a workman like standard otherwise they (tenant) will incur the cost of rectifying. You agree in writing what rooms to be painted, the specific colours and the scope of what to be done ie: woodwork, wall, ceilings and what isnt to be painted ie: stained doors etc. You could also agree to inspect at certain stages such as agreeing to a small room painted first to inspect the standard of decorating before agreeing to further areas. Tenants decorating has the potential to go horribly wrong as I found
  8. Though I agree British Justice is likely favourable over most countries its still has many many failings starting with the police who in my view see a result the same as justice which it isnt.
  9. I don't understand all the hooha about Tax avoidance, If the the rules allow it, its the government fault not the person whose been advised by their accountant to structure a financial product in a certain way. After all you pay an accountant to save to money and as long as its done legally how are you supposed to know otherwise.
  10. A good start in sourcing a agent is to look at google and Facebook reviews. As long as there at a number of them it will give you a balanced starting point and help in comparing one against another.
  11. Basically he has broke the rules and he can’t serve notice until the deposit is returned in full. He can then serve notice in the normal manner. If he doesn’t the notice will be invalid. However, as he failed to protect the deposit originally he has the risk of the tenants putting in a claim for UP TO 3x the value of the deposit. As he appears to be an inexperienced landlord I strongly advise that he instructs a professional eviction company to take it from here.
  12. I've been looking at 3 bed terrace houses in the region of 250/260k generating about £1100 pcm but another option is the same type of houses already split into 2 flats generating £650+ X2 pcm. A number of pro and cons for this but it is another angle to consider.
  13. I would also say having just one property as your sole income leaves you at risk of reduced or no income during void periods, large maintenance expenses or problems with non payment of rent. Having 2 or ideally 3 (smaller) properties could mitigate the risk.
  14. As someone you doesn't do their own account as I have family who are accountants I can confirm many companies and sole traders do just dump off a box or tesco carrier bag of receipts off at their accountant. (me not being one). Also amongst the receipts will be a lot of personal expenses just chucked it as well which have to be discounted and separated. But as we know you can be the best bricky or sparky in the world but it doesn't make you a good businessman.
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