I can’t believe how many enquiries i’ve had that have turned out to be company lets! I even had one guy lie on my screening questions to get through to viewing which just wasted both our time. I’d say 95% have been for company let enquiries so far, its crazy! What on earth is going on? Where are all the real genuine tenants? I’m almost tempted to just let an agency find me a tenant because im getting nowhere with openrent
This is not something I have experienced. Might be a geographical thing
We listed last week and have experienced the same issue. At first I was unsure but having done some research it’s a definite “No” from me. This thread on OpenRent is worth a read if you haven;t already seen it.
Similar from my perspective, except I am getting the dregs, or utter time wasters, with no jobs lined up, or still living at home, with their parents, or desperate ones, been served a s21b by their landlords, Nigerian scammers, or people wanting to sublet, to “doctors and nurses” at the local hospital, in Hackney.
The market has certainly changed and the way Landlords are being treated is like a Labour of hatred.
Landlords are working hard.
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Due to a few unscrupulous individuals, who, for example, may have a limited company that is worth £1, so if they fold it up in the first couple of years, which a lot do, get out of paying tax/rent etc and have no money to sue them.
Guarantors, who own property in England or Wales, [no other country - as you won’t want to travel to their jurisdiction], is the utter key, especially for tenants who are self employed, students, or those starting out in their career.
You’d be surprised by the amount of serious tenants, from Australia, New Zealand etc, who can find family or friends, who can act as guarantors, when push comes to shove!
I have just commented on Thomas23 post “I had 100 applicants before I found the right one for my last property.It seems the normal now for people to lie. Do not trust anyone, stick to being vigilant, the right tenant will understand this, those that dont are not worth wasting your time.”
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I also had many of these scammers ,posing as companies that promise to give you better rent ect, they will fill your property with any scumbag, then keep the rent. You are then left with someone you cant evict and no rent.
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I have been approached by a seemingly endless number of people offering “Company Let’s”. It appears they are wanting to acquire properties to home illeagles and are offering considerably more than the requested rent to get them through the door.
Following the recent riots and hostilities I would strongly advise any landlord who may be approached with the “company let’s” offer to decline as they may be making their properties a target of protest.
The other requests I’ve been receiving are subletting the property for “assisted living” which is yet another smoke screen title to housing illeagles. The sub-letter claims it’s a three year term and would include a new bathroom and kitchen at the end of the agreement.
Considering the raft of changes and reform instigated by this Labour government all of which favour the tenant and do little to protect the interests of the Landlord it would now appear the government are wanting our help to reduce the current costs of the hospitality they are extended to immigrants.
My answer to this is simply Bog off!!!
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It is just amazing that some landlords would even consider this , attracted by promise of big bucks … It will go wrong in 90% of cases
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When I was green I did it
It had good returns but the property was trashed afterwards
I stopped doing it after attending a seminar on the pitfalls and then never entertained it again
I was lucky
Ignorance is bliss
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Hi Collin, I totally agree. We know absolutely nothing about these illegals and it does beg the question on what diligence can possibly be actioned and the longer term effect on property insurance and the outcome of placing a claim with “illegals occupation knowing how insurance companies currently feel even about DSS occupancy in a rented property.
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I have been looking for a property for two years now, I’m not getting anywhere because I’m on Housing Benefit, Universal Credit and DLA, I physically cannot work anymore, I’m 60 years old and have always paid my rent, this doesn’t seem to matter anymore though, if there are any landlords that would be willing to rent a property to me I need one very near to Southend Essex
@Lorraine9 So sorry to hear of your struggles. It really is a very difficult market at the moment, and sadly with the changes being put in place in the coming year, it’s unlikely to get easier.
The irony is that these changes are supposedly to protect tenants, but they are making it more difficult & more expensive for tenants.
Keep positive & keep trying.
Some are using the opportunity to rent out as Airbnb, especially in major cities holding sporting, concert events Anyone tempted by upfront payments should note, for apartments you most likely need permission from who your lease is with as they need to know who occupies the apartment in case of emergencies.
To avoid this, I would be clear in the advert ‘no company lets/sublets’ plus include additional questions in the vetting questionnaire. If you don’t you will likely come across people disguising themselves as standard tenants until you meet them and realise they have wasted your valuable time!