Being a Landlord

[TimGR]

Use a letting agent,,at least you get your money even if the tennant wont or dont pay

Not true.

But I do use a letting agent - they will take around 15% but if you find a good one they are worth it by relieving you from all the hassle.

Don't forget the income is taxable.

Seems from the above that a number of people off ths bb do letting....

[hally]

all depends on tennent i asked for a huge bond and up too now the house is very well looked after!!!!!!!

[Frosticles]

i have one i rent out jason, the best thing we do is pay a agent 8% of the rent! he credit checks police checks etc etc he does 1/4 inspections and best of all garantees me the rent even if they stop paying!!!! when it comes a time you want to sell it be carefull you will have to pay capital gains, the way round it is move into for a minium of 6 months prying to selling it!

With Wayne on this. We have full management on ours. No worries and guaranteed rent. Had our Tennants in for nearly 5 years now and no problems. Good for peace of mind.

[taffr]

Use a letting agent,,at least you get your money even if the tennant wont or dont pay

not true at all that, they just take your money for nowt, if the tennant does not pay there is nothing they can do, its happened to me twice with two well known letting agants, do it myself now, strike up a good relationship with your tennant and keep them sweet, do all the job's that come up right away with no messing, you need a good plumbing and electrical contact you can rely on at a moments notice, i even send my tennants a chrimbo hamper and don't take the pith with the rental price either, you want to make them want to stay with you, treat them well and they will respect your property, of course there are some tossers out there too, luck of the draw i guess, good luck son, when its good its great, when its bad its a nightmare

[Chesney]

CHESNEY

mr custom, you been speaking to steptoe and son

[paul spence]

i would drink the profits son

[hally]

The best bit is the profits son!!!!!!!!

[Frosticles]

The best bit is the profits son!!!!!!!!

ours made sod all this year. Had to have, New perimeter fence, New Boiler, New washing machine & Dish washer, New Carpet in living room, New built in microwave.
Not the best of years!

[Mexico Jon]

Hi There

I used to have a second flat that i rented out, i used a rental agency 10% a month they charged me, normal in Aberdeen. The problem that i had with them was they took the money from the tenant on the 6th of every month i would'nt see it till 14th of every month. Over a year they could make 12 weeks interest off my money, so be careful what company that you use.

Ask questions.
1. what percentage they will take per month.

2. what date the tenant will pay them, when you will receive your money.

Also get a good Accountant, any work you do on the house/flat (rental agency) will be tax deductable. KEEP RECEIPTS!!

Cheers Jon

[Chesney]

ours made sod all this year. Had to have, New perimeter fence, New Boiler, New washing machine & Dish washer, New Carpet in living room, New built in microwave.
Not the best of years!

good job you minted son!!!!

i didn't want them managing it for me as I am capable of doing most things and know enough tradesmen to do the things i can't. Don't expect to get rich of this but seems the most sensible option at the mo. Seems if I can keep the guy happy my problems should be minimal.

[Frosticles]

good job you minted son!!!!

i didn't want them managing it for me as I am capable of doing most things and know enough tradesmen to do the things i can't. Don't expect to get rich of this but seems the most sensible option at the mo. Seems if I can keep the guy happy my problems should be minimal.

oh Mr Naive.

[hally]

ches you can still have full managemnt through a agent but ask them to call you before any repairs as you may know the required tradesman! mine are fully managed but if they have a problem they call me first! they had a water leak last month so they rang me and my plumber mate went and sorted it!

[paul spence]

hally.you forgot the patio doors!!!

[Frosticles]

If you have never been a landlord before, Go full management and see how you get on

[hally]

that was on one of my other houses son!