guru Posted May 16, 2007 Report Share Posted May 16, 2007 Hi, I am new here and new to the concept of being a landlord. I am getting it done through a letting agent. I needed to know a few things if possible. Our house is furnished, and even though the furniture is not brand new it is useable. We have just one cardboard cabinet, and we have been told to remove it. Should we remove all our furniture or give it as it is? We would want to use our equipment in the future and thus don't want to throw it away. We are willing to accept lower rent. Please suggest. Are we responsible by law to buy a new fridge and all for the tenant? Our fridge is slightly old, and is supposedly a health hazard. Thanks a lot for the help. Guru p.s. Is it safe to take somebody who has no reference, besides a bank reference? They are willing to pay 6 months rent in advance. But not willing to give details about anything else. Doesn't it sound a bit fishy? Link to comment Share on other sites More sharing options...
Reg Posted May 16, 2007 Report Share Posted May 16, 2007 The difference in rent between fully furnished and unfurnished is minimal. Also, the more things you leave in a rented property = the more things the tenant can complain about. A viable option is to let your property part furnished (removing any equipment that is dear to you, and leaving everything else there). If leaving a washing machine, put a clause in the tenancy agreement, stating that this is not part of the inventory and is the tenant's responsibility (washing machines have a tendency to break). I'm not sure about the cardboard cupboard, I would have thought, if it is in a good state of repair and works properly than there's not a problem. You do not have to buy a new fridge as long as it is working properly. No references are abit dodgy, but six months in advance probably makes the risks worthwhile, afterall how do you know another tenant will pay regularly and on time for the first six months? You should also regard a letting agent in the same way you would search for a tenant, make sure that they a credible and respected. Ask them, how many properties (letting) have they got on their books, and how long they it would normally take to let out a similar property like your one, before you choose them. Some letting agents are more keen then others to put the effort in and market your property. Personally, I don't use letting agents, after all, they aren't going to be lying awake at night worrying that your property isn't let. Make sure that the letting agent will release each months rent on the month, they shouldn't really hold the full six month deposit either. Link to comment Share on other sites More sharing options...
GPEL Posted May 16, 2007 Report Share Posted May 16, 2007 I take a slightly different view about 6 months in advance. Referencing is all about risk assessment. Someone passing normal referencing is no guarantee of future ability to honour an agreement but it is a good indication of their track record when it comes to financial obligations. I would be circumspect about their reasons for not disclosing information. What are they hiding and why? You cannot make a full assessment without at least a credit check, and previous landlord check if appliceable, therefore the risk to you is increased. Link to comment Share on other sites More sharing options...
guru Posted May 16, 2007 Author Report Share Posted May 16, 2007 Thank you so much for the suggestions Reg and GPEL. The problem is we don't stay in the country. I am glad to know that we can put a clause where the tenant is liable for repairs. I am willing to charge a lower rent, but don't want to throw away all my furniture and equipment as I will mostly return after a year or so. I feel references are not only about money, but about the character and background of the person too. If something goes wrong, I would want to know somebody I could contact. Thanks again. I think this place is going to be fun and helpful! Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted May 17, 2007 Report Share Posted May 17, 2007 Hi Take great care ! All over the country there have been episodes of chinese/vietnamese people paying 6 months up front - no questions asked . Only for LL to find that their prime investment has been turned into a cannibis factory -costing thousands to pu right. I would suggest that at the very least you have a photocopy of a passport or driving license. Some further investigation is going to be required to take this one on! Simon Link to comment Share on other sites More sharing options...
guru Posted May 17, 2007 Author Report Share Posted May 17, 2007 Hi Take great care ! All over the country there have been episodes of chinese/vietnamese people paying 6 months up front - no questions asked . Only for LL to find that their prime investment has been turned into a cannibis factory -costing thousands to pu right. I would suggest that at the very least you have a photocopy of a passport or driving license. Some further investigation is going to be required to take this one on! Simon Hi Simon, Thanks for the advice, I insisted on references. They would be providing me a bank, reference and other details through which they had gotten their previous home (mortgage details). Apparently they owned a place in the same community where we have our place. The security manger would be giving a reference too, as he has known them to live there for some time. Their solicitor would also be giving a reference. The are retired with two sons in college. I think after seeing the references, I would need to go with my gut feeling. Tell me one thing, in case anything goes wrong. Would the references be liable for anything? Would the letting agent be responsible if things go wrong? Is there anything else I need to know or be sure of before giving my place on rent? Thanks a lot for the help. I'm glad I found this place out. I'm sure a lot can be done once all of us start sharing information. Have fun, Guru Link to comment Share on other sites More sharing options...
GPEL Posted May 17, 2007 Report Share Posted May 17, 2007 The letting agent isn't responsible for the actions of others. However, they might be accountable to you if they agreed to fully reference but was later shown that this didn't occur. Tenants are selected in good faith when fully referenced but not realistic for the agent or landlord to underwrite their performance during the tenancy. The only way you can do this is with a rent guarantee product and specialist insurance policies. As for references from those such as previous landlord/employer etc, if they are later shown to be false there is probably little you could do about it without taking legal action against the individual concerned. The referencing process isn't an exact science but much better than not doing it at all. Link to comment Share on other sites More sharing options...
Melboy Posted May 17, 2007 Report Share Posted May 17, 2007 Talking of Vietnamese/Chinese Canabis factories............ We have had 5 incidences of rented houses in Swindon being uncovered as factories during the past 9 Months and a fair old number during the past couple of years. Most of these properties have been wrecked as well and in one case I know of the Landlord has had a bill of £3000 for energy/council tax used because he/she failed to inform the energy/c.tax supplier of change of Tenancy. Landlords Beware!! Which reminds me of when 2 years ago I was advertising my property through a major letting agency in Swindon (Trenners) and when I said to the LA Manager in the front room of my property that I particularly didn't want any of these type of people even considered for my house as Tenants.....he replied " Under the Human Rights Act he was not permitted to differentiate between prospective Tenants that applied for a Tenancy". I showed him the front door! Mel. Link to comment Share on other sites More sharing options...
guru Posted May 17, 2007 Author Report Share Posted May 17, 2007 I agree with you GPEL. It might not be an exact science but it is better to be as sure and safe as possible, then be sorry later on. What is even worse than not receiving rent, is having people who use the house for illegal activities. Mel, I was sorry to hear what happened. In today's times besides drugs, things like terrorism are also a major problem. I hope such things never happen to any landlord as it would be horrible, but was wondering what would happen if a tenant is found to be a terrorist or a drug dealer? Would the landlord also be in trouble? I am just asking this because I feel all of us should hope for the best, but be prepared for the worst. Link to comment Share on other sites More sharing options...
GPEL Posted May 17, 2007 Report Share Posted May 17, 2007 Mel, the LA manager's advice is correct in that it is illegal to disciminate on the grounds of race, sex or disability. Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted May 17, 2007 Report Share Posted May 17, 2007 What is much more useful is : "the management reserve the right to refuse admission" !! My house and i will decide who lives in it ! and agree with Melboy - front door it is - if not the window ! Simon Hi The best thing to do is get proper referencing done ie elecoral register, credit check,employer, prev lanlord and a copy of either passport or driving license this really is the minimum. Simon Link to comment Share on other sites More sharing options...
GPEL Posted May 17, 2007 Report Share Posted May 17, 2007 and the Crown reserves the right to prosecute if evidence of racism... Good refs & instinct good; racist reasons not good. Place of origin not a factor in assessment. Proven links to drugs etc big factor in assessment, wherever they're from!!! Just another consideration in the plethora of lettings related legislation. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.