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..

    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...


    ** - see...
    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...


    • #17

      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!


      • #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...


        • #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.


          • #20

            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.


            Latest Activity


            • Referencing question
              A couple wants to rent from me, she is on maternity leave and will not be returning to her previous employment, he is permanently employed and moving due to a job transfer. I have referenced him for the full rent and his guarantor has been successfully referenced.
              I am going to prepare the ast...
              22-07-2017, 17:19 PM
            • Claiming for protected deposit
              This is an interesting one, got me into a spin.
              Tenants signed AST but decided to leave after 6 months and 3 days (problem with moving) using the break clause in the AST. I protected the deposit using DPS (Insured) and returned the deposit minus deductions when the moved out.
              I served the...
              21-07-2017, 08:00 AM
            • Reply to Claiming for protected deposit
              I'll leave it at that. I'm not going to get into one of JPK's interminable arguments.
              22-07-2017, 16:28 PM
            • Discussion - GDPR and implications on landlords
              I've just posted something on GDPR and then wondered whether it had been discussed on here before - a quick search implies its never been mentioned.

              I thought I would raise a topic to discuss it and the implications on landlords.In effect this is a replacement of the Data Protection Act...
              20-07-2017, 15:01 PM
            • Reply to Discussion - GDPR and implications on landlords
              That's simply one of the Schedule 2 exemptions which, if met, allows a process using personal data at all - all the other principles still apply in parallel (where it can be stored, be not excessive, kept up to date etc).

              So, while it might be OK because it relates to a contract, there...
              22-07-2017, 15:22 PM
            • Excessive estate agent fees
              I have a property which I started renting out via an agency. When the contract started, they found new tenants, did the relevant checks etc and charged an upfront fee which equates to approx one month's rent. As one year has almost passed, the agent has approached me asking if I want them to 'renegotiate'...
              21-07-2017, 16:26 PM
            • Reply to Excessive estate agent fees
              A new 12 month fixed term does provide LL & T with extra security but can lead to complications for either if their resp circumstances/legislation change during the new AST.
              Personally, I would prefer if a orig AST was for a fixed 6 month term, followed by an SPT that required both LL &...
              22-07-2017, 14:09 PM
            • Reply to Discussion - GDPR and implications on landlords
              In this case there should be no problem because:...
              22-07-2017, 12:30 PM
            • Reply to Excessive estate agent fees
              I'm not sure they're "lying", they're just making some assumptions.

              The agent can't decide if something is "too" risky or not - there are upsides and downsides to having a new fixed term agreement, and they're right to point out, for example, that the income would be...
              22-07-2017, 12:28 PM
            • Reply to Discussion - GDPR and implications on landlords
              Unless the tenant has given consent for the data to be used in this way, probably.

              There's a grey area with this kind of data, because it's obviously been obtained for a purpose (which is to facilitate the renting of a property) and that's what it's being used for.
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              22-07-2017, 12:23 PM