Renting My Flat Out
 

In the processes of currently renting my flat out but the agent wants over £100 just to do an inventory.

Apparently this is something I can do myself.

Anyone else done this and do you have a template :D

Cheers.

Loads of templates on Google. Just search Home Inventory Database.

Or, as Michael Caine would say, "just make a bloody list" :D

Hint. Take a load of room photos.

dl

What Dave said.

Not too much point with an Agent, they check references etc but if the tenent doesn't pay you've still got no come back.

Make sure you are all legal (told mortgage provider etc) and get adverts up in the local paper and/or at community centres, on gumtree etc.

Another top tip (one i got when i rented my place out) is go for Polish. Good payers, more likeyto look after the place than your average Brit!!!

5t.

I agree with the rest of what you've said but the bit about choosing a Polish person to rent the room out is odd, imho.
Doesn't matter where you come from, you'll get bad and good, just do a proper good interview and get loads of references as well as drawing up a decent contract.
People I know, who've rented to Poles (with the same thoughts as yourself, with regards them looking after the place) have found that some made a feckin huge mess and ended up thieving everything they could! Others were really good but you'll get a variety of sorts, where ever they are from.

Personally, I only rent out to people from the UK (colour doesn't matter) with a good background. I'm sorry, but if you have a foreign accent, you ain't getting in the door, just had/seen too many bad experiences:thumb:

Hmmm... well i rent my place to 'Bobski the Builder' and he's spot on.

Took quite a bit of advice from various people and one of the lads on SIDC has got about 10 properties he lets out. Only ever had problems with the natives, never an issue with the Poles (although Lithuanians are a bit dodge apparently).

My guys came with a good reference and I even nipped round to their place of work to make sure they had jobs. all good.

Another mate rented a place out to a nice British family who even nicked the carpets when they left! Stupidly they left a jumper for their kids school behind so got traced but being theiving scum they were ordered to pay it back at about 50p a month for the next millenium.

5t.

My property will be fully managed by the Agent, takes the headache away for me!

Thanks All :thumb:

What are you getting for "fully managed" though?

When i looked into it it was a right waste of cash. 10% a month for collecting the money? I do it myself, save a fortune.

Each to their own i guess!

5t.

All well and good if you don't experience any problems. I'm away alot and lead a very busy lifestyle and don't want this on top too!

I'm making what I want even with them taking the 10% so I'm happy :thumb:

Can't you do it yourself and give me the extra 10%? :D

Go on, you know you want to :p

Just bear in mind it's much more important these days to have a watertight inventory, as you do not hold the deposit any longer. So for you to make a case to use it to repair any damage etc you will need to come up with the goods.

If you ask nicely the agent may give you a copy of another landlords inventory for you to see the format used. (What I did for my first one).

If you do take pictures then print them and get the tenants to sign copies of them.

My landlord did 2 copies of CDs with photos on and we signed the disc. He doesn't go through a agency but part of a governing body to protect us both if it comes down to dissagreeing giving our bond back

madness imo

the only possible reason to do it, is if the agents guaranteed the rent regardless of occupancy (which by default means non payment of rent)

but i can't believe this would be part of a fully managed deal, I stand to be corrected though

ive been working at an estate agent for nearly 8 years. and ive never heard of anyone paying for a inventory when the agent is managing???? if they want 10% tell them your happy to pay 8%. they will have to do it cause other wise they get nothing.

As i said each to their own...

however, apart from finding a tenent i think you might be in for a shock. If they damage the flat or don't pay, it is still your problem, nothing to do with the agency.

If anything breaks - your problem. As it is a flat do you have factor agents to look after the gardens and repairs? If so you still need to pay for all repairs and the building insurance etc. You can ask them to pay for gardening/stair cleaning but that's usually next to nothing compared with everything else.

You can pay the agency a 'finding fee' to just get you a tenent if that's what you are bothered about the rest (unless there is a rent guarantee as has been pointed out) is probably worthless.

5t.

After speaking to them they doing the inventory for free.

Its a flat so the gardens and all outside maintenance etc are covered by the service charge.

The agent has a list provided by me of people I know who they will call for maintenance requirements.

All electrical equipment I leave will be gifted. So if it breaks they buy their own.

If they don't pay they use their own debt collectors/legal team to recover costs.

If there is a dispute over the desposit they deal with it. If the tenant has issues they deal with it. Regular inspections they deal with it.

What does Lou deal with? Nothing, which is how I like it :thumb::D

Did I ask peoples opinions on if I should go fully managed?? No I didn't think I did :Whatever_:lol1:

Oi you get back in your box :hjtwofing:razz::D

goo djob on the free inventory, they should do.

Sounds like you've done your homework which is good. If you have no electrical equipment then the only problems should be building related... if it is a fairly new build you'd hope problems would be few and far between!

The debt collection is a bit ropey though. Watch that, as i said my mate tracked their lot down and got a 50p a week order for £000's of damage so it can be pretty pointless.

Best,

5t.

Yeah, the peeps I know must have just had a bad batch of 'em in.
Someone I know who rented a room to a polish fella, ended up having his camcorder and things nicked one day, and the Polish fella was nowhere to be seen. Could happen with a person of any race though :thumb:

Good to hear that it's all sorted now, Lou :)