Problem of Leak

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Problem of Leak

    One of my rental properties has had a leak and caused damage to various rooms. My insurance company has agreed to pay me for the repairs but my tenants are complaining about the inconvenience and want a reduction in rent. I really like my tenants and don't want to lose them but I don't want to lose out on rental income as I rely on this to pay my mortgage. Does anyone have advise on this?

    #2
    If you can't afford to reduce the rent, you can't reduce it.
    So say no to a reduction - there's not a whole lot they can do about it.

    If they owned the property, the inconvenience would be the same and no one would compensate them.

    I don't blame them for asking, but if it's not possible it's not possible.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

    Comment


      #3
      I think it depends how inconvenienced the tenants really are. If, for example there are now rooms that are largely unusable then I think you should give them a rent reduction. If its mainly cosmetic damage then probably not as long as you don't drag your feet over the repairs. If you are really operating that close to the margins of financial viability then I think you have a bigger problem. What happens if they go and you have a void period? What happens when the mortgage rates eventually go up?

      Comment

      Latest Activity

      Collapse

      • Reply to Epc
        by mariner
        Not quite. The LL can apply to Court for Right of Access & ask Court to apply costs against T.
        29-03-2020, 02:10 AM
      • Epc
        by lavy
        Hi, Wondered if someone could clarify I have property with existing tenants in place long term and the epc has expired but was in force when they moved in . I am aware that it would need to be renewed if a new tenant was to move in . With the new rules coming into force soon must i get an epc done...
        11-02-2020, 12:28 PM
      • Reply to No EPC
        by mariner
        I think you need a valid EPC before the Property can be advertised for sale/rent, but not for an eviction.
        29-03-2020, 01:30 AM
      • No EPC
        by Onepropertypeter
        I have a single property which I have owned since 1998. I currently have had the same tennent for about 10 years. When she began the tennency there was no requirement to have an epc and I was unaware that I needed one! I have decided to sell the property as I am now 70 years old and want the capital....
        28-03-2020, 16:16 PM
      • Reply to Epc
        by flyingfreehold
        Not quite correct. If the tenant refuses upgrades, which is his/her right this is a ground to apply for exemption...
        28-03-2020, 22:15 PM
      • Reply to Asking for 35% off rent
        by AndrewDod
        This is not likely to be valid or easy employed. It does not sound like a deed. What witnesses were there? How many witnesses and who were they? Do you have proof of ID for the Guarantor and witnesses?

        But yes, they are most likely chancers using the law to try to diddle you.
        ...
        28-03-2020, 21:15 PM
      • Asking for 35% off rent
        by Lillylisa
        Hi. I am a fairly new landlord and I only own one property. About a month ago I reached out to my tenants asking if they were okay and if they wanted to get in contact with me please do. Three days later they contacted me to ask for a massive reduction in the rent asking for 35% off. I have no issues...
        28-03-2020, 16:20 PM
      • Reply to Asking for 35% off rent
        by Snorkerz
        Then unfortunately, you will have difficulty enforcing the guarantee (unless your guarantor is named as a tenant or the tenancy agreement is executed as a deed). The reason for that is because

        With your tenancy agreement
        • You give the tenants a tenancy, they give you rent (consideration)
        • Guarantor
        ...
        28-03-2020, 21:13 PM
      • Reply to Asking for 35% off rent
        by Lillylisa
        Ps I’m unable to edit the original. Sorry so long winded. I have a visual impairment & have to use voice dictation. It’s awful!...
        28-03-2020, 21:06 PM
      • Reply to Asking for 35% off rent
        by Lillylisa
        To be clear: the guarantor signed the contract which has a section called The Guarantor which clearly lays out his/her legal liabilities. In this case, he is liable for all the rent not just for his nephews. I’m sure they would not want this to fall to him. They have been very good tenants so far....
        28-03-2020, 21:02 PM
      Working...
      X