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Original poster

Can any landlords offer help in renting out our much loved home?

55 replies

hooliodancer · 20/08/2018 18:41

For various reasons, we will be renting out our house in the new year.

We are spending around 5k getting it up to scratch- New blinds, full redecorating, new carpets and flooring. We have done everything to kind of match the rest of the house. It is, I suppose, a high end finish.

It is in a posh ' the much sought after' area. It has huge kerb appeal. Because it has been our home it has a very nice kitchen with range cooker, Fired Earth bathroom. I'm just trying to describe it, not trying to be grand or anything! It is a Victorian 2 bed cottage. I thought we would be here forever, hence we did it up not thinking of getting a return. We just chose what we loved.

My question is, will it attract a higher rent because of this, or is it just the same as properties which have been maybe bought to let so might be more basic?

I am hoping that because of the nice interior and cute factor of the exterior we are more likely to get a high earning couple who might stay a good few years. Is this pie in the sky though? Am I deluded?

We have a buy to let (had if 30 years, it was bought to be our pension) but it has basic kitchen etc, hardwearing carpet. We have had tenants in there for 10 years, and 6 years recently.

Our family home seems like a different kettle of fish though... maybe I am being to emotional?!

OP posts:
lalalonglegs · 20/08/2018 19:14

Hmm, high-earning couples tend to buy their own places rather than rent for years on end. A really nicely decorated property in a good location should attract a slightly higher rent and, hopefully, more potential tenants meaning that you have a better chance of getting someone good who will want to stay. Imo, renting unfurnished is one way of attracting long-term tenants as who wants to lug round sofas/beds/chests of drawers every few months?

user1484830599 · 20/08/2018 19:48

I honestly wouldn't waste money on blinds. I have just had one pair (of two matching) and will just replace them with cheap ones next time.

I find it very difficult to rent out houses that have previously been my home, and find it really hard to take the emotion out of it.

You may be lucky and get long term tenants, however in my experience tenants of my house (nicely decorated, in a nice area) usually go on to buy after a year or so. They just don't want to rent long term. I think with a high end property it is unlikely that you'd get long term high earning couples as why would they rent when they could buy.

user1484830599 · 20/08/2018 19:49

That should have been I have just had one pair (of two matching pairs) of curtains ruined!

Dickybow321 · 20/08/2018 20:00

Your house sounds lovely so I would do everything else as cost-effectively as you can. If its already nice throwing more money after it won't net you more money. And renters won't tend to look after a house as well as you will. For that reason I would never rent out a house of mine -I would buy to let. Is that an option? This way you will make more money and it will be more cost-effective. I acknowledge this may not be an option from the way you phrased your OP

Paddingtonthebear · 20/08/2018 20:06

We rent and we would pay a bit more for a nicer house in the right area vs a dated house in the right area. Where we are rents are very high anyway, and even properties that are in dire need of updating still cost a lot to rent if they are in “good” areas.

Whereabouts is your house I might be interested? Grin

RandomMess · 20/08/2018 20:40

You need to be fussy about references and perhaps a notably higher deposit than usual?

Original poster
hooliodancer · 20/08/2018 20:46

The house is in Epsom.

House prices are dropping here, but still you need a lot of money for a deposit, hence why I thought some people might stay a few years.

I had to pay for blinds, as we have non standard size windows. I went mid price, but yes should have gone cheaper I think. I will rethink my carpet choice based on that!

I do need to rent it out Paddington, we need to move 250 miles away!

OP posts:
specialsubject · 20/08/2018 20:50

you can be as fussy as you like about who you rent to but you must must must detach. I had a high earning couple in a rental - loads of rubbish left and patio ankle deep in dog ends, be warned.

if you have tricky stuff - range cooker, free standing bath (hope not!) then you must be prepared for people not knowing how to work them and consequent damage.

you are already landlords so you should know all the rules and pitfalls. those new carpets will still be deemed worthless in eight years whatever they cost.

BubblesBuddy · 20/08/2018 21:23

You may find that downsizes want it for 6 months whilst they look. Or a professional pair who are not sure where they want to settle. A 2 bed cottage might attract a young family but if you want a higher rent, this may not be an attractive proposition if people are trying to save. A divorcing person might rent it as well, pending financial settlement. Where I am, 2 bed rentals are quickly let so you should be ok for getting a tenant as long as you don’t price it ott.

You should get an agent to manage the property and try and forget about it as your home. The agent should inform you if anything needs replacing or repairing. Discuss what you would like before they get on with the work because when you see it, it might be crap! Renters don’t really look after things well. You might get lucky though.

Alexalee · 20/08/2018 21:25

Is selling not an option? In my experience of renters, they don't look after your house properly and you will be even more angry about this as it was your home originally

Pippylou · 20/08/2018 21:32

People do stay longer now, I think but I'm also finding people are starting to buy as house prices level or drop.

I would get high end agents, who will look after the capital value for you and insist that the tenants look after the house. I've always fired agents who use the phrase "it's just a rental".

Sadly, I agree that high earning does not always equate to looking after the property. However, most people do look after places well, particularly if you are a responsible landlord.

serbska · 20/08/2018 21:33

Best tip? Detach emotionally. No one is going to treat it as your much loved family home and what you can get back from the deposit protection is fuck all.

bluemoonchances · 20/08/2018 21:33

Things will get broken and ruined. Whether it be stains on carpets, marks on walls etc. You need to emotionally detach from the house. Take lots of photos of things like carpets , any furniture and blinds to show condition before renting it. Bear in mind that you do need to expect "reasonable wear and tear" .
I've had several tenants now , and while none have trashed the place and have all been good tenants, at the end of the day they aren't as precious about stuff because it doesn't enter their heads that to repair/ replace something does come out of someone's pocket.

Daisymay2 · 20/08/2018 21:47

Yes to detaching , no one will love it like you do.
I would get a good local letting agent in for advice - or even 2 or 3. They will give you a realistic appraisal. We got great advice from a friendly letting agent concerning furnishing and decorating.
Also, ensure that you leave a copy of all instruction manuals. In our properties we have copies of all the manuals in a file which we leave in the property. ( I print out copies and keep the originals) The agents include it in the inventory. we also include a copy of the local rubbish collection arrangement, parking permit arrangements etc.

OVienna · 20/08/2018 22:09

In Epsom you could get loads of US expats with kids in the American School. Is your house suited to that market?

Leatherboundanddown · 20/08/2018 22:20

If you want long term tenants look for ones with children who want to put down roots or already have their children at local schools. Maybe a lone parent with one child would be happy there.

When I was in that situation myself I paid a bit more for a high spec property BECAUSE I wanted to stay for a long time.

Agree with others that young professionals move on quicker to buy if they can than young families. It takes much longer to save up (if ever) when you have a child.

EspressoButler · 20/08/2018 22:24

This reply has been deleted

Message withdrawn at poster's request.

GETTINGLIKEMYMOTHER · 20/08/2018 22:43

If you live in an area with well paid expats, that is a possibility. We did that with our house while working abroad for several years. It generally worked very well - they were corporate lets where their employers paid the rent. We had a very good letting agent who managed it and fixed anything very promptly. There was never any but very minor damage to anything - though one tenant - we never did find out which - did nick a load of dh's old Dinky Toys out of the loft. 🙁

Over the years we had German, French, and Japanese tenants, all families with children.

cantkeepawayforever · 20/08/2018 22:51

We rented out our family home (also Victorian cottage, done up by us) when abroad, and returned to it.

  1. Emotionally detach.
  2. Get a really good agent.
  3. Get it professionally cleaned before you see it if you are going to move back in, see it again, or sell it. Wear and tear on e.g. kitchens or other fittings is easier to cope with emotionally if the house is clean and smells nice.
lastqueenofscotland · 20/08/2018 23:13

Yes to a really good agent, if it’s posh and in a nice south east area would someone like Knight Frank cover it?
Detach
Don’t leave anything you absolutely adore in there.
Don’t decorate it to your taste

cantkeepawayforever · 20/08/2018 23:31

Absolutely neutral decoration, in a standard colour that's easy to source for touching up, is a good point. Washable paint in kitchens, bathrooms and hallways, no chalky finishes.

borlottibeans · 21/08/2018 10:37

From a tenant's point of view (though not for much longer, thank god!) yes yes yes to emotional detachment and using a good agent. We once rented someone's former home privately, and it was awful for all of us - she'd come round to do inspections like she was lady of the manor and would get offended if we moved her shitty furniture around because she basically saw us as house guests who happened to be paying her mortgage. You're more likely to get long term tenants if you're able to take a step back and let them feel like it's their home.

Svalberg · 21/08/2018 10:47

If you've got a decent garden, I'd factor in getting proper gardeners at least once a year to do a baseline reset (speaking from bitter experience of tenants who didn't care for mine, and the letting agent who hired someone to tidy it up afterwards - tidy it up meaning totally finishing off the trashing of the garden)

Original poster
hooliodancer · 21/08/2018 11:30

The thing I am most worried about is my cooker, which I love and was hugely expensive 10 years ago.

I considered taking it with me, but the cost of disconnecting it, transportation then reconnecting, replacing it meant it would be more cost effectivr to buy a new one. It is gas and we have no gas where we are going!

I won't go to the house until we sell, certainly not when tenants are in. I absolutely want people to enjoy the house as much as I did.

I am planning on a gardener once every few months. Our front fence is a bit won my. Is this the sort of thing tenants expect to be perfect?

OP posts:
Original poster
hooliodancer · 21/08/2018 11:31

Sorry, the fence is wonky.

OP posts: