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Everything posted by Trenners

  1. Hi Mel, Not in Tenerife at the moment although I did use some of my letting agency profits to finally buy a place in the sun ... so I will be off soon. I didn't get a reply from this poster ... so I must assume he has given up .... which is a shame .... Hope you are keeping well .... maybe see you out at the Principe Bahia in Tenerife over the winter? Best Wishes Mark
  2. Hi Malcolm, My advice is ....don't give up ....... Creating a letting agency takes time ..... but it can be achieved ...... I should know ... as, after 10 years of being a landlord, I established my own letting agency (which I have subsequently sold for a very substantial 6 figure sum). You need to think very long and very hard "what makes you different from the other letting agents" and "why would a landlord choose you over the competition". You need to have a compelling proposition ..... but most importantly ........ being different makes you unique .... which means you sell on yo
  3. Hi My advice is to stop sending emails and organise a council of war meeting with the tenant at your property ASAP. It's clear he hasn't got the rent at the moment - which is probably why he is avoiding you. You need to agree a repayment plan with him .... explain that if he keeps to the repayment plan then you will take no further action otherwise you will evict. You could also ask that the rent be transferred to you directly from his employer out of his wages ... including any additional amount to contribute towards the arrears he owes. If he is a reasonable tenant then he will ag
  4. Hi Mel Yes ... I'm back and I've got a bottle of sherry reserved for you. Thanks for your help. Best wishes Trenners
  5. Hi The way I see it is .... you've had good tenants for a number of years ... they are splitting up now .... but they have assured you that they will continue to pay you the rent ...... They are fully communicating with you .... and they seem decent enough people to me .... HOWEVER ..... a single mother with a couple of kids will be fully entitled to Housing Benefit as long as the HUSBAND is removed from the tenancy agreement ..... if his name remains on that agreement ... then the Council are absolved of any responsibility ..... Given that the tenants have been so open and honest
  6. Hi everyone (and thanks for the name check Melboy), The reason why I got into letting property to DSS tenants ... and then helping other landlords let their property to DSS tenants as well .... is to minimise the void periods and thereby maximize my rental income and minimize costs (caused by advertising, tenant vetting, voids etc). If a property is void for 6 weeks a year (I think that is the industry average although mine are never empty that long) then the landlord loses 12.5% of their annual rental income whilst the property is empty. If you rent out to a DSS tenant ..... or indeed
  7. Hi tipster, I think that is wise ...... but you still need to protect that deposit as well - do it tomorrow - because the head of housing will not be as sympathetic when he finds out that you have been a rogue landlord and broken the law. I'm based in Wiltshire .... if by chance your Council is Swindon or Wiltshire or Gloucestershire ... let me know as I have some excellent relationships in those Councils. Send me a personal email to: mark@mlettings.com if I can help you further ... Good Luck (again) Mark
  8. Hi I think this comes down to a simple question. Was the flat clean when you moved it (I assume YES). Is the flat at the same level of cleanliness now that the tenancy has ended (I assume YES again) .... in which case the flats doesn't need cleaning - irrespective of what dodgy clauses might have been added to the tenancy agreement after you signed it. If the landlord tries to make a deduction for cleaning (when the flat is indeed as clean as when you took possession) then you need to reject this claim - in writing - and, if the landlord still refuses to refund all of your deposit, then yo
  9. Hi LHA - and a request to pay it directly to the landlord - is completed as part of the standard Housing Benefit Form (assuming you are entitled to receive the LHA benefit directly because your tenant is deemed "vulnerable"). A licence agreement can only be used to establish a tenancy within an HMO if the landlord, himself, is RESIDENT within the property. If the landlord doesn't live at the HMO then an Assured Shorthold Tenancy must be used. If you use a licence and you don't live at the property (which I assume you don't) ..... and you end up in Court for illegal eviction ... the Cou
  10. Hi Tipster, The way to resolve this is not, in my opinion, through Section 21 or Section 8. Section 21 can't be used anyway (because you failed to protect the deposit as previously discussed. More on this in a moment. Section 8 is an absolute minefield and I would strongly recommend you do not follow this route. Why? Well S8 involves going before a judge, in a court of law, where the astute tenant (who clearly knows her rights) will plead that you are the evil landlord (who has been horrible to her and hasn't protected her deposit and she is vulnerable etc etc) and she is the victim ..
  11. Hi waspie, I am much more sympathetic to your plight than, perhaps, some others on the forum. I totally agree that a Housing Association should demonstrate a clear duty of care to their tenants - not least because they are providing housing accommodation to some of the most vulnerable people in our society. I know that legislation does not demand periodic inspections ...... but that doesn't mean you should endanger the lives of your tenants (by not ensuring the accommodation provided is both safe and fit for human habitation). I am an accredited landlord with my local Council - and have
  12. Hi Stressed John, If it looks like a deposit, if it smells like a deposit ..... then it is a DEPOSIT irrespective of what the paperwork might say ... or what your "dodgy landlord" might say ...... The best way to get action from a landlord ... is to hit him where it hurts ... "IN THE WALLET" ...... If it was me ... I would refuse to move out of the property ... or remove my possessions .. or return the keys ... until he refunds MY DEPOSIT .... If he won't refund my deposit ... I will stay at the property until I have exhausted the rent payment (ie: used up all the deposit as rent) ...... I
  13. I often fit new bathrooms at my rental properties whilst the tenant is in situ .... and the solution is really easy! You find out when the tenant is going on holiday for a week ... and you arrange for the bathroom to be replaced whilst they are away on holiday by using a reliable builder / plumber that you trust and know will get the job finished to a high standard within the allotted time period (ie: 1 week). Hope that helps Trenners
  14. Hi axil23, If the tenant has given you a DEPOSIT and you have not protected it (in a Government approved scheme) then you have broken the law. I assume you have not protected it? If the tenant takes you to court and proves that he gave you a deposit and you did not protect it ... the judge will award THREE TIMES the deposit as compensation to the tenant ... meaning you will be forced to pay the tenant £750. This really really really is not worth fighting ..... I urge you to give the tenant his £250 back before this turns into a horrible, legal, can of worms ........ which you will probably
  15. Hi Axil23, Give him his deposit back .... and move on ... life is to short arguing with time wasting tenants over £250. It's not worth the stress, it's not worth the hassle, it's not worth your time. Instead, focus on finding another tenant asap that will appreciate your lovely property and appreciate you as a landlord. Good Luck
  16. Hi, YES - it is really really easy to get the dates wrong .... and it is even easier to get the dates wrong if you have a statutory periodic tenancy with a Housing Benefit tenant in situ! Once the initial 6 month term comes to an end .... you create a SPT ...... and the tenancy is determined by the frequency that the rent is paid .... as defined in the tenancy agreement ... and this frequency of payment is used to calculate the dates for the Section 21 notice. To explain ... most tenancies are 6 months in length and rent is paid monthly ... so when you create an SPT you create it on a m
  17. Hi String Vest, Well .... the letting agents (LA) are a "soft target" to blame .... but is it there fault ? The LA claims that the tenant didn't have a dog ... this is a common problem ... because THE TENANT hides the dog when the LA comes to do an inspection ... and the LA cannot come around and do an inspection unannounced. However .. it is no excuse for the LA to return the entire deposit to the tenant's as it is clear, by your description, that the property has been damaged and the LA has been negligent (in not deducting the damage from the deposit before returning any balance to th
  18. I totally disagree with Richlist! Although the cheapest B2L mortgage might well be 3.85% (source Mail on Sunday etc) .... it depends on deposit available, individual financial circumstances etc etc etc ... and for the purposes of answering the question ... a plan for a 4.5% interest rate is not unreasonable. The adjustment of income tax against the mortgage interest is irrelevant. By example, if rental income is £6000 per annum and expenses (mortgage interest, maintenance, fees etc) is £3000 per annum then my PROFIT is £3000. This profit is subject to 20% or 40% tax .... not the mortgage
  19. Hi PIN, Some comments ..... 1) The COUNCIL do not assess Housing Benefit claims .... the DHSS / DWP perform this assessment and pay benefit entitlement to the tenant. It is the TENANTs benefit ....... he tells the DHSS where he is living. 2) A tenant can only physically live in one property. ie: ONE TENANT = ONE HOUSING BENEFIT CLAIM. 3) The tenant has told the DHSS / DWP that he doesn't live at your property anymore ... and that he moved out in December 2010. 4) So .... the DHSS / DWP have stopped paying you ... and have diverted all of the tenant's benefit to the new landlord as of D
  20. Hi Newbie, If you use your savings (all £200K) to purchase a property then you will NOT need a buy to let (B2L) mortgage. B2L mortgages typically cost from 4.5% upwards (depending on what upfront fees you pay ... and how much deposit you put down on the purchase). So ... by using your savings to fund the B2L purchase you are, effectively, getting 4.5%+ return on your money. That is a good return (compared to the best building society rates at the moment). However .. you are also putting "all your eggs in one basket/property" and you have a "binary letting business" in the fact that your SI
  21. Simple advice from me ...... it sounds too good to be true ...... so it is too good to be true ...... Swerve the opportunity ...... Mark
  22. Lots of good advice already ..... so I will keep my comments brief. Never buy flats ..... far too many investors are chasing far too few tenants in this sector ... and have had their figures burnt with long void periods, negative equity and high maintenance charges. 2 bedroom houses with equal sized bedrooms (if possible) is the best opt in IMO. Being a landlord is a long term - 10 to 15 year- investment. If each property is creating an annual profit of about £1000 and you expect property prices to double in the next 15 years then you will achieve an income of £15,000 and capital gr
  23. Trenners


    Hi, Well - my parents always told me that "things that are free are of NO VALUE" - and the Deposit Protection Service is free to landlords and we should all be very wary of that. The moment you give the deposit to someone else to hold (as per the rules of the custodial deposit scheme) ....... you lose control .... My point is that you should have become a member of the National Landlords Association and kept the deposit in YOUR OWN bank account, and protected it by PURCHASING an deposit protection certificate from Tenancy Deposit Solutions (http://www.mydeposits.co.uk) - run by the Nation
  24. Hi, A couple - or single parent family - WITH ONE CHILD would be the most likely people to rent your property. How many 13year old do you know who would be happy sharing a second bedroom with their 7 year old sibling? Also - you don't say - are the children the same sex or different sexes? If they are different sex then my point is even more important!! First rule of landlording - always meet your prospective tenants and be prepared to ask them searching questions like : Why do you want to rent my house? Why do you want to live in this area? Why must the children share bedrooms - wouldn't
  25. You guys are making me blush ..... glad you found the advice useful ... Good luck with your investments .... Mark
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