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View Full Version : Landlords: what worries you about tenants?



jandat44
22-05-2007, 15:22 PM
Wishing to make absolutely sure my new lettings agency gets it right first time, I'd be grateful if you would let me know what are your top 3 worries about being a Landlord?

Many thanks for your time - I appreciate it.

daisy
22-05-2007, 16:33 PM
Hi Jandat44

I am fairly new to being a landlord - coming up for a year, I manage my property myself, so maybe not the answers you need - my main worries -

1) Will the tenants pay the rent or leave me unable to pay mortgage (I have taken out rent insurance)

2) If tenants don't pay rent how will I take care of this (this website is excellent, it has really helped me pick up on the law)

These were my main worries on becoming a landlord but over the year I have added some!

My current situation means I am going to look thoroughly at what landlord insurance offers when a disaster renders your property uninhabitable - I have had a stressful time of stressed tenants needing somewhere else to live in an emergency.

My other advice is check out the law and make sure your tenancy agreement would stand up in court. And make sure that the agency do a thorogh inventory - there is a good one on this site which you can download - get them to include photos, as the new deposit scheme requires a really detailed inventory if there are any disputes.

Good luck!

PaulF
22-05-2007, 16:44 PM
I'm an ICE for Tenancy Dispute Service Ltd. Believe me what you also need to do is get an extremely detailed and well written inventory. otherwise the alndlord will fin in the event of a dispute the tenant will have it all returned.

Your tenancy agreements need to be devoid of any legal jargon, written in plain English and free of onerous terms, something that "off the shelf" agreements often fail to do.

Oh! And don't forget to register with one of the three schemes to protect your tenant's deposits.

I hope you have good experience in the field of lettings otherwise my advice would be to abandon your project until you have. Also consider taking the NAEA's Technical Award in Residential Lettings & Management as a formal qualification - the only one recognised as a NVQ level 3.

P.Pilcher
22-05-2007, 20:07 PM
And another thing: Read as many posts on this board as you can about problems that landlords and tenants have with agents. Work out how you would ensure that such criticism, if justifiable, could not apply to your business.

P.P.

jandat44
25-05-2007, 16:30 PM
Thanks Daisy! Your input has been very valuable

jandat44
25-05-2007, 16:33 PM
Thank you!!

jandat44
25-05-2007, 16:34 PM
And ... thanks once again!!

TenantsLuvMe
11-04-2008, 03:46 AM
Wishing to make absolutely sure my new lettings agency gets it right first time, I'd be grateful if you would let me know what are your top 3 worries about being a Landlord?

Many thanks for your time - I appreciate it.


Generally, I am no longer worried about much anymore.

In my early years, I rented rooms in a large property and gradually I realised that getting people together who had similar energies was beneficial to me and to the atmosphere of the property, which in turn led to fewer problems and tenants staying longer.

Given that I had only 5-10 minutes to judge people, this is not something that I managed to achieve overnight. But I developed this skill to a point of often being able to deduce if someone was going to be suitable tenant during a telephone conversation and a viewing would confirm this or otherwise.

I have, to this day, no loss of rent directly from problems with tenants (void periods yes, a few) and no damage to property other than fair wear & tear. Yes, often communal areas like the bathroom, toilet and kitchen were not properly cleaned (sometimes never :eek: ) and sometimes, tenants didn't clean properly when they vacated their rooms - I always did check-outs and wrote my own simple inventories.

When I hear the horror stories on this forum and elsewhere, I count myself as very lucky, but I am also careful about who I select as tenants and this, in my view, is the number one thing to get right.


If I remember back, I think my top 3 worries were;

1. Finding tenants to fill my rooms when I needed them, to avoid voids.
2. Tenants staying long enough as per their agreement & getting along with each other.
3. Making sure the property was kept in good condition.

ah84
11-04-2008, 08:12 AM
Generally, I am no longer worried about much anymore.

In my early years, I rented rooms in a large property and gradually I realised that getting people together who had similar energies was beneficial to me and to the atmosphere of the property, which in turn led to fewer problems and tenants staying longer.

Given that I had only 5-10 minutes to judge people, this is not something that I managed to achieve overnight. But I developed this skill to a point of often being able to deduce if someone was going to be suitable tenant during a telephone conversation and a viewing would confirm this or otherwise.

I have, to this day, no loss of rent directly from problems with tenants (void periods yes, a few) and no damage to property other than fair wear & tear. Yes, often communal areas like the bathroom, toilet and kitchen were not properly cleaned (sometimes never :eek: ) and sometimes, tenants didn't clean properly when they vacated their rooms - I always did check-outs and wrote my own simple inventories.

When I hear the horror stories on this forum and elsewhere, I count myself as very lucky, but I am also careful about who I select as tenants and this, in my view, is the number one thing to get right.


If I remember back, I think my top 3 worries were;

1. Finding tenants to fill my rooms when I needed them, to avoid voids.
2. Tenants staying long enough as per their agreement & getting along with each other.
3. Making sure the property was kept in good condition.

Yes I would agree with you. My number one rule of thumb is if you are not sure about the tenant don't take them even if you suffer a void period.