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Hi,

We STR a few years back and are considering an upgrade although as we're in a semi-rural area we don't have a huge swathe of options within a decent distance to the kid's current school and the office of my small business.

An idea my Mrs had yesterday was to approach the EA's of houses for sale (at sale prices I could never afford) that have not moved (thanks Property Bee) and ask them direct if they'd rent for a figure around our budget, a few are seriously considering and anecdotal comment for the EAs spoken too was that this is increasingly becoming an option for vendors.

I can see that having an accidental landlord is likely to be problematic from the start was looking to come up with a checklist of things to, erm, check against before we make any moves.

Things I can think of are arranging a decent length of tenancy - 2 years would be perfect for us - and the issue around people being shown around, I was hoping to get them to agree to take the house off the market though cant see how we could enforce this.

Anything else?

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Hi,

We STR a few years back and are considering an upgrade although as we're in a semi-rural area we don't have a huge swathe of options within a decent distance to the kid's current school and the office of my small business.

An idea my Mrs had yesterday was to approach the EA's of houses for sale (at sale prices I could never afford) that have not moved (thanks Property Bee) and ask them direct if they'd rent for a figure around our budget, a few are seriously considering and anecdotal comment for the EAs spoken too was that this is increasingly becoming an option for vendors.

I can see that having an accidental landlord is likely to be problematic from the start was looking to come up with a checklist of things to, erm, check against before we make any moves.

Things I can think of are arranging a decent length of tenancy - 2 years would be perfect for us - and the issue around people being shown around, I was hoping to get them to agree to take the house off the market though cant see how we could enforce this.

Anything else?

Hi OMG

We had a debate on the very topic a few weeks ago, and one poster even posted a draft letter which renters could pop through the doors of the houses they liked for sale, to see if sellers unable to shift property would be interested in renting out their property until the 'crash is over'.

Having a chat yesturday with a colleague in that exact position, I think many are willing.

Goodluck

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I think my main problem with this is say you move into the house and then a few weeks later the house sells (you never know) and you have to move out! Theres alot of cost there.

Plus accidental landlords are always a ball ache

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I think my main problem with this is say you move into the house and then a few weeks later the house sells (you never know) and you have to move out! Theres alot of cost there.

Plus accidental landlords are always a ball ache

See your point, renters always get done for removal costs, and that is my big debateable point when LL tell us 'we can just move'...er it isn't cheap...though it is getting alot cheaper. these days..

'If the house sells' :lol: .....I'd risk that in todays climate...and even if, you may get 6 months or more to organise your move..in which case house rentals will have dropped further again therefore offsetting removal costs, in fact you may even make a buck or two.

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We had a debate on the very topic a few weeks ago, and one poster even posted a draft letter which renters could pop through the doors of the houses they liked for sale, to see if sellers unable to shift property would be interested in renting out their property until the 'crash is over'.

Ah, found it, the old only-checked-the-first-page-of-threads chestnut.

Thanks I'll take a look

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I think renting from amateur landlords might not be so clever.

What if you have maintenance problems, central heating, damp etc ?

You would have to check they know about deposits being held by third party.

Gas certificates and electrical safety, as well.

I STRd a while back and much prefer to rent off professionals through

an Agency.

I get a first class service - maintenance issues settled immediately.

Also, the professionals are unlikely to default on mortgage and much less

likely to want to sell up - despite the downturn - so much more secure.

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I think renting from amateur landlords might not be so clever.

What if you have maintenance problems, central heating, damp etc ?

You would have to check they know about deposits being held by third party.

Gas certificates and electrical safety, as well.

I STRd a while back and much prefer to rent off professionals through

an Agency.

I get a first class service - maintenance issues settled immediately.

Also, the professionals are unlikely to default on mortgage and much less

likely to want to sell up - despite the downturn - so much more secure.

Hi Potnoodle

I understand what you're saying and am glad you had a good service from the professionals, but my experience is somewhat at odds with that...often agencies are useless and take the money, don't do credit checks (we should also have credit checks on LL),many are going broke with the HPC, and not even paying the LL, renters deposits getting 'lost' in the post.

If a professional LL has overstretched themselves, they may well be at greater risk from being repo'd, than the amatuer who simply wants to make a bit of money on the side whilst the housing situation recovers, which we all knowwill be 8 years or so.

Are'nt there a number of pro LL wanting to sell their portfolio on rightmove?

Pro or amateur, it is all risk.

Edited by renterbob

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I'll say up front I don't claim any expertise in this area.

Considering the question abstractly as a business negotiation :-

On the benefit side I hope to rent somewhere "better" than the money would normally achieve. This "better" might be in terms of a convenient location or in terms of a larger / nicer property.

Since I should not expect to get something for nothing I should expect negatives to offset this benefit. I'll have an amatuer landlord who will have no knowledge of their responsibilities and who is expecting 'my' proposal to mean his mortgage is covered for no fuss or effort.

That defines trade offs -

1) I pay the mortgage but accept you'll get much less than a good landlord would provide, or

2) I pay more, on the understanding the amatuer landlord will do more than the minimum he ideally hoped for, or

3) I calculate what the amatuer landlord needs, then get him to find out what an agent would charge me to achieve what the landlord needs and pay through that agent, AND get the agent to train the amatuer landlord so that he adds in sufficient margin to afford to cover all of a good landlords responsibilities.

There's a spectrum of options. The last probably provides no financial saving but may be worthwhile to minimise the inexperience issue and get the location.

If pitching this proposition to a home owner its up to me to decide where on the spectrum to pitch, and its down to me to accept any risks that go with any gain. Conversely the homeowner needs to accept the risk that his inexperience may land him with costs for legal obligations of which he was unaware, and offset this against the benefit of getting his mortgage covered. Both parties should be going into the negotiation with their eyes open.

For the prospective renter there is a good case for ensuring the amatuer landlord properly understand his risks, even if that reduces the gain. This goes some way to reducing the chances of, sometime in the future, a great big fight where both parties genuinely have reason to think right is on their side. Thats the kind of fight that hurts everyone. Going into this thinking in terms of "winning" the negotiation is probably short-sighted. If I want it to go smoothly the amatuer landlord probably needs to win as well.

I suspect the chances of both parties going into this sort of negotiation with appropriate win win attitudes and an awarenes of the other party's issues are fairly low. People are not good at understanding the benefit of making things best for the other side too.

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  • 395 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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