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adarmo

Landlord turned tenant

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Nice find!

Quote

I know the feeling.

I have been viewing university accommodation for one of my children.  Try £158pw for a small room with a single bed SHARING with another person with their single bed also paying £158pw, no communal area but a kitchen shared by 22!  OK its London, but my first thought was my goodness I am far, far, far, too cheap with my places.

nevermind_nathan_fillion.gif

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7 hours ago, oatbake said:

I wouldn't let it bother you. I suspect that when Section 24 ramps up, I expect they will get plenty more experience of being a tenant 😉

This.

LL meet flophouse, flophouse meet LL.

You'll be sharing with Dave the drink ...

 

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'I have been viewing university accommodation for one of my children.  Try £158pw for a small room with a single bed SHARING with another person with their single bed also paying £158pw, no communal area but a kitchen shared by 22!  OK its London, but my first thought was my goodness I am far, far, far, too cheap with my places. '

And that, good people, is the gormlessness of Browns moron army of IO BTL in a nutshell.

There's one month where popel are desperate to get accommodation, 1000s of 18yo turning up in a strange town with no idea what to do.

Did the LL walk around and see a large number of purpose built accommodation blocks going up?

Are they going to go back in November to see how many student lets are empty, facing a year of voids?

Did he check the councils website to see how many places the council has shutdown?

Did the LL check out the 18yo demographics which show hefty drop in numbers?

Did they check out how the fees ban is going to end all this?

Has he asked around 16yo to see how mnay are wanting to go to Uni? Way too many of these 16yo will have 20+ yo cousins and siblings working in Starbucks with a degree in whatnot.

Nope.

Ohh look money. houses!! Leverage up.

 

 

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I am assuming all these are lost, ie the tenant pays these to the agent

 

£150 Tenancy agreement

£30 deposit management

£300 reference fee – up to 2 people

£120 checkout report

£350 administration fee

£132 check-in fee

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8 minutes ago, prozac said:

I am assuming all these are lost, ie the tenant pays these to the agent

 

£150 Tenancy agreement

£30 deposit management

£300 reference fee – up to 2 people

£120 checkout report

£350 administration fee

£132 check-in fee

Yes.

A walk aroudn town shows loads of letting agencies. Some old, some new.

These dont have a business model when that law comes  in.

 

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2 minutes ago, spyguy said:

Yes.

A walk aroudn town shows loads of letting agencies. Some old, some new.

These dont have a business model when that law comes  in.

 

an online model would be best, i think that would be the most cost effectiive way

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3 minutes ago, prozac said:

an online model would be best, i think that would be the most cost effectiive way

EAs dont have a pretty big entry hurdle.

All the EAs Ive met in my time have been thick.

However, residential EAs used to look down at letting agents. It did used to be the poorer cousin. Of course as transaction have dried up, resi EAs have been kept up by scamming tenant fees..

Come the fee ban, come the great EA eat EA.

Popcorn.

 

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When is the fees ban coming in? Has it been delayed again?

Predictions that it'll be widely flouted with no enforcement, just like the law on deposits? How many agents have been closed down because they flouted the law on deposits?

 

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17 minutes ago, mrtickle said:

When is the fees ban coming in? Has it been delayed again?

Predictions that it'll be widely flouted with no enforcement, just like the law on deposits? How many agents have been closed down because they flouted the law on deposits?

 

You can follow it's progress through parliament here...

https://services.parliament.uk/bills/2017-19/tenantfees.html

Cheers

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Last year I had rent a place for six months after being out of the rental market since 1992. I'm also self-employed which didn't help. Basically no one in my area would rent outside of an agent because of the income insurance they offer if the tenant goes bad. I couldn't believe the shit I was viewing. Damp, filthy places with black mold and carpets from the 70s. One shit hole even had a fridge full of food the last tenant left, the electric was off because the key meter had run out, the place was full of flies. I totally lost my shit with the agent and told him to get ******ed after that.

 

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4 minutes ago, dom said:

Last year I had rent a place for six months after being out of the rental market since 1992. I'm also self-employed which didn't help. Basically no one in my area would rent outside of an agent because of the income insurance they offer if the tenant goes bad. I couldn't believe the shit I was viewing. Damp, filthy places with black mold and carpets from the 70s. One shit hole even had a fridge full of food the last tenant left, the electric was off because the key meter had run out, the place was full of flies. I totally lost my shit with the agent and told him to get ******ed after that.

 

What happened next? Where did you go? Presumably you found a better agent?

 

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18 minutes ago, mrtickle said:

What happened next? Where did you go? Presumably you found a better agent?

 

I saw a card in the PO window for a two bed flat. The card was ominously sun bleached. The flat was above a chip shop and next to a convenience stove, probably the reason it had been vacant for so long. Even so, the LL wanted 3 months up front. The opportunity for sleep was between the pubs kicking out and the shop deliveries starting at 2am. There were issues with the bodged plumbing and other stuff, all of which I fixed myself. When i moved out the LL quibbled about a stain on the carpet (there when I moved in), the cleanliness of the cheapest, barely functional electric oven (which I cleaned) and a tear in the shitty kitchen lino which wasn't even bonded to the chipboard floor. During my tenancy the sash windows wouldn't close properly because the latches were broken. I had offered to fit new ones if she could provide them, that never happened. After all of this I came to the conclusion that all these money-for-nothing rent seekers are of no use to society, (in fact they are the net drain, externalising the cost of their existence) and really need to be careful. I wouldn't be surprised if we see some kind of organised hate in their direction.

Edit: to add, this was by far the best place of the few available for the money.

Edited by dom

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3 minutes ago, mrtickle said:

Thanks. Completely agree with you! Hope you didn't have to stay there for too long.

The 3 months' rent up-front will be banned by the tenants fee bill.

 

The LL was a retired estate/letting agent! She knew the score, told me that because I was self-employed, not rented since 1992, no refs, etc, that no agent would touch me. She knew I was desperate, the other bedroom was for my 12yo daughter, and she took advantage.

One of the other dumps I looked at was a one bed terrace cottage with asbestos roof. The front door opened against the ******ing kitchen. My head touched the ceiling upstairs. I thought it was some kind of practical joke. The previous tenant said the key meter would rinse him of £1 when he had a shower.

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Nasty piece of work. 

When I rented I saw a few properties not fit for human habitation, too. I felt disgusted, and angry that someone would end up living there and paying the landlord money.

My worry for the future is lack of enforcement. These places need to be razed to the ground so that no-one can pay rent for them. "Unencumbered" LLs not affected by Section 24 et al who own these properties outright will still get away with it otherwise.

 

 

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As a tenant who has also become a landlord due to the death of a parent is like to tell a story from the other side. I inherited a house which my wife refuses to move into. If I sell it and use the money andall our savings to buy something where we live now then the best we could afford is a 2 bed ex council house.

So after having our savings destroyed by hpi I decided that I can't risk not having a house should one of us get Ill. My wife has Crohn's disease and has had a few operations already. 

Anyway, after stripping the entire house, repainting and fitting new carpet throughout I approached the letting agent. Despite me giving them clear instructions on acceptable tenants and the max amount of people I would allow they have sent me details of every person that has shown an interest. They will give no opinion on anything to do with letting of the house. The only thing they have done is relieve me of £500.

 

 

 

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2 hours ago, mrdirkles said:

As a tenant who has also become a landlord due to the death of a parent is like to tell a story from the other side. I inherited a house which my wife refuses to move into. If I sell it and use the money andall our savings to buy something where we live now then the best we could afford is a 2 bed ex council house.

So after having our savings destroyed by hpi I decided that I can't risk not having a house should one of us get Ill. My wife has Crohn's disease and has had a few operations already. 

Anyway, after stripping the entire house, repainting and fitting new carpet throughout I approached the letting agent. Despite me giving them clear instructions on acceptable tenants and the max amount of people I would allow they have sent me details of every person that has shown an interest. They will give no opinion on anything to do with letting of the house. The only thing they have done is relieve me of £500.

 

 

 

What part of the country are you in

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2 hours ago, mrdirkles said:

As a tenant who has also become a landlord due to the death of a parent is like to tell a story from the other side. I inherited a house which my wife refuses to move into. If I sell it and use the money andall our savings to buy something where we live now then the best we could afford is a 2 bed ex council house.

So after having our savings destroyed by hpi I decided that I can't risk not having a house should one of us get Ill. My wife has Crohn's disease and has had a few operations already. 

Anyway, after stripping the entire house, repainting and fitting new carpet throughout I approached the letting agent. Despite me giving them clear instructions on acceptable tenants and the max amount of people I would allow they have sent me details of every person that has shown an interest. They will give no opinion on anything to do with letting of the house. The only thing they have done is relieve me of £500.

 

 

 

Just get a work reference and dont let to a local person under 25.

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What's wrong with a 2 bed ex council house? Couldn't you sell it while it's still worth more than it will be when proves are correct or sell it? Rather than hoard a house you don't need 

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  • 238 Brexit, House prices and Summer 2020

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