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Jane__G

Tenant worries- how to tip the balance to attract good future tenant?

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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 

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My advice is to buy the best house you can in the best area you can and refurb to a good standard. This should achieve a higher average rent and should also attract a decent tenant.

Then do your due diligence on your tenant - credit checks, references etc. If there are any red flags don’t rent to that person. Don’t fall for sob stories and don’t try to do someone a favour.

Once you have selected a tenant do regular inspections, keep up with repairs and encourage tenant to report problems promptly.

In short - be a good LL and hopefully you will get a good tenant! 

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On 9/23/2020 at 2:55 PM, julia urquhart said:

My advice is to buy the best house you can in the best area you can and refurb to a good standard. This should achieve a higher average rent and should also attract a decent tenant.

Then do your due diligence on your tenant - credit checks, references etc. If there are any red flags don’t rent to that person. Don’t fall for sob stories and don’t try to do someone a favour.

Once you have selected a tenant do regular inspections, keep up with repairs and encourage tenant to report problems promptly.

In short - be a good LL and hopefully you will get a good tenant! 

...agreed but i'd go further. If at all possible don't simply rely on an agent to source tenants, meet them yourself and use your gut instincts. 

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Use a letting agent, I’m actually in your area of the Uk and have used Your Move for a about 5 years now and I can’t fault them.  I do also allow pets in my two properties, so a little more rent comes in and they usually stay longer as well.  I’ve found a letting agent takes away the worry for me as I made mistakes going on my own gut instinct in the past.

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On 9/27/2020 at 8:45 AM, LLotus said:

Use a letting agent, I’m actually in your area of the Uk and have used Your Move for a about 5 years now and I can’t fault them.  I do also allow pets in my two properties, so a little more rent comes in and they usually stay longer as well.  I’ve found a letting agent takes away the worry for me as I made mistakes going on my own gut instinct in the past.

I’m interested in the pet part, I have a dog and believe that my tenants should be able to also, I’m interested in how much extra rent you can get for allowing a pet? 
 

Ive been told the standard of my rental is above the norm so I’m towards the top end of the rent anyway. I was thinking of an extra 5%/month, this then also allows a higher bond than I would also get. Staying longer is a further bonus if it eliminates a void period.

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On 10/27/2020 at 9:35 PM, giles s said:

I’m interested in the pet part, I have a dog and believe that my tenants should be able to also, I’m interested in how much extra rent you can get for allowing a pet? 
 

Ive been told the standard of my rental is above the norm so I’m towards the top end of the rent anyway. I was thinking of an extra 5%/month, this then also allows a higher bond than I would also get. Staying longer is a further bonus if it eliminates a void period.

I’m not sure what the uplift is as once I’d handed both properties over to the agent, they set the rent, one tenant is on part benefits as well, but the part benefits tenant has been great in that they never complain, they’ve been in about 5 years now with cats, the other property has never gone empty either, ... slight frustration as I wanted to correct some bits after last tenant left, but I didn’t have time as new tenants were so keen they took my small bungalow for a years tenancy without even viewing it in person.. with dogs... plus another tip the agent said the were “key workers” and therefore more than likely to stay employed I guess, so at end of the day what’s the worst animals can do? 

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11 hours ago, LLotus said:

 so at end of the day what’s the worst animals can do? 

1. Scratch brand new patio doors which can't be replaced and cost a fortune

2. Pee on the floor ruining carpe and underlay 

3. Pee on the floor and ruin laminate

4. Pee on the floor so much that it soaks into floorboards - really hard to get the small out and can cause rot

5. Chew door frames and kitchen cabinets - you can't charge for a whole new kitchen but you can't repair either

6. Poo and dig holes all around your garden infesting it with worms

7. Piss off your neighbours by barking all day

8. Leave fleas in your carpets

9. Peck holes in the wall / woodwork near their cage

And that is just for starters.......

 

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