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Poll: How do other landlords let out property?


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It's been nagging me that Landlords own property, the internet exists, yet landlords have access to only Gumtree online.

It would be interesting to poll what other landlords do:

1. Use an agent (paying % of rent - if you're inclined, do share what you pay)

2. Use an online agent (paying fixed fee - also do share £ amount)

3. Gumtree and/or Spareroom

4. Other?

I'll compile the results into something neat after a few days.

Thanks,

Rayhan

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It's been nagging me that Landlords own property, the internet exists, yet landlords have access to only Gumtree online.

Thats a very narrow & unimaginative view.

Many landlords like me are able to think out of the box when it comes to marketting their properties.

Here's just a flavour of whats available..... I'm sure you can think of a few more yourself if you try.

* Lettings Agent.....their window, local newspaper, Rightmove, Zoopla, agents distribute broadsheet to people looking for property.

* Local shop window.

* Free local newspapers

* My own Advert in property window.

* Finders fee offered to all my existing tenants ...who can find me a suitable tenant for empty property.

* Notice boards of all the major employers in my area ( you need to have employee contacts).

* ANY notice board ANYWHERE in the vicinity of the property

* Trade magazines.......teachers/ health service workers etc.

* Friends, neighbours, family, business associates.

* Reluctantly on Gumtree ( only seems to attract an underclass of applicannts who are totally unsuitable for me).

* Lots of other property web sites.

* etc etc

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The only method I don't use is Gumtree. Word of mouth is pretty good for my area. I have used LA's in the past mostly with success.

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  • 2 weeks later...

Yes just finding a tenant right now through my LA that I use. 80% of the 1st months rent plus VAT.

Works for me. They do all the referencing and guarantor, paperwork etc. etc. and I do all the accompanied viewings.

I have to say there is a bit of give and take between us on who does what by mutual agreement.

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Like others, the majority of my lets are thru my LA tenant find service but, occasionally, I find them myself .....the last 2 have been:

1. Existing tenant of mine introduced me to a work collegue who was looking to rent (I always pay my tenants a small finders fee as an incentive).

2. Old tenant of 6 years ago moving back to my area and looking for somewhere to rent emailed me asking if I had anywhere available.

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Personally I have found that using relocation agents to manage the letting processes is far more efficient and secure way of finding tenants. I have been using relocationsupport since 2010 and have not had a single issue.

I have always paid the same as using a LA and the quality of the applicants has been remarkable considering issues that i have had.

I have property all over the UK and the tenants they have found have been long term just as requested.

Highly recomended and as no one seems to have looked at this option might just be worth considering.

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I'm a new landlord and i would like to rent my 2 bedroom flat. My local LA is asking me a very high fee, I tried to use spareroom, but i would like to rent out the whole flat and not just a room. have you got any suggestions? any local newspapers or magazine? thank you very much Marghe

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  • 1 month later...

Well, having my DSS/DWP tenant leave last month has totally convinced me never to go down this route.

I inherited the tenant with the property after the owner ran into financial difficulties and I bought the flat for just below market value of around an £8,000.discount

The tenant had a good 2 year track record but was unemployed and drawing benefits with the rent being paid direct to me through my LA.

First thing to hit me was the reduction of rent by the Government for 1 bed flats which cost me £25 a month. Wasn't too concerned as I had a good long term tenant or so it would have appeared to be at the time.

Last June / July it all started to go down- hill with my tenant acting strangely with neighbours and a few complaints came my way so the decision was to evict him but as it happened he wanted to leave anyway so it was straight forward enough problem to deal with.

My tenant was away overseas for over 5 weeks ( how do they get away with that then? ) which meant his benefits stopped including his rent payable to me. Here's my complaint.....couldn't any get information out of DWP about what was going to happen about rent payment etc. They did not want to discuss it with me. No matter what you say they are just not interested in YOU as the landlord.

Everything has to be done through the tenant and "channels". You could end up really out of pocket but I was lucky in as much that my tenant fought for the money when he got back, knew the claiming procedures inside out and eventually 2 months later I got my rent money.

It could have gone the other way very easily.

I have spent just £2,000 refurbishing the flat throughout and my new tenant has moved in officially today and what a dramatic difference in the tenancy and the tenant . I am also £50 a month better off as the flat has been let at the correct rental rate for my area.

Little wonder there is a housing crisis for the lest well off in our society and the blame for that imo lies firmly at the DWP for their hiding behind the data protection act at every opportunity they get. They don't give a damn for responsible landlords.

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One of the most important things to do with HB tenants is to get a letter signed or have a clause in the contract that the tenant allows all details regarding the HB claim to be discussed with the landlord. Without this as you have found out Mel it is a uphill struggle.

I know all councils are different but once I have this my council will tell me:

1 What info they are waiting on from the tenant.

2 Why the claim has stopped

3 When it will start up again

4 When the next payment will be and how much.

5 How much the tenant have received in previous payments and when.

6 If the claim has been cancelled and why.

6 Is the claim going to start up again. This info can save a lot of time as you can serve s21/s8 at the earliest opportunity and not be delayed by excuse after excuse which is what happens to a lot of landlords.

Nowadays it is rare for me to have to request this sort of info from the council but with it the tenants cant blow smoke up your backside and blame it (late rent payment) on xyz when in fact it maybe something as minor as not supplying a bank statement when asked.

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This is all great stuff and going into the records file for when I officially become a SLUM landlord.

I'm quite looking forward to it now.

You get what you pay for RL ....... or should that be receive? :D

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This is all great stuff and going into the records file for when I officially become a SLUM landlord.

I'm quite looking forward to it now.

Just as well

Next week, on October 15, another private members’ Bill is due to have a reading. Labour MP Jeremy Corbyn also wants to outlaw discrimination by landlords against tenants on benefits. -

:D

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I don't think it really matters what laws are passed, landlords will always be able to find a reason not to let a property to someone they don't want. In fact, if you look at the list of people I currently don't take......you'd think I wouldn't be able to find anyone.

Applicants on benefits often....

* don't qualify for rent guarantee insurance,

* usually can't produce a home owning guarantor,

* are sometimes unemployed, do no work of any kind or work shifts or unsuitable hours.

and if none of those reasons disqualify them, which is unlikely, then, I have lots of others.

Do I discriminate.....YES definitely...... but its not about colour,race or religion. Its about minimising risk and maximising income.

Being a slum landlord seems to require a totally different approach, attitude and list of values. I'm intending to run this as a completely separate business. The properties won't be anywhere near as good, won't get the usual maintenance & repairs but will command reasonably high rents . I won't be as selective with applicants as I currently am with my smarter properties. Any legislation is unlikely to affect any of my tenant selections for these properties.

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Just as well

Next week, on October 15, another private members’ Bill is due to have a reading. Labour MP Jeremy Corbyn also wants to outlaw discrimination by landlords against tenants on benefits. -

:D

Another piece of unenforcable legislation. What that means is, if it passed into law, is that you will not be able to advertise your rental property as "No DSS"

Big deal eh! I will place into my properties who I want and not want I am being told to do so by a stupid unenforcable piece of crass legislation.

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  • 3 years later...

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