Letting Agent Flat checks

[crinkleshoes]

Personally, I think it's more likely just a result of people elsewhere having more respect for other people's property than we do here, so no one feels the need to check in because the tenants aren't as likely to be destroying the place.

Given that you often need references and credit checks... both will quickly flag up a bad tenant.

I imagine the percentage of tenants who wreck houses, especially to a value in excess of their deposit, must be incredibly low.

 

[crinkleshoes]

Indeed. I'm sure landlords have other things to do other than checking on their property and pestering tenants if they knew they were going to be ok.

I think it's more likely to be agencies needing something to do to help justify their fee...

 

[Chris Wilson]

You tend to (as a generalisation) get better tenants in the more expensive properties, but of course if you get a dud, none payer, or abuser you stand to lose a LOT of dosh! Over here many of the grander rented properties are paid for by the occupier's company, which gives some better security as to the rent coming in.

 

[Scam]

I imagine the percentage of tenants who wreck houses, especially to a value in excess of their deposit, must be incredibly low.

This. The proportion of bad landlords to good far, far outweigh bad tenants.

Shelter: Can’t complain: why poor conditions prevail in private rented homes - You don't even have to get past the executive summary on some real research to see what the problems are. Yet landlords are always "boohoo woe is me.. having to put up with the risk of bad tenants on my investment"

Homes in the private rented sector are worse than in any other tenure. A third fail to meet the government’s Decent Homes Standard1, and over six in ten renters (61 per cent) have experienced at least one of the following problems in the past 12 months: damp, mould, leaking roofs or windows, electrical hazards, animal infestation and gas leaks.2

I think it's more likely to be agencies needing something to do to help justify their fee...

This too. Thank god this will be going (eventually). Hopefully leads a few scum-sucking agencies to shut up shop.

 

[Vanilla]

It's also a bit of a stretch calling it their (landlord) investment, often.

What they are doing is getting other people (the tenant) to pay for their investment for them... living off the lives of others is never a great thing.

Well either it is an investment or it's not? Everyone lives off someone.

You sell yourself to that company for a fixed salary, the butcher lives off you, the postman lives off your existence, etc. Our whole word is living off someone else.

Being a landlord is not a lucrative way to earn, most are on interest only mortgages and any sale of property is subject to tax on profit.

 

[Vanilla]

This. The proportion of bad landlords to good far, far outweigh bad tenants.

Shelter: Can’t complain: why poor conditions prevail in private rented homes - You don't even have to get past the executive summary on some real research to see what the problems are. Yet landlords are always "boohoo woe is me.. having to put up with the risk of bad tenants on my investment"

This too. Thank god this will be going (eventually). Hopefully leads a few scum-sucking agencies to shut up shop.

I totally agree. Winston Churchill said it very well;

And this is exactly the problem with landlordism. Profit over everything else

From a speech in 1909 when landlords owned entire areas, if a rolleyes is ever needed it's now

Compare that to today when your landlord can be a mechanic - as is the landlord of my property next door. Full time landlords are a rare breed and getting even rarer with Brexit and the tax perks disappearing.

Best not to try and turn it into a social justice rant when society has come a long way since a speech in over 100 years old. World War 1 hadn't even started.

 

[Vanilla]

I have always find tenants who later become landlords themselves change their perceptions on the rental market

I find that people who have rented and finally own a house change their whole perspective on this* - not just those that become a landlord. You realise just how valuable a house is when you're the one with the debt.

*EDIT: An then you get the ultimate leeching tenants that pay no rent - KIDS.

To a renter it's £xxx per month, to the landlord it could be their whole pension.

 

[Vanilla]

A comment on 'They don't do this anywhere else'

I lived in the US for a year and I had this.

I lived in Australia for two years and I had this.

In Italy they do this.

That's just off the top of my head.

 

[Scam]

You sell yourself to that company for a fixed salary, the butcher lives off you, the postman lives off your existence, etc. Our whole word is living off someone else.

It's hardly the same. The butchers and postman's salary is paid via their employer who turns cashflow into profit depending on a whole bunch of other things. BTL means a tenant is almost directly responsible for an amateur landlord's investment. Hence why there's so many disagreements. And hence why BTL is a terrible idea.

From a speech in 1909 when landlords owned entire areas, if a rolleyes is ever needed it's now

Compare that to today when your landlord can be a mechanic - as is the landlord of my property next door. Full time landlords are a rare breed and getting even rarer with Brexit and the tax perks disappearing.

Again, that's exactly the problem. Most issues arise as I said above with amateur landlords that invest their life savings into a property where they feel that they deserve for it's value to rise incessantly, all the while a tenant is paying off their mortgage. BTL and the private rented sector is demonstrably terrible for social equality. I am fortunate enough to find myself with £35k for a deposit, hello mister bank manager please lend me £250k and I'll have someone else pay it off for me. What a brilliant idea. What could go wrong And if you think vast swathes of the country aren't still owned by the rich elite then you're sadly mistaken. Not heard of the Grosvenor estate or the Cadogan estate? That's only in central London.

That speech may have been written in 1909 but he makes a brilliant point which still stands. My landlords bought the flat they rent to us 10-11 years ago for £280k, it's now worth probably £650k. That's not unusual in London but what have they physically done to deserve that? It's all about Crossrail, other improvements going into the local community etc. All paid for by our taxes, yet as the quote says they sit back and watch their investment grow and grow through absolutely no doing of theirs.

To a renter it's £xxx per month, to the landlord it could be their whole pension.

Again. That's the problem. Where does it say in the rules of property investment that you are guaranteed a profit at the end of it? Amateur landlords are the most entitled of the lot, thinking they deserve to have their mortgage paid off by someone else and that they deserve their property's value to rise forever upwards. If you want to treat property as an investment then you should be prepared for that to go down as well as up.

And by the way, I have no issue with a landlord wanting to inspect their property once a year, or so. But they should follow the rules of law and their contract and accept -- and respect the fact that they are a providing someone with a home to call their own.

 

[Vanilla]

It's hardly the same. The butchers and postman's salary is paid via their employer who turns cashflow into profit depending on a whole bunch of other things. BTL means a tenant is almost directly responsible for an amateur landlord's investment. Hence why there's so many disagreements. And hence why BTL is a terrible idea.

It’s an example of how everyone makes money off someone. Your work goes into a company that makes a profit and goes straight to the owners/dividends. You exist to make someone a profit and that goes towards other investments or their own pocket.


There will always be landlords and there will always be renters.

Again, that's exactly the problem. Most issues arise as I said above with amateur landlords that invest their life savings into a property where they feel that they deserve for it's value to rise incessantly, all the while a tenant is paying off their mortgage. BTL and the private rented sector is demonstrably terrible for social equality. I am fortunate enough to find myself with £35k for a deposit, hello mister bank manager please lend me £250k and I'll have someone else pay it off for me. What a brilliant idea. What could go wrong

And if you think vast swathes of the country aren't still owned by the rich elite then you're sadly mistaken. Not heard of the Grosvenor estate or the Cadogan estate? That's only in central London.


That speech may have been written in 1909 but he makes a brilliant point which still stands. My landlords bought the flat they rent to us 10-11 years ago for £280k, it's now worth probably £650k. That's not unusual in London but what have they physically done to deserve that? It's all about Crossrail, other improvements going into the local community etc. All paid for by our taxes, yet as the quote says they sit back and watch their investment grow and grow through absolutely no doing of theirs.

If most issues arise with amateur landlords then that speech has nothing to do with your point. The fact that we have ‘amateur’ landlords these days shows how far from your point the speech is.


Your argument seems to be about deserving. Maybe they worked their whole life and saved to deserve a house. Maybe they are renting themselves while letting the house out.

Again. That's the problem. Where does it say in the rules of property investment that you are guaranteed a profit at the end of it?

Amateur landlords are the most entitled of the lot, thinking they deserve to have their mortgage paid off by someone else and that they deserve their property's value to rise forever upwards. If you want to treat property as an investment then you should be prepared for that to go down as well as up.


And by the way, I have no issue with a landlord wanting to inspect their property once a year, or so. But they should follow the rules of law and their contract and accept -- and respect the fact that they are a providing someone with a home to call their own.

Again, seems to be all about ‘deserving’.

To put it bluntly, If anyone is acting entitled, bitter and going on about the have and have nots it’s yourself!

The UK seems to be the only country where people resent any form of success.

 

[LeeUK]

If you are concerned that the landlord or letting agent will let themselves in willy nilly, then change the lock. If you do, keep a hold of the old lock ready to put back when you do end the tenancy.

 

[MassiveJim]

If you are concerned that the landlord or letting agent will let themselves in willy nilly, then change the lock. If you do, keep a hold of the old lock ready to put back when you do end the tenancy.

this is good the best advice IMO

 

[Scam]

To put it bluntly, If anyone is acting entitled, bitter and going on about the have and have nots it’s yourself!

The UK seems to be the only country where people resent any form of success.

So the babyboomers who got free further education, cheap housing, great pension schemes.. and now make a small fortune on said cheap housing are ok.. but somebody in my position who just points out that most of that stuff simply isn't attainable is entitled? Sure...

And by the way, owning a home does not equal success, especially as back in the day before the housing crisis you could spit and you'd get a mortgage. For merely 3 times your salary. With a tiny deposit. Do you think the fact that the average age of a FTB is over 37 years old, is some sort of accident? The statistics say it all.

 

[Vanilla]

So the babyboomers who got free further education, cheap housing, great pension schemes.. and now make a small fortune on said cheap housing are ok.. but somebody in my position who just points out that most of that stuff simply isn't attainable is entitled? Sure...

And by the way, owning a home does not equal success, especially as back in the day before the housing crisis you could spit and you'd get a mortgage. For merely 3 times your salary. With a tiny deposit. Do you think the fact that the average age of a FTB is over 37 years old, is some sort of accident? The statistics say it all.

You just seem to be ranting on without any real point or direction tbh. I don't even know what this even has to do with the topic anymore.

There are tens of reasons why things are in the current situation and it's not all BTL landlords at all - https://www.independent.co.uk/prope...s-to-blame-and-how-can-we-fix-it-9113329.html