Calculating/Limiting My Risk

[Claymore]

Nice numbers :-)

[Claymore]

This is not my only rent paying property.

I think it's best to look into the insurance scheme - it just suits me that they only want to rent for 1 to 2 years....

[Claymore]

Just a pointer, is it wise to take LTV as high as 80% with all the uncertainty with the property market at the moment? Will you be able to maintain the payments if you end up on SVR (unable to refinance due to lack of equity if we have another crash?)....

[Claymore]

Hi

My former home is up for rent. Current tenants are leaving in a couple of weeks. I have a set of prospective tenants who really want the house. On my pre-screening questionnaire, I asked the question 'do you have a good credit history'. The answer came back as No, followed by an...

[Claymore]

What? £12k per year to live off? You might be able to exist on £12k per year, but you wouldn't have much of a life....

[Claymore]

Interesting. I wonder why a 'property company' would allow such a thing? Ulterior motive?...

[Claymore]

I actually do my own referencing, I ask for payslips and bank statements - you can tell a lot from this info. I also do employment reference which confirms length of service and salary etc.

[Claymore]

Hi

What is the required minimum salary for a rent of £1650 pcm? Obviously its not just down to income....

[Claymore]

You have a valid gas safety cert. I would still get the fire sorted - if it was working when tenants took the place, it should be fixed. I hope you haven't got 'professional' tenants in. They are bound to use this as a delay tactic and probably invent other issues.

I hope you get your...

[Claymore]

It's quite frustrating reading this post.

You are wasting your money with the dehumidifier, your tenants wont use it properly because of the increase on the electricity. You are banging your head against a brick wall with these tenants.They can't afford to or are choosing not to heat...

[Claymore]

....ditto!!!...

[Claymore]

Gutted, I've missed this - how annoying!!...

[Claymore]

Hi Boletus

I stuck with Upad and the cheapest option was £149.00 - peeved if I did my advertising wrong. I got £20 discount as I'm a member of NLA. So far, I've had two enquiries (which I'm surprised at for this time of year). I suspect both enquiries are people who want my house but...

[Claymore]

Its a bit of a pain. A bit annoying that they said they wanted to keep the rental property on for 6 weeks after they complete so the earliest they would be gone was end of January.

I can't imagine anyone considering moving in December or January. This will be a first time experience...

[Claymore]

Avoid starting tenancy agreements on 25th of the month. But more importantly don't be nice to your tenants and allow them to roll over onto a periodic tenancy (even though they have been sweet by telling you they are buying a house and promise they will give you at least two months notice of their...

[Claymore]

Hi

My preferred Portal has generally been Upad for finding new tenants (SE London area).

Have just discovered Upad's fees have shot right up and their minimum fee is £149. Quite a jump from £99.

Any recommendations for alterntive advertising?

Many...