Short let of single room- how to do it?

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    #16
    Depending on how you are doing it, 8 weeks in advance may be a protectable deposit.

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      #17
      Why not talk to the council and see if they want to take on the HMO as a whole unit? I.e. they pay a fixed rent to you and then they put who they want into the property.

      As long as they agree to put the property back into a suitable shape at the end of the agreement (and also manage all fire safety items, etc...) - it could be a way to take the rental income issue out of the equation.

      An alternative is to find a good letting agent who specialises in these types of tenants. The one I use is VERY good at sniffing out difficult tenants and has a reputation for chasing tenants for unpaid debts. So far, we have had minimal problems and the agent is very good at protecting us.

      I do have a question for you - are you taking these difficult tenants to court? If you chase these people down, then you may get a reputation for chasing debts and this might actually reduce your rental payments issue as you are willing to enforce... (i.e. current tenants more likely to pay + problem tenants may actually shy away from renting with you in the first place).

      MTG has made a v good suggestion - why not look at a different part of the rental market altogether? It sounds like you are attracting low quality tenants - why is this? can you change this by changing how you advertise? why not "do the place up" + add toys and go for a more professional market?

      Just a few thoughts...

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        #18
        Or why not (with Planning Permission) make - say- four flats (self-contained) and sell them off?
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

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          #19
          Thanks for your comments. Initially there were no problems, as most of the tenants were Polish. But since the change of ruling to give tenant HB monies, I have had so many problems, currently have 8 cases going on via small claims, which takes up a lot of time.

          Spoke this morning to Head of HB at Rugby BC, as the bad tenant phoned me last night at explained he had baliff issues and all his money was taken, and he wants his HB paid direct to me. But yet again Rugby HB simply said his money gets paid direct to him, even though I explained that the guy was in tears and extremely vunerable.

          My problem is partly the new laws, the type of tenants in the area and the fact that I was forced to move away due to so much criminal damage etc to my property and threats to myself.

          I will see if the council wish to take the propery on, but last time I tried, it was not something they said they would entertain, but does seem strange as all but 1 of the 10 are on HB.

          A lick of paint, laminate flooring and free view box have made the place a lot nicer over the past few months and actually surprised that the free view box is still there.

          I life in hope, but I think its true that once 1 bad tenant hears the Landlord is a soft option, then word will spread for an easy cash in for those that want there drug habit paid for by HB monies.

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            #20
            Rent to students via a University Accommodation Office. Insist on guarantors, a month's rent up front and a deposit of equal value.

            Do a joint tenancy agreement.
            'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

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              #21
              Originally posted by mind the gap View Post
              Do a joint tenancy agreement.
              Originally posted by rugbyroom View Post
              I have a 10 bedroom HMO
              I agree with the rest of your points MTG, but I think a joint tenancy is a bit optimistic for a 10-bedder. Crikey, for some courses that's almost half the students in one building.

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                #22
                Originally posted by Snorkerz View Post
                I agree with the rest of your points MTG, but I think a joint tenancy is a bit optimistic for a 10-bedder. Crikey, for some courses that's almost half the students in one building.
                Yes, I agree it is a bit optimistic, but 10 separate ones would be even more of a nightmare. Could they have two lots of five on two joint agreements all sharing the same accommodation? I suuspect not.

                My son and friends were about to sign up for a 13 bedroom place in Manchester...until they discovered there was no HMO licencce...
                'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

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                  #23
                  ...and I thought that >4 was too many!
                  JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                  1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                  2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                  3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                  4. *- Contact info: click on my name (blue-highlight link).

                  Comment


                    #24
                    Several separate but overlapping threads have been merged into this thread.

                    Comment

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