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To think someone needs to set up a letting agency for long term lets?

(44 Posts)
AwfulMaureen Sat 01-Feb-14 13:43:44

It's impossible. I am currently looking for a new house...our landlord is selling...I see a house, call to enquire about it and ask the agent "Do you know if the owner is wanting a long let?" and they're all "Oh...um...I don't know"

A few have said "Yes...he's bought it as an investment...buy to let" but I'm so nervous....I don't want to choose a property and get asked to shift 6 months later.

The council isn't very good here for people who have jobs...bascially told me I have zero chance as wer'e both in work and they're so short of properties.

misscph1973 Sat 01-Feb-14 13:51:16

I know what you mean! I have been renting the same house for 5 years now, and what I did was I asked to meet the landlord when I viewed the house. He did not want a long-term contract, but he was interested in long-term tenants. We just renew every year and there has never been any problems. I make sure I don't call him for small things I can do myself, and he in turn always fixes things when I do ask. And of course rent is ALWAYS paid on time.

It's better for the landlord to have a longterm tenant, agents are xpensive for them as well. Basically you need to make sure that the landlord is the type of landlord you want and ensure he understands that it will be mutually beneficial for both of you. Make sure he knows that you are serious, get a reference from your current landlord.

expatinscotland Sat 01-Feb-14 13:54:37

Trouble is, because so many are bought to let by individuals who are not a business, even a long-term let will have a two-mont break clause most of the time.

specialsubject Sat 01-Feb-14 14:15:44

that's because it is a sensible precaution for landlords - tenants can move in and not pay any rent and it still takes months to remove them. Once you've proved yourself then you can probably negotiate as long a tenancy as you want.

with a buy-to-let, landlords will want long-term tenants; they won't be moving back in. so you take the initial six months, meet the terms of your contract, behave as normal people do (Not a 'good tenant', a normal tenant) and ask for an extension.

VelvetGecko Sat 01-Feb-14 14:28:10

Yes, currently private renting is a big gamble. I'm lucky my LL gave me a 3 year lease, now into my 4th year but it's never far from my mind that he could choose to sell at any time.
Throughout many other european countries longterm lets are the norm and tenants are much better protected. In the UK it's all about protecting the LL. Perhaps if the law made it easier to evict for non-payment LL's would be more willing to let longterm.

Mintyy Sat 01-Feb-14 14:30:45

Yes, it's a shocking state of affairs. I really do feel sorry for tenants who want a long let, they are so hard to come by.

expatinscotland Sat 01-Feb-14 15:46:35

'that's because it is a sensible precaution for landlords'

For individual ones. In other places, you can't do a two-month break clause, the landlord must honour the lease till the end of its term and so much the tenant, or the tenant must be a fee for leaving it early and is beholden for the rent until another tenant is found. There is already legislation in place for evicting non-payers. Furthermore, the tax structure is set up to vastly discourage individuals from buying-to-let and mortgage products are restricted, too.

So the result is that most of the rental stock is held by corporations, who can weather storms better AND do not have any emotional attachment to the property.

It leads to a far better system of private renting and greater stability in the housing market as private renting is a more stable option and people are less likely to overstretch financially in order to have security of shelter.

marzipanned Sat 01-Feb-14 15:53:37

I'm an individual LL and entirely agree with those who have said that once the first six months is up I'd be very happy to put a long term lease in place. Redoing the lease and finding new tenants is a massive faff.

Our current tenants will have been in for 2.5 years when they leave (moving abroad) and I would have happily given them a two year lease after the first six months, though they were never sure how long they wanted to stay so asked for the lease to be renewed every six months.

I'll be asking the estate agent to look for long term tenants to replace them - would love it if a family moved in. I'm also happy with tenants redecorating etc, it makes the place feel more like home for them and encourages them to stay longer which is a benefit all round really..

Joysmum Sat 01-Feb-14 15:56:04

I'm a LL myself having started off in rented so I can see it from both sides. Its not simple.

Most mortgage companies insist LL's only offer short hold tenancies.

All of our properties have had the same tenants for the past 3 years but we wouldn't have offered longer tenancies until we had experience of them.

Our properties are my retirement fund, but if anything happened and we needed money, we'd sell. Our tenants know that.

fedupandfifty Sat 01-Feb-14 16:02:11

I'm a private landlord with two properties. Both sets of tenants have been in-situ for the long term (ie 2-3 years). I'm lucky: they pay their rent on time. But I don't really get your point about "long lets". All new tenancies as far as I know, at least, are required to be of 6 months' duration, but after the initial 6 months is up, the tenancy just roll on unless either party wishes to make contractual changes to it.

Could you advertise on Gumtree or similar if you have particular requirements?

Theodorous Sat 01-Feb-14 16:03:35

I agree. We worked out our last tenants had given is about 25k and have given them their 3 month notice period rent back to help their deposit for a house. They were fab tenants who saved us a fortune over the years by fixing stuff themselves. 2k is all they deserve

Theodorous Sat 01-Feb-14 16:06:21

And I would offer a 5 year let of they wanted it but I think the annual renewal is for mutual protection.

Flossyfloof Sat 01-Feb-14 16:15:02

Where are you OP? I would much rather have long-term tenants and have a lovely house available - just being refurbed now.

marzipanned I wish I could find a ll like you! We're looking to move later this year and really want a longer let. We want to put roots down, look at schools (Ds is almost 2) and find a home. We really hate dealing with agents though so it limits our market but I just won't pay their fees when I've had appalling experiences with them.

BackOnlyBriefly Sat 01-Feb-14 16:16:20

I get why it's hard for landlords to offer a long term contract, but surely it's natural that tenants want a place they can consider their long term home. Unless you have to move around for work or something you'd want to get a nice place and feel secure (providing you paid the rent etc).

Nowadays that means buying a house, but so many can't afford that now.

Maybe we'll all have to buy caravan's and live in them. It would be more your own home than a modern tenancy.

Any of you lovely landlords in North Notts? grin

expatinscotland Sat 01-Feb-14 16:19:50

'Maybe we'll all have to buy caravan's and live in them. It would be more your own home than a modern tenancy.'

That can work if you can find a park that allows you to live year-round (some do but only in the chalets). Otherwise, you will need to be out of the caravan, usually for 10 weeks/year and often the 10 weeks are at a set time. The site fees can also be incredibly expensive and many parks have rules about the age of the vans. sad

marzipanned Sat 01-Feb-14 16:22:18

EnglishGirl you're not in London are you?!

I really hate paying EA fees too, but the first time we tried to rent the house we put an ad on gumtree and had about 40 responses - NONE of whom showed up to arranged viewings. We tend to use the EA for the first six months and then take over and operate directly with the tenants afterwards.

We rent the property we live in (different part of the country) so I do know what it feels like to be a tenant. Actually I like living in rented property, but have been very lucky with the LLs I've had.

marzipanned Sat 01-Feb-14 16:22:34

Oops x-post smile

DelGirl Sat 01-Feb-14 16:25:22

I've been fortunate and had a few tenants stay 2 or 3 years. My current one has been in my flat for 5 years this year. They're on an an annual agreement. I wouldn't be comfortable to have a longer lease as you just don't know if you'd need to sell at some point

Caitlin17 Sat 01-Feb-14 16:32:16

I have 2 properties. I only offer 6 month lets which then role on from month to month. I've never ended any of my tenancies all have ended when tenants moved out.

One set wanted a year. They were lovely people but I wasn't sure the flat was ideal for their family and it turned out I was right. If they had signed up for 1 year I could have made them pay the re letting costs and rent and Council Tax until I found a new tenant.

I need to be sure if something catastrophic happens in my life I can sell the flats without tenants or I might need one to live in myself or for my son. They are my pension. I'm not a charity or social services and I didn't inherit them, they were bought with earned income.

To be fair I have been mostly lucky. Current ll is very hands off and leaves us alone, gets any repairs done quickly and without question and in return we look after the place, keep on good terms with the annoying neighbours and pay the rent on time without fail. We are happy in the house but need to be somewhere nearer work with better schools etc. and they want to sell so they can buy a bigger house in Spain smile

KittensoftPuppydog Sat 01-Feb-14 16:45:22

Anyone who wants a property in camden town can pm me. My lovely tenants are leaving in march. It's great house and I am fine with pets too. I would not dream of kicking anyone out with only a couple of months notice.

Flossyfloof Sat 01-Feb-14 18:16:36

Englishgirl I am North Leicestershire, is that any good to you?

Unfortunately not flossy, we're trying to cut down our commuting time smile

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