Letting Agent Questions

Topics	Statistics	Last Post
Guaranteed Rent Scheme with letting agent by hodgevaldo Started by hodgevaldo, 16-04-2018, 16:04 PM	6 responses 112 views 0 likes	Last Post by nukecad 17-04-2018, 16:10 PM
Redress scheme by bertha Started by bertha, 17-04-2018, 09:12 AM	2 responses 79 views 0 likes	Last Post by leaseholder64 17-04-2018, 11:30 AM
New agents and rights to documents. by sharplearningcurve Started by sharplearningcurve, 11-04-2018, 17:52 PM	2 responses 77 views 0 likes	Last Post by AndrewDod 11-04-2018, 22:00 PM
Agent duty of care by bertha Started by bertha, 05-04-2018, 06:37 AM	3 responses 109 views 0 likes	Last Post by jpkeates 09-04-2018, 09:32 AM
Which agent to use! by Paul Clavering Started by Paul Clavering, 05-04-2018, 13:20 PM	0 responses 72 views 0 likes	Last Post by Paul Clavering 05-04-2018, 13:20 PM
Letting/Property Management Company by spurk38 Started by spurk38, 05-04-2018, 13:17 PM	0 responses 46 views 0 likes	Last Post by spurk38 05-04-2018, 13:17 PM
Letting agent holding tenancy deposit and rent by ZIGGYVIGGY Started by ZIGGYVIGGY, 27-03-2018, 22:06 PM	11 responses 176 views 0 likes	Last Post by ZIGGYVIGGY 01-04-2018, 14:19 PM
Adding a letting agent mid tenancy + contracts by southwire Started by southwire, 30-03-2018, 08:28 AM	3 responses 62 views 0 likes	Last Post by southwire 31-03-2018, 15:22 PM
Lettings Agents! by Jennie30 Started by Jennie30, 29-03-2018, 17:19 PM	15 responses 178 views 0 likes	Last Post by Hillsy101 30-03-2018, 21:20 PM
IRPM membership - con or benefit by eastfinchleyboy Started by eastfinchleyboy, 21-03-2018, 19:57 PM	6 responses 149 views 0 likes	Last Post by jpkeates 24-03-2018, 13:28 PM

Guaranteed Rent Scheme with letting agent

hodgevaldo

First time in letting a home and I have had a person want to rent out our house who has bankruptcy notice against them.

I have stated to the letting agent that I do not want any risks in receiving my monthly income, so they have proposed there Guaranteed Rent Scheme where the letting agent...
- Channel: Letting Agent Questions
16-04-2018, 16:04 PM
Reply to Guaranteed Rent Scheme with letting agent

nukecad

For someone new to letting it's definitely not advisable.
Even experienced landlords shun such arangements as you can see from the above.

You may be lucky and have no problems, but can you afford the risk? It sounds not.

What's the worst you could imagine?
...
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17-04-2018, 16:10 PM
Reply to Guaranteed Rent Scheme with letting agent

AndrewDod

Simple summary -- never ever get involved in schemes like this. Yes there are plenty of risks - too many for any sensible landlord to entertain.
- Channel: Letting Agent Questions
17-04-2018, 12:17 PM
Redress scheme

bertha

It was my understanding all agents must belong to one of the schemes,please could some one confirm this.If they don’t belong Does it become a civil matter,or ombudsman.If you fail to agree on a dispute.
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17-04-2018, 09:12 AM
Reply to Redress scheme

leaseholder64

It's a matter for trading standards to enforce. I think the sanction is a civil penalty.
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17-04-2018, 11:30 AM
Reply to Redress scheme

theartfullodger

See Shelter's info on the schemes including council ability to fine for £5k.
https://england.shelter.org.uk/housi...edress_schemes

& also in more detail from Shelter Legal
http://england.shelter.org.uk/legal/...tions/accommod...
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17-04-2018, 10:51 AM
Reply to Guaranteed Rent Scheme with letting agent

jpkeates

So the letting agent has access to a steady stream of customers, has a revenue stream and access to legal advice, funding sources and is the first to know that property is available.

Exactly what do they need you for?

I actually think they're possibly trying to be helpful -...
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17-04-2018, 09:52 AM
Reply to Guaranteed Rent Scheme with letting agent

tatemono

am I right to read that as "I cannot afford to take any risks"? If so, perhaps letting your property isn't something you should do. It's fraught with risk and there are no guarantees. You have to be solvent enough to suck up any income disruption that you can reasonably foresee. For example,...
- Channel: Letting Agent Questions
17-04-2018, 09:34 AM
Reply to Guaranteed Rent Scheme with letting agent

hodgevaldo

Would you say its not advisable to go this route? what could happen? I am renting myself at the moment and I am in a position where I need to get rental income from the property asap.
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17-04-2018, 09:28 AM
Reply to Guaranteed Rent Scheme with letting agent

nukecad

Yes you will be letting to a company as a commercial rental, rather than to a tenant on an AST.

It's a whole different ball game.

To start with you will have no say about who is living in your property, you can't evict them because they are not your tenants, etc., etc.
...
- Channel: Letting Agent Questions
16-04-2018, 17:30 PM

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