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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Not sure how to answer tenant’s question

232 replies

Silverflake · 04/12/2019 07:51

I’m renting my flat out from today, the tenants (couple, 2 bed flat) are moving in this afternoon. I’ve not been a landlord before so this is all new to me.

I’ve had a message from the letting agent today: “The tenant reached out to us asking once they move in and been there for a couple of weeks how it would work with having friends over and if you allowed them how long it for them to stay?”

I’m not sure how to answer this. I rented myself for 20 years and it wouldn’t have occurred to me to ask this - I had friends or relatives to stay on odd occasions for a night or two, maybe every few weeks.

I wouldn’t want people staying there all the time as I have to think of my neighbours downstairs (small block of 4 flats) and additional noise. And wear and tear on the flat to a certain extent I suppose? Do I even have the right to specify this though? And if so, what is reasonable? Are they trying to get me to agree to a certain amount so that it becomes a regular arrangement/partial sublet thing and then I can’t complain at a later date? Or am I overthinking it?

WIBU to say they can have one or two people to stay no more than once a week? Really not sure what the done thing is here so any advice would be great, thanks

OP posts:
ferntwist · 08/12/2019 08:31

Devora13 Most landlords have buy-to-let rather than repayment mortgages so the monthly mortgage payment is just servicing the debt, it doesn’t pay off the capital.

Xenia · 08/12/2019 08:34

I would just reply sending them the text from the clause in the contract about no subletting and say unfortunately we do not allow anyone living in the flat other than the tenants and leave it at that. They seem to wanta license to have airbnb and sub tenants by the back door.

Taddda · 08/12/2019 08:59

@ferntwist I disagree slightly with that, rent charged to a tenant on a buy to let property will always be more than the payments that need to be made from the landlord, sometimes significantly more depending on the percentage of mortgage- giving the capital needed (depending on personal expenditure) atcthe end of term to down- there's no sense in doing it without the payoff, unless your doing it out kindness...

ferntwist · 08/12/2019 13:53

Tadda For most buy-to-lets you would hope to make money each month, but these days it’s unlikely to be enough to pay off the capital. It depends how much you started with.
In that way it’s no different from making money by having it in the bank or in shares. If you earn interest on savings you’re profiting from landlords like me paying banks for borrowing.
If you earn money from shares in the banking industry, or if your pension fund is invested in the finance sector, you make money on borrowers.

Taddda · 08/12/2019 14:03

@ferntwist your right, as I said it does depend on how much you started with (percentage)- but perhaps we are headed into a buyers market quicker than I thought. So your buy to let mortgage doesn't allow you to just pay off the interest until end of term (Full payment?)

Taddda · 08/12/2019 14:07

@ferntwist it's not only landlords that borrow money from banks, I think the money making buck literally stops with them....

Devora13 · 08/12/2019 14:18

@Taddda
I'm finding it hard to see the bit in my post where I mention altruism on the part of buy to let landlords. Could you point that out to me, please?
And I know plenty of people who have bought their home rather than renting, through a shared ownership scheme or having saved a deposit, and having an acceptable credit rating. Obviously not everyone is able to do this, depending on the area they live in, personal circumstances etc. As for saving for a deposit, that has only become quite such an issue since 100% mortgages were phased out.
Some people rent out of preference, as my parents did. It's quite the norm in some other European countries, where despite not owning the freehold, the tenant pays for things such as replacement bathrooms and kitchens. The difference is there is usually more security of tenure.
Been there-took on a flat because the previous tenant had been there for four years. After six months the landlord gave notice as they'd decided to sell. So glad there was only me to move, it would be horrendous having to move a family every six months.

ScreamedAtTheMichelangelo · 08/12/2019 14:25

Reading this thread has made me weep with relief that I’m no longer in the rental cycle. So sorry to all the landlords whose lives were ruined by my having guests for a week without asking their permission first. Hmm

ferntwist · 08/12/2019 15:21

@Tadda I don’t make enough money to use the rental cash to pay off the capital. I need it as income to help pay towards my own rent as I’m also a private renter. The aim with buy-to-let for me and many others is not to own the property at the end of 25 years like with a residential mortgage, but rather to make some income now.

ferntwist · 08/12/2019 15:24

Also I’m not sure the money-making buck really stops with anyone. I watched a tutorial the other day on YouTube which showed how you can actually make more money over the long term by renting and investing your spare money in the stock market rather than buying and spending your money on upkeep of your property and interest.

Taddda · 08/12/2019 16:08

@ferntwist So you own a property on a buy to let mortgage, make no money off it, and spend everything you have renting off another landlord?? Sorry, you completely lost me....is it just quick cash your looking to make so you can try and win big through stocks and shares?? Its fair enough if it is, and good luck to you, but I dont really think your in the majority...

JolieOBrien · 09/12/2019 04:31

@ferntwist

I know what you mean.

JolieOBrien · 09/12/2019 04:34

I am seriously thinking of selling all my houses to another landlord who has approached me with an offer because quite honestly after 15 years of hassle I really do not need it anymore. I have been let down by too many tenants who seemed trustworthy at first and then went on to wreck my houses and not pay rent. So I will now leave this thread >>>>>>>>>>>>

Taddda · 09/12/2019 07:21

@JolieOBrien I think that's a very wise decision- good luck to you

JolieOBrien · 09/12/2019 08:00

Thanks Taddda I should make about a million on them if I do ....

JolieOBrien · 09/12/2019 08:03

Just before you pipe up about greedy Landlords I was actually was born into a family of eight who lived in a council house with an outside toilet so I am self made and I did not get any help from rich parents etc. I just worked very very hard.

lyralalala · 09/12/2019 08:46

I just worked very very hard.

And got lucky with timing, opportunity and outcome

Working very very hard doesn’t guarantee anyone anything

Taddda · 09/12/2019 10:06

@JolieOBrien you'll be able to afford that 50" Flat screen TV then.....Hmm

ScreamedAtTheMichelangelo · 09/12/2019 17:12

@JolieOBrien The reason you're making a million or so is because your tenants have paid all the mortgages off for you. Not sure I'd class that as you working hard. Hmm

Inliverpool1 · 09/12/2019 19:06

The harder you work the luckier you get, first million is the toughest I’m told

JolieOBrien · 09/12/2019 19:24

@Inliverpool1

My other half comes from Liverpool.

PrinnyPree · 09/12/2019 19:29

I would say as long as the flat isn't damaged and the neighbours are not disturbed, do what you like, it's your home.

RandomUsernameHere · 09/12/2019 19:43

Seems like an odd question, I would have been a bit taken aback to be asked this too OP. Maybe the letting agent has a policy on this? They should be the ones checking the tenants are not subletting etc.

Taddda · 09/12/2019 21:17

I just still think they're being (over) cautious new tenants, perhaps they were worried the neughbours would be suspicious of friends staying for a bit (like most on here!) and just wanted to be upfront

doorbellringer · 09/12/2019 21:47

I’m a letting agent. I’m surprised the agent even approached you tbh. We would have jumped on it and asked for further details immediately.
We would probably have said no, as it sound like they are trying head in the MHO direction and fly under the radar.