Renting a property - any advice on how to avoid major pitfalls?

MawThe Merrier
You’re perfectly correct. When I was a landlord/landlady/landperson the tenant was renting from me, they paid rent. I let the flats.

MH ????
“Mean”

I’ve been puzzling over this thread title and realise OP must MH letting or renting out.

Renting and letting are like “ lend “ and “ borrow “ aren’t they?
“Can you borrow me a fiver?”

We're in a small town and have a good reputation as landlords with high standards,Consequently we usually have people waiting for property to become available .
We have 3 single people from one family all in their own one bedroom flats who have been there over 8 years without a rent rise .3 people from another family with their own children in bigger houses who haven't had rent rises in 5 years we've only ever had one dodgy tenant in the 20+ years we've been landlords.Other properties tend to be short lets to hospitality seasonal workers
We dont make a huge profit from the rent as the flats/houses were bought as a pension so when one becomes available we'll decide whether to keep it or sell it
.We used to furnish down to the last teaspoon now if anyone moves in and there are white goods that have been checked we tell them they are welcome to keep and use them but we wont be replacing them if they break down .
Currently its illegal to raise rents or to evict anyone from private lets in Scotland until July because of the Cost of living Crisis .It was the same during covid .

Make sure you understand your landlord responsibilities before you agree to anything.
I see so many times landlords complaining about tenants, especially if they want the house back, but they seem to have no idea of the law.

Using a letting agent is a good idea as they should know all the rules and law involved, but make sure you do too.

A few years ago, my daughter rented out her house as she was moving to London, I had quite a few problems getting tenants out, but they did go eventually…
I don’t think it helps when people watch these programs where bailiffs are eventually sent round when they don’t pay the rent, but even then it can take months and months to get them out and thanks to these programmes they just sit tight while the owner can lose thousands, and in some cases eventually lose their house because they cannot pay the mortgage

Those were the days when we let the flat DIY style. We took a deposit but returned it when the young man and his cat left. It was only later that we found all the cat hairs, by which time he had moved on and so had we.

Even now, though there's an agent who did background checks, safety checks, produced a brochure etc. Because I am managing the lease, I am supposed to do all inspections myself.

Didn't the deposit cover thoroughly cleaning, including pet hairs?

I paid extra deposit to pay for a "pet clean" when I moved into my house, so that I could keep my cats. As the house had been professionally cleaned before I moved in, I know that I will have to pay for another one when I move out. If I don't, it will be taken from my deposit, which is held by one of the official companies.

I've been here nearly nine years, so the landlord is expecting a total redecoration when I move out. In any case, I hoover cat hairs regularly. They've ruined my sofa, but haven't done any damage to the house.

For years we did without an agent because the flat is annexed to our main house. Now mine since I am a widow.
Over the years we have only had 3 less than perfect tenants.
A couple of chain smokers who were nice people but it was horrible.

The next was a young man who begged to be allowed to keep his kitten. When he moved out there were cat hairs everwhere .
Then another young man who worked as a gardener by day and a folk musician by night.
His DF paid his rent and when DF died our tenant went into a deep decline. He took to drink and brought a very noisy woman in . The rent stopped.
We did nothing for a few months but eventually had to tell him he had to move out as we were and are dependent on the rent to pay house bills.
Even having top of the range agents though can't guarantee an easy tenancy
Friends have an Edinburgh flat which they let through a reputable agent.
It hasn't prevented them being called out in the night to change a lightbulb or having to replace perfectly good mattresses because one fussy lady didn't sleep well.

I am very happy with my present tenant but who knows. Her DGC are coming next weekend to stay and they might be little horrors

In that case Fleurpepper you have to inform and get permission from the free holder.

I’m sure you’ve checked the lease regarding sub-letting.

As a keen gardener, I'd hate to rent a house with a garden! This is a flat, 2 beds, 2 bath, on 2nd floor in a modern block in lovely small market town.

Daisymae

If you have good quality furniture it is an even greater reason to let the property empty. Even the most careful tenant will not be as careful as you are. Plus if anything goes wrong you will be responsible for fixing or replacing.

Good quality but not particularly valuable.

JaneJudge

Would it be easier to sell?

A good question. But we have thought very seriously about it- and no, would not be good idea.

We rented for 4 years, 6-8 months each year fully furnished. Slight issues, one tenant stole few bits and one let the garden become a jungle, both were sorted and recompensed via the agent from the tenants deposits. The only things excluded from recompense were the cooker and white goods.

If you have good quality furniture it is an even greater reason to let the property empty. Even the most careful tenant will not be as careful as you are. Plus if anything goes wrong you will be responsible for fixing or replacing.

Germanshepherdsmum

Remember not only landlord’s insurance to cover non-payment of rent etc, but also landlord’s rather than owner occupier’s buildings and contents insurance.

Absolutely - sound advice.

Remember not only landlord’s insurance to cover non-payment of rent etc, but also landlord’s rather than owner occupier’s buildings and contents insurance.

dragonfly46

Yes landlord insurance is a must. Direct Line do a very good one.

I have my landlord insurance with them too and agree, they are very good. We have been very lucky in the main with our tenants and have only had one real problem tenant. She turned out to be an alcoholic who would drink until she passed out and then wet herself wherever she lay - it was so bad that we ended up having to replace not only the carpets, but also the floorboards in some areas. We ended up taking her to court. One current tenant is an older single man who has been in the flat for years and is a perfect tenant - no bother whatsoever and you would hardly know he is there.

Would it be easier to sell?

Another tale of it all going wrong - a close friend of ours, another expat, arranged for a brother in law to let and manage the N London family home.
The BiL let it all right - but he used the rental income to install his mistress in a flat, and neglected for so long to pay the mortgage, that by the time our friend realised what was going on, the house was close to repossession.
You could hardly make it up!

Granny23 When we eventually needed a cash sum (for DD's new home) we sold the flat for 3x what we had paid for it

Indeed.

Brilliant reason to keep a property as a rental, appreciates in value to be sold for deposit or mortgage payoff for AC.

Esmay, we lived abroad for 13 years and during that time let our house via an agent - corporate lets only, probably easier for us in outer SW London.

We had no trouble with tenants - German, French, Japanese - except that someone - we never did find out who - nicked all dh’s treasured Dinky Toys out of the loft! 🤬

There was quite a hefty percentage to the agent, IIRC 17.5% - who saw to all maintenance issues, and several expat friends told us we were daft, we were paying through the nose - they had let theirs to friends or family, no agent to pay.

Without exception, all of them later had trouble - either the friends or family refused to leave when they needed the house back, or they stopped paying the rent, or they trashed the place.

Yes landlord insurance is a must. Direct Line do a very good one.

Recently , I tried and failed to advise a friend not to do what I did - I let my house at a really cheap rent to my long term friend's thespian son and his friend .

What a complete disaster .

Suddenly, there was a girlfriend there as well .

His pets gnawed the new curtains and deposited faeces and food pellets everywhere .

They switched the CH off prior to going on holiday during a cold snap . And decided not to pay rent during that period !

The entire house was grubby and greasy .
It stank of frying .

Stuff in storage was being taken out and used .

When I phoned my friend up to ask if there could be an improvement and to ask the girlfriend to go .

I thought that I'd give him another chance as I'd known him since babyhood and was genuinely fond of him .

She told me to f--k off .

So now my friend ,who isn't that well is to-ing and fro-ing to her home , which is miles away and dealing with walls used as dart boards ,smashed windows and unsanctioned plumbing bills .

Please get a proper letting agent and a landlord insurance .

Good luck .