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Found 18 results

  1. Hello, Have any landlords that are not living in the location of their properties figured out ways of preventing tenants subletting? Before or if anyone comes back with management companies. Asking a management company is pretty useless, because they always provide notification before they arrive and tenants can always be present for just the day of the inspection and because they have so many properties their check do not tend to be thorough. Are there other services that offer decent solutions to this problem bar getting a costly private investigator to monitor things. Thanks. J
  2. Hi, I’m looking for advice or a general discussion on how to help tip the balance towards attracting good tenants in the future? The current climate is full of uncertainty for many people: job security, being able and available to work through COVID, etc. The suspension on evictions is challenging for investors if they’re unfortunate to have struggling tenants. When eventually lifted there may be an increase the number of higher risk tenants looking for new places to live. What are the tools and techniques available to landlords to help tip the balance towards reliable tenants? What do you currently use? Thank you
  3. As a property investor (I'm not a landlord): For example, I found a BMV property, then apply for planning permission to convert into an HMO property depending how many bedrooms and use the bridging finance to refurb it, then use the property to rent it out to potential tenants if that makes sense. This is a buy to let. Someone mentioned that property management/ Rent2Rent is a trading business. Which of these codes are applicable? It is really confusing. SIC codes SIC code 68100 is for the buying and selling of own real estate; so, if you’re going to be flipping and trading, this would be the code for you. SIC code 68209 is for the letting and operating of own or leased real estate. In other words, for buying and holding property and renting it out. SIC code 68320 is for the management of real estate on a fee or contract basis. So, for example if you’re going to set up your own management company, then this would be the right classification for you. (As an aside, if you’re going to manage properties for other people or third parties, you should definitely do this in a separate company, and for tax efficiency purposes, you may also consider managing your own properties for yourself but through a separate company). SIC code 68310 is for real estate agencies. In other words, if you’re going to do deal packaging, i.e. if you’re going to source properties for other people.
  4. Hi, My tenants are coming to the end of their 6 month contract in my house and stated that they would like to sign a new 12 month contract or anktger 6 month contract, rather than remaining on a rolling/month to month agreement. They have reported to the estate agents that they are very settled and would like the security of a longer contract. What are the advantages and disadvantages, from my point of view, in offering them a fixed term contract rather than keeping them on a rolling contract? I have no plans to replace them, nor have I plans to up their rent in the next 12 months but, from my understanding, if problems arise (not paying rent) it will be easier for me to evict them in a monthly contract. Surely there are fees involved in writing up a contract? If security is the only thing the require maybe I could just reassure the Tennant's of my plans of no change? Thanks in advance Paul
  5. Hi all We're looking for people to share their stories of lettings disasters for an upcoming feature in The Property Hub magazine. Whilst we all want the world of property to be smooth sailing, sometimes that just isn't the case. If you've experienced a time when letting has gone wrong, we 'd love to chat to you. Could you please email your details to hello@thepropertyhub.net along with: A few words of what the issue was What you did to resolve it Thanks
  6. Hi everyone. Sorry about the newbie questions! I want to purchase my first HMO but have read some conflicting responses. I intend to buy a 4 bed property in Liverpool. When I have researched HMOs the main point was to have a property close to the city centre. Now does this property have to be in a nice 'well to do' area? Young professionals are my intended tenants. How do you price per room? 2 rooms are double and 2 are single. All advice on HMOs is greatly appreciated. Thank you!
  7. Hello Hubbers I am thinking about investing in this new property portal for young professional renters ... would be good to see if anyone has used it? https://www.movebubble.com Cheers Job
  8. Hi All, I am facing a situation and I am not sure what to do. I have had some great tenants in my property for the last five years. They are a couple with a little girl of 4 who has just started school in the areas. They have recently informed me that they are splitting up. The guy is leaving the property and renting somewhere else close by. The woman wants to stay in the property. She has recently asked for a meeting to discuss the situation. She wants to discuss a new contract but she has suggested that she will have to apply for benefits as she may not be able to afford the whole rent on her own. I am not really sure what to do here. They have been great tenants for the last five years, they recently signed a new AST (in September). Any help and advice on what I should do would be much appreciated. Thanks, J
  9. Hi Hubbers, I have an interesting situation for you, and would love to hear your advice. I had tenants move out abruptly last month with a few hundred pounds rent in arrears (long story, I was trying to give them time to catch up/be an understanding landlord etc. etc.) They told me that they had lost their jobs and had moved abroad with family temporarily, and they would 'try' to start paying back the outstanding rent when they're back in 1-2 month's time.However, I found on their Facebook profile posts from the last 2 weeks of them saying things along the lines of 'back in [place in UK]', 'starting my new job tomorrow' and 'new flat viewing tomorrow, fingers crossed!'. The posts are public and available for anyone to see. So my questions are: 1) Is it 'legal' for me to look at their public Facebook posts? and use the information to contact them with something like 'I know you have a job now' and to demand the outstanding rent. 2) If I know where they work, is it 'legal' for me to contact them through their work phone number/address? I know they work at a restaurant/bar and they are not picking up their personal phone or answering texts. 3) Have you had any experience with issuing CCJs to tenants with rent arrears? How long did it take/how much did it cost/did it work? *My use of the word 'legal' above means: is it against the law and/or would I get in trouble, or can it be used against me in the future. Things to consider: —They have never been very reliable with payments, so I can't trust them to pay if I wait for the 1-2 months they're suggesting. —If I know they're flat hunting at the moment, I'm considering asking for the outstanding rent now, before they rack up any more bills, and while the pressure from me potentially issuing a CCJ could be more persuasive as it could stop them getting a new flat. What do you think? What's the best way to go about this? Any thoughts would be appreciated, thanks!
  10. Hi everyone. I am new to the forum and am seeking some advice from others who have been unfortunate enough to go through a similar experience as the one that I am having to deal with now. To provide a bit of background: I help my parents manage their property, which was let on a new AST to a family with 2 children starting end of Dec 2016. The tenants were current with rent the first 3 months, then several weeks late with rent the following 2 months and, as at today, owe my parents 5 months' rent. The tenants have lied about their financial affairs throughout, been evasive and non-contactable when our agents have tried to contact them and to compound it all, we found out by chance at the beginning of August (when there was already 3 months' rent outstanding) that both the husband and the wife had been declared bankrupt by another creditor. Our solicitor served a s.8 notice on the tenants when there was 2 months' rent outstanding and as this was still the case at the court hearing on 31 August, the judge granted my parents a possession order for the tenants to vacate the property by 15 September. The tenants did not attend the court hearing but we did and we notified the tenants, through our managing agent, of the judge's order. Due to the court's backlog, the court order was not issued and received by the tenants until 16 September, which is slightly ridiculous as this was the day after the tenants were meant to have vacated the property! Our solicitor did not receive a copy of the court order until 18 September. We applied for a bailiff appointment date on 18 September as the tenants had not vacated the property as required by the court order. However, on 19 September, our solicitor was informed by the court that the tenants had applied to extend the possession date on the basis that they had not been able to arrange alternative accommodation yet, did not received the court order until 16 September and had 2 children. Our solicitor submitted a letter of objection with various grounds on which we were opposing the tenants' application ahead of the second hearing on 28 September. At the second hearing, the judge unfortunately granted a conditional order, which was that the possession date would be extended to 12 October on the basis that the tenants pay a daily occupational charge commencing from the day after the date of the conditional order until the day the tenants actually vacate the property. To date, the tenants have not paid a single penny of the daily occupational charge. Our solicitor notified the court at the start of this week that the tenants had breached the terms of conditional order and we would like to make a bailiff appointment date but was told by a court clerk that the bailiff for the area was on annual leave until 13 October and no appointments could be made until his return as he was the sole bailiff. I find this completely farcical as my parents are now left without recourse and the tenants are making a mockery of the legal system and the conditional order, particularly as we have done everything by the book. We are going to be filing a complaint with the court but our solicitor has said there is nothing else we can do. Does anyone have any useful suggestions on how else we can expedite the eviction process? Any feedback based on similar experiences would also be welcome. Thank you.
  11. Hi everyone, My name is Grace, I'm a TV Researcher at a company called Boundless Productions. We are making a new BBC One series about landlords and today's rental market and have filmed 3 episodes and have been commissioned to make another 2. I am hoping that people will be willing to chat to me about their experiences as landlords from when they first got involved in property up to the present day. The outline of the programme is as follows: We are looking for successful landlords with different stories and reasons to want to get to know their tenants and properties better and they will do this via a social experiment of spending a week as one of their tenants. It's important that the landlords go on a personal journey and are genuinely interested in finding out what it's like to be a tenant in today's market and we are looking out for interesting stories to justify a landlord moving into their rental property for a week. So that might be, for example, wanting to explore how their own lives and expectations have changed from when they were a renter, it might be that their business has grown to such a degree that they feel removed from their tenants and properties and would like the opportunity to go 'back to the floor'. The aim of the programme is a journey which will allows landlords to improve their knowledge of today's rental market - and their own properties - by experiencing them first-hand as a tenant. It is also an opportunity for the landlords to explore and reflect on how the rental market is changing in Britain and what challenges come with that - for both landlords and tenants. We are fast becoming a nation of renters and this is an interesting (and hopefully fun!) way of exploring the rental market. How is the market changing? How are tenants' demands changing? Do expectations and demands rise with prices? If anyone is interested and wants to have a non obligation chat then please feel free to drop me an email at grace.hetherington@boundlessproductions.tv Thanks for reading Grace
  12. So a new piece of legislation determines that tenants can make improvements to your property if it makes your property more energy efficient. Sounds like the stuff of fairytales really, but have any of your tenants actually requested to make such improvements at their own expense?? It's one thing to offer to slap on a new coat of magnolia, but quite another to propose replacing an old boiler! Still, it's definitely worth noting that from 2018 it becomes illegal to re-let a property that has an energy efficiency rating of less than E, and Landlords with existing tenants living in a property with a rating of less than F will have to make suitable improvements by 2020. Do any of your properties fall into these categories? If so, you'd better plan ahead now.
  13. Hi, I am about to complete on my first BTL property which i have managed to purchase around BMV (around £26k under). I will be looking to refinance after 6months to release my deposit, but, my qu is: should i try and add value to the property before refinancing, or as i have bought BMV, is that enough to pull out all of my deposit money after a refinance? The property is already tenanted, and is in reasonable condition. Plus, i don't really want to disturb the tenants too much as they are reliable and have even signed for a 2yr AST. Thanks! I look forward to the replies! Lee
  14. Hello, I've recently discovered Roomster on (or linked to) Facebook. Do you use it? Is it any good? When I had a quick look I was not overly impressed. Maybe my area is too remote. If anyone is using Rooster with any success can you please let me know how you use it and how many enquiries you expect to get from it when advertising a room/flat. I think there are different levels to the account that you can pay into. I've only seen the free entry level. So if you have a higher paid for level I would appreciate your thoughts on the benefits. Thanks Roxane
  15. Hi all. Sorry for the length of this and thanks in advance for reading - please excuse the grammer/spelling, I am writing this on my phone. I recently purchased a property at auction that was already tenanted. The legal pack contained an AST for 12 months from April 2015 with the tenants name and landlords names blanked out (a common occurrence in auction sales I am led to believe). I wanted to purchase the property due to it already being tenanted and yielding an income. When I viewed the property prior to auction I knocked on the door to view and it seemed the tenants weren't in. I proceeded anyway due to knowing what these properties are like inside (I own one already that backs onto this one) and, it had recently been renovated, the proof being; the auction catalogue spiel said so, the new electrical installation cert, new boiler and radiator installation receipt and double glazed window receipts, that were all included in the legal pack. The trouble I am having is that on completion I was not provide with the original AST or even an copy without the names blanked out. When I queried the solicitor as to whether they had a copy, they replied, No we didn't receive it from the vendor. Therefore I do not have any details about the tenant - not even their name. On completion i served the tenant with a Section 48 notice of the Landlord and Tenant Act 1987, telling the tenant who I was and my address along with a letter from me introducing myself and telling them to now pay their rent to me. The notice and a letter were sent recorded delivery but the tenants weren't in and they haven't collected the letter from royal mail as of yet, almost 2 weeks later. I have not been to the property yet as it is not close to where I live, however I will be making a trip up this weekend. My question is, should the solicitors have allowed me to complete even though they hadn't received originals of the AST? As it was part of the legal pack, be it a redacted copy, I thought it would have formed part of the contract and they should have had it before completing? I am beginning to think that there are no tenants at the property at all and the AST was fabricated to make the property look more attractive at auction. I will hopefully know tomorrow when I visit but was hoping for some advise and maybe some suggestions before then. Thanks
  16. Hi Everyone, My names Emma, I have been working in the private rental sector for 5 years and I have experience in all aspects of the letting industry. My current role is as the General Manager for a leading letting agency operating out of franchises in both Peterborough and Cambridge. The focus of my role is overseeing the day to day operations of the business, business development, future planning and to help new and existing clients to build and improve their property portfolios. I am passionate about all aspects of the letting industry, but especially buy to let and helping clients, family, friends and acquaintances select properties and find a property solution that will maximise their investment. I completed a level 4 diploma in Residential Lettings and Property Management a couple of years ago and I am currently working towards Associate membership of RICs and joining ARLA at fellow grade. I've joined the Property Hub to get involved in discussions, share knowledge, learn some new things and hopefully help others to with their property portfolios. I hope to speak to you soon Emma
  17. Hi all, I have a friend who I've been helping with doing up his first BTL and he has said he would be happy for me to manage it/get tenants in etc. The only experience I've had of doing this is for my dad where obviously there has been no contract/agreement between me and my dad so I marketed his property and was with him whilst we vetted tenants etc. How would I go about doing this for a friend and would It be best to charge a percentage of the rent or a certain amount every month? All advice from basics to more advanced info is welcome as I would like to do this properly and provide a good/fair service for my friend. Thanks Lisa
  18. I have recently purchased my first hmo property. It was fully tenanted when I took it over. One of the rooms has become vacant and I need to prepare the tenancy agreement. Can I use the NLA tenancy agreement that they provide to their members? Or do I need to have a HMO specific agreement? I think I saw a hmo agreement available online to purchase. I would really appreciate advice on this. Also are there any inventory apps with photos that anyone could recommend? Thanks Roxane
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