I have never used a letting agent. I prefer to use my own discretion on the suitability of a prospective tenant. I have an elderly couple in my Brighton flat who failed the income criteria (rent was a little under half their monthly income) and they have been excellent tenants for 4 years. I couldn’t get rent guarantee insurance for them, but i took the risk myself. Is always a landlord’s choice.
It depends on the area …my London flat people are more transient.
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er no… it’s not and it never will be. That isn’t a comparison anyone should be making. 
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This is unfair as when you buy anything from a supermarket or anywhere, one has to pay fully for any products bought. The rental we provide is 12 months, ok not any more as it will be periodic with 2 months notice only from the tenants and no notice from the landlord as ban of S21. The tenants have right to leave without paying, especially foreign students. Even now there are foreign students who don’t have guarantors and do not wish to pay 6 months. I am keeping my properties empty. For working tenants, monthly rent works but otherwise, it is difficult to trust any other tenants. We need to have a database of tenants where landlords can refer to during referencing but due to GDPR this is a difficult route.
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There is also a risk that those international students will stay with friends in some proeprties and overcrowd them as it happened to my property, which was rented to a company on a rent to rent basis. The owner of that company was not bothered how many people stayed there. Within 2 months, I found out that there were more than 10 people living there and I approched the director, he turned a blind and deaf ears to that. I gave notice of 3 months but he did not pass it to his tenants. Then I gave them a written notice. Eventually they left after a stay of 10 months. The proeprty was totally destroyed and rent to rent guys could ot understand the difference between check in and check out inventory. A lot of rubbish left behind. Each one kept their bags of rice and various beans in the bedrooms so mice inhabited and cut wires so electrcain had to be called 3 times. After they left, the neighbours said there were more than 15 people living there, some working different shifts.
So if the tenants cannot find a place to rent, then they will always have friends who would be willing to let them stay in return for a rent.
So that is another problem for the landlords. The problems are going to multiply because the government do nto wish to have a discussion with the landlords.
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Question for all landlady’s and landlords - would you think it would be a good idea if tenants were able to pay for rent guarantee insurance on themselves for you?
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David did not give me that impression What he was saying made sense. A person can have cards up to the max and spend a great deal out of their earnings, even if a great salary. Not a suitable tenant for us
Makes no odds. Landlord can pay if they want. Just factored into rent.
It’s a blunt tool anyway, and has strict criteria to qualify.
I would want to deal with companies i am familiar with and have confidence in, not a random tenant provided rent guarantee scheme.
Also, what happens after year one if tenant doesn’t pay to renew.
Im not allowed to read your reply as its been hidden. Would you care to re-post in a less contentious way?
Easily overcome, simply take the first months rent in advance then make the adjustment in the next months payments, either all in one or in two tranches.
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Sell them as individual flat units if they are of a reasonable size, studios you might struggle with, then you can sell to owner occupiers instead of investors to avoid the new stamp duty on the buyer. As for the CGT, that’s up to you…
I just discovered even Paragon are willing to agree a “Sale of Parts” related to MUB’s.
Absolutely, whatever happened to common sense and market forces, not to mention control of your own investment / assets.
I seriously object to being told what I can and cannot do with my property, aside from safety and sanitary conditions. If tenants don’t like it, they can go elsewhere. If the government want to make housing available to unsuitable tenants, they should provide it!
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Why not take the rent in 2 separate payments, one pro rata for the first few days then monthly after that?
That may be what needs to happen
Ive just found out about this Bill, Ive got 4 properties and Im now going to set about getting rid of them. Im 76, Ill just retire. The game is not worth the candle anymore! Good luck to each and all.
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The whole deal is to put a sticking plaster over a gapiing wound. There is not enough accommodation for the population and this is a distraction from the main problem. Im sure Im not the only one who will sell up, The problem will only get worse.
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Whatever they’re touching are making worst for everyone. as they’re out of touch.This is true about the economy and in general.
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DON’T TAKE A DEPOSIT- Try rent g/tee insurance or a guarantor
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I dont think RGI protects against tenant damage.
Copied from another Landlord new site;
Once enacted, the Renters’ Rights Bill will amend the Tenant Fees Act 2019 to prohibit landlords or letting agents from requiring or accepting any payment of rent in advance of the tenancy being entered into.
A landlord will only be able to require up to one month’s rent (or 28 days’ rent for tenancies with rental periods of less than one month) once a tenancy agreement has been signed and before commencement.
The Renters’ Rights Bill will also amend the Housing Act 1988 to provide that, once a tenancy starts, a landlord will be unable to enforce any terms in a tenancy agreement that require rent to be paid in advance of the agreed due date.
We are a similar age (to Bill2). We had one property. Sold it as soon as we heard about this bill. So we are Landlords No More!
You and I won’t be the only ones.