How Bad Is This Inventory?

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    #16
    Physicsman: Welcome to LLZ!!

    How refreshing to see someone asking questions BEFORE they start - I wish I had it would have saved me ££££!!!

    Join a LL assoc & do one of their courses, chances are it will save you more than it costs..
    http://www.rla.org.uk/landlord/courses/course1.shtml

    If taking pics ask tenant's permission (it is their home, their property**, merely your investment...)..

    In your shoes at first meeting I'd take bottle-of-wine/flowers & just say hello., not do inspection then, .. they will likely feel nervous & meeting a half-human LL may be a refreshing surprise...

    Cheers!!

    ** - see...
    http://www.landlordlawblog.co.uk/201...its-still-his/
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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      #17
      theartfullodger:

      Thank you! I'm taking this seriously so have bought several books and am reading my way through them. Have applied to join the NLA/RLA. I want to ensure I meet all my duties and responsibilities to the tenant.

      I mean, I've seen it said that being a landlord is a business and the tenant is your customer. In business you have to treat your customer well (within reason) to keep them happy and yourself in business and profit.

      So I'm reading here and other property forums etc to make sure I maintain a good relationship.

      I'm hoping I have a good tenant and that I don't even get a dispute when they leave! So all of this thread is just a pre-caution risk assessment to see if it is worth while to go ahead and exchange contracts!

      Love your suggestion of the wine/gift on first meeting. I'll definitely do it that way! Thanks again!

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        #18
        Wow!! You'll be fine, great!!
        I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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          #19
          As theartfullogder says, it is nice to see someone going into something thoroughly before committing themselves. However, there is the danger of going into too much detail and frightening yourself unnecessarily. It is important to bear in mind that having perfect documentation, though desirable, does not guarantee that much and, equally, that imperfect documentation is by means fatal. The all important question is whether you will get a good tenant and whether he will stay good. The first part is not easy to assess and the second nearly impossible. There is inevitably going to be a degree of risk. Further, if you decide to withdraw from this deal, the chances are that the next one will throw up similar problems.

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            #20
            Lawcruncher:

            Agreed. There is usually an element of risk in most things. I'm leaning towards going ahead with exchange and then completion. Will think and assess over the weekend and decide on Monday.

            I appreciate your input and everybody else who replied! Thank you all.

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