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  • RENTING OUT PROPERTY

    Hi all



    Seriously thinking - if they don't go we may have to. It will be difficult, if not impossible, to sell, for obvious reasons but we can't carry on as we are - it's all getting too much, especially for our eldest daughter.



    If we rented our property out through an agency, or even privately, would we have to declare nfh problems, especially the noise and EHO issues?



    Any advice most welcome.



    John
    "You have to be the change you wish to see in the world"

  • #2
    Hmm, John :unsure:



    Not that I've ever heard of!! Very good question tho'. As far as I'm aware, the answer is no.....await any news to the contrary with interest!



    Don't blame you for thinking of all the options you can, John. If you decide to rent it out yourselves, get some good advice on tenancy agreements, etc, just to make sure you don't get stuck with tenants from hell tho'



    Sapph

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    • #3
      Sapph



      That's the problem - it's a minefield, renting out. We'd be tmpted to delibarately look for tenants from hell just to spite nfh - although knowing our luck, tenants from hell would get on really well with nfh!



      Something somewhere has to give so we are exploring all avenues. Last thing we want to do is move but they seem to be staying put.



      John
      "You have to be the change you wish to see in the world"

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      • #4
        Hi John



        It IS a minefield, you're right.....commenting on both personal basis (having handled my siter's house-renting for her) and on a professional basis! If you're going to do it, get some sound (housing-law specialist) advice, and perhaps look at what you get for your fees with a professional lettings agency. I'm not convinced that you can't do a better job yourself, armed with the correct knowledge, but you need to know that getting rid of problem tenants is not a quick job, and can be pricey. Not trying to put you off, but rather encourage you to do lots of homework



        As you say, tenants from hell to inflict on your neighbours is an amusing notion :P ....mind, they'd probably annoy nicer neighbours, wreck the house, and not pay the rent too



        All the best, whatever you decide to do



        Sapph

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        • #5
          Hi John,



          You sound like I feel at the moment. Don't want to put a dampner on your idea. But are they the type who would try and chase off , whoever you let it to. It could cost you more, in cash and time if they start breaking windows or destroying gardens. Maybe I am wrong and they would be happy that you have gone. Only you know what type of nutters you are dealing with. All the best with whatever you decide.



          GG.

          Comment


          • #6
            Hi John



            I'm pretty sure that you do not have to declare anything about NFH when you are renting your property.



            You must confirm with your lender that you can rent out the property though.



            If you do go for the renting option, I would definitely advise you to go through an Estate / Accommodation Agency. They will do everything for you. Make sure it's a good one that selects tenants carefully. They usually charge quite high rents and take their management fees from that.



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            • #7
              In that case, I defer to Holly's opinion (re which route to take to renting out) :notworthy:



              Sapph

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              • #8
                hi there john, just to add my words



                you dont have to declare anything if you decide to rent out your house, but as the others have said, you do not want to jump out of thefrying pan into the fire. make sure you research who is likely to rent your house, and what the prospects are of it being rented out quickly. also maybe consider renting it unfurnished so you dont have the problem of people trashing your stuff. you might get a little less rent but not that much. obviously you need to find a good agent to help you...so get advice from as many as possible!!!



                might be a good option for you...would you go and rent elsewhere or buy ?
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                • #9
                  Hi John



                  Just to clarify things for you a bit. When renting out, like I said I'd recommend going through and Agency. Any tenancy granted in the private sector now are Assured ones and Shorthold by default. The default fixed time period is 6 months (you can have a fixed term for a longer period, but this just means that you cannot pursue possession until the end of the fixed term unless certain specific grounds are met).



                  Notice requirements on Assured and Shorthold section 21 notices are very specific - grounds, timescales, rental periods etc. That's why I would recommend you get someone to manage it all for you. If you are relying on giving a section 21 notice to terminate a fixed or periodic tenancy then the minimum amount of notice required is two months, if the tenant hasn't left by that time, you have to apply to the Court for possession.



                  You might find this DETR Lanlords Leaflet useful.



                  Happy reading. :unsure:

                  Comment


                  • #10
                    Blimey all - this sounds frightening and thanks so much for all the advice!



                    Thing is, looking at rents charged in the area, we could get just over double what our mortgage payment is each month and then rent somewhere ourselves until the cruds go. Problem is, what if they don't go?



                    We would also have to finish the house first, no easy feat at the speed we decorate (of course, we do DIY 24/7 don't we :hihi: :hihi: )



                    This is all food for thought. We have not been coping very well lately and sometimes feel we drive you all mad. J and I had a long talk last night, bolstered ourselves up and then heard a row which made us feel a bit better. What I found out today made things better still and then Sweetpea's post on my other thread made it even better!



                    Annabel -
                    But are they the type who would try and chase off , whoever you let it to.
                    Well, she wanted this house and couldn't afford it, so yes, she would probably hate anyone who lived here, owner or renter. She made old couple who had house before us suffer.



                    Thanks for the info' though. If the worst comes to the worst and we have to rent out to get away at least we know what we are in for.



                    Julie's idea of hiring a hit man seems the easiest option after all !!



                    John
                    "You have to be the change you wish to see in the world"

                    Comment


                    • #11
                      Hi John,



                      Just to add my bit ... :lol:



                      I know someone who had let out a flat for amny years and did it all himself.

                      He started off by buying a Tenancy Law Pack from a bookshop. It has all the relevant forms in it and tells you what to do, step by step. ( I think you can get these on CD-Rom now too).



                      He advertised in Loot or similar paper (free ads) and that way he could 'vet' all the prospective tenants himself .



                      It all worked really well, never had any problems with dodgy tenants :thumbs: .



                      Only problem arose when he moved over 400 miles away which meant he couldn't keep an eye on the place and found it very difficult to go down to let it when it became vacant.



                      He wouldn't use manangement agencies cos they were all rubbish & crooks near his flat, so he eventually just sold it.



                      So really, you need to do what suits you best!



                      Mazza

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                      • #12
                        Might be worth thinking about a re-mortgage if possible. Because a buy-to-let mortgage does have tax relief. Can you re-mortgage for this end? I don't know, but a property solicitor or financial advisor should be able to help out on this.



                        Years and years ago I heard about someone who had a very bad nfh. After a lot of hassle and grief he hit on the idea of letting it to a mate who was a real, charter-carry Hell's Angel.



                        As he was a mate, he ensured the house was totally safe and that no damage was caused. But oddly enough, the nfh left, not long after the Hell's Angel moved in! Result? property back, nfh gone! :lol:

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