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Thoughts Please

Carryon Regardless

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I've a property that gets very poor attention from adverts, in the months of advertising at lower than local rental rates I've not had a viewing.

In other areas I've offered 2 weeks and even 1 month free rent to attract attention, and it's worked.

I've thought up a new incentive.

The rent is up at £375 pcm, for a 2 bed terraced, the local rate seems to be £395 but there is much competition.

Remembering that future T's are most likely going to be HB, there's little choice in my real world. I am considering the pro's and cons of offering a rebate of £200 each 6 months. The deposit will be there also, I hope. But more often a deposit only has any consideration by T's at departure and by then the bad 'uns are at a point of being unable to recover from their (my) adverse situation.

A bi annual rebate should help keep T's better focussed on their responsibilities ( I recognise the contradiction in that last sentence).

Would the rebate for being up to date with rents, and no other tenancy issues be considered a deposit, should it be 'protected'.

There would be no one off payment to be returned but I recognise that it may be viewed that each month 1/6 of a deposit was paid for return later, and of course there is the ability to 'add' to a protected deposit.

I have interest in the views of others here.

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The short answer is .....I don't know. I'm sure someone with legal knowledge will be along shortly.

In the meantime there is usually more than one way of achieving your goal. I reckon that if you think out of the box, creatively, you can come up with lots of different ways to incentivise a future 'benefits' tenant that won't go anwhere near to being considered a deposit.

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On a slightly different tack there seems to be a trend (whether encouraged by LA,s to get a "sale " or not I dont know ) of making an offer as what rent they wish to pay , normally trying to trim £50 per month off the rent. I have always said no, but the last one who tried it I agreed to but in a different way , I had drawn up a document that said I would give them a cheque at the beginning 3rd year of their tenure of the property for £50 pm x36 (£1800). this worked and they stayed the 3 years (still there now on year 5 ),they now pay the rent as advertised and I have a £50pm rent rise without having to issue a section 13 or pay an agent to find a tenant.

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I guess there are many ways of offering some incentives for good tenants. I currently rent out a 1 bed flat through Trenner's LA ( on the forum) for an established DSS tenant.

I carried out a property check a couple of weeks ago and as my checks are always a two way conversation I asked if there was anything he needed at all ( he is very short of money ). He said he would love a microwave oven and some new lampshades and a computer desk light and a bedside table. I have to mention the fact that he keeps this flat in an immaculate and clean condition.

By luck and after asking around ( I know a lot of people! :D ) I was able to provide him with all of these items within 3 days.

Well, you would have thought he had won the lottery as he was so pleased with what I had done for him.

It's these little things in my view that provides for a good tenant and landlord relationship and for me it cost very little to provide him with these items.

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