New landlord needs some advice

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    New landlord needs some advice

    Hi, I am just a new landlord who is renting our first property using openrent. I do need some advice from you.

    We had a very lovely lady to view our house. She looked love our property and wanted to take it straight away. Because she came alone (her partner was working), my husband advised her to discuss with her partner before making the decision. At night she just send the message through openrent and said they were waiting to see a couple of properties and will let me know as soon as possible. Today is the third day now, haven't heard anything from here, so does it mean she won't take our property.

    Is that true that if the people don't take the property in two days, they won't take it anyway?

    Also, how long it takes you to rent the house out. we had nearly 30 inquiries on this property in three days, and after that time it was dead. No more message, we had to reject three applicants because they failed the credit check and didn't want to offer a guarantor. Would be a good idea to stop our advertisement for a while?

    Thank everyone if you can give me any advice.

    #2
    A word of advice for using OpenRent: Serve a hard copy of the latest government how to rent guide. OpenRent will email your tenants a copy of the guide alongside your contract but they have to first consent to receiving it via email. Caused me a few issues when serving S21 as Tenants denied receiving it and consenting to receive via email. Safe the hassle and serve hard copy.

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      #3
      It maybe as you say and she does now not want it and has gone for one of the others, or she is thinking about it still, not everyone is in a hurry to move and it is a big decision. I also would not take it off the site, it can take a while to rent in some areas or the house you have could be only suitable for limited numbers of renters. Have you thought of putting with an agent on a tenant find basis only ? Some renters only look or register with agents and do not go via the web themselves.

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        #4
        Thank you, Gary, your advice will be in my mind now

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          #5
          Most likely the T's are still looking around for a cheaper/ better place, I usually insist that who ever is going to live they all come to see it, it shows that they are serious and I don't have to do 2nd viewings, some people will say that what ever they want, their partner will agree.... don't believe it. My rule is that I give them 24 hours after viewing if they don't put a holding deposit down then I reject their enquiry, as if they wanted it and liked it they wouldn't bother with other viewings. You could leave your enquiry open, as you most likely get messages from Openrent as to why your not taking the deposit etc, I would call the T's find out then reject them if there is no response after 2 days.

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            #6
            If you are inexperienced I would advise finding a good reputable high street agent, not Fxxxxxx, and place it with them on a tena t find only basis. I know some on here don't think it's such a great idea for numerous reasons, but I'm an experienced professional and know my agents well, and it means the people who apply know credit checks and references are taken up, so the dross don't apply and waste their time and yours.

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              #7
              I'd leave the advert open. When you first put an advert up you'll find there are lots of people enquiring because they're waiting for a property of your type. I use OR too and for my last property I got inundated with enquiries. Most of them were from people who couldn't afford it as they were totally reliant on benefits. One person sent the deposit to OR even before they'd viewed, so next time I'd add a sentence to say not to send a deposit until you've viewed.

              I only do a credit check after a deposit has been paid and if they fail the check I would deduct the cost of the check from the deposit then return the rest off it. This deters timewasters - and there are plenty of those!

              I got lots of sob stories, mostly from single mums reliant on benefits. There still seems to be the notion that if you get a baby and you're on your own, the world owes you a house! One girl who was pregnant thought a benefits 'income' of £5k was enough to rent my house and to live on and it took a while to get it into her head that she just didn't have enough money. Her sense of entitlement was beyond belief!

              You can pause your advert on OR if you need a bit of a breathing space and then reactivate it.

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                #8
                I so appreciate every single piece of advice given by you. My house hasn't been in the market for a very long time, which is just about 10 days. If we wanted to rent it out, we could rent it last Wednesday. This is our first ever BTL property, the neighbours are a very nice couple. we don't our tenant to cause any trouble to this beautiful resident area. I will keep updating, but thanks again.

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                  #9
                  The first 10 days or so can be overwhelming with a rush of tenant enquiries.

                  Next time I have a property to let I'll choose a date for all viewings, for me that would be when I've got the property cleaned and looking its best. Viewings would be 20 minutes apart. Anyone interested can then apply and I'd let them know in 5 days. Doing viewings this way will mean I'm not waiting at the property for 'no shows' which you'll invariably get.

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                    #10
                    She wouldn't be able to rent it straight away anyway if you carry out referencing, (which you should), as this takes a few days. I get people to complete an application form too. A lot of prospective tenants are flaky on OR. Some promise to call you and you never hear from them again, even if you try to text or ring them.

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                      #11
                      As a first time renter of houses I am using a Letting Agency. I have been a landlord of Commercial premises for 15 years, It always seems to me that using a Professional gets you a higher rent I am being charged £150.00 a month for a managed property where the rent is £1150.00 per month.

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