What do renters really want?

[WilfSell]

We will be renting out a property (until she died, the house of my MIL).

We would like to know, if you were a young couple, or small family (it's a 2 bed in a good newbuild suburb in catchment for the Salford primary that came top of the table), what items you would consider essential and what you would just really like.

For example, furnished or unfurnished? Would a dishwasher make a difference to the rent you might pay? What other things...?

Thanks very much.

more replies! Thank you all - it's really helpful...

Loryics, I've just been reading up on tax and I'm now both confused and daunted... Do you work out your own tax return or do you have an accountant? I suppose with one property it can't be that big a deal? Or can it? [argh!]

Tax return is OK. All I do is total up the gross rent received, (that goes in one box on the tax return), and then there are sections for your expenses. I offset the interest on the mortgage; the insurance; the letting agents fees; the servicing of the boiler; the gardener; the chimney sweep; anything else I do to the house when I'm back in the UK; last year I had some windows redone and wrote that off as well. I'm a non-resident l/l (I live abroad), so get the rent gross, and my mortgage interest is bigger than the rent, so I never have to pay tax. I make a loss each year which is carried forward to the next year and decreases the likelihood that I will ever have to pay tax.

However, the house is my home, and is not on a buy-to-let mortgage which means I can't have HB tenants in the property. We are abroad with HM Forces, and our mortgage company was happy to let us rent it out.

I agree about using an agent. My letting agent doesn't sell property - her whole business is in letting and managing property and she scares me!! She is worth every penny I pay her.

Before we let the house we had it redecorated in neutrals; the range cooker is also the boiler, so that was cleaned and serviced. I didn't leave white goods (I needed them over here) on the advice of the agent. I left two pieces of furniture (desks) that the tenants use, so that was OK. As the house was how I want it before I moved, I haven't changed anything except the decor, as I will return to live in it. The agent inspects every 3 months, and I go back once a year to see if anything needs doing, so I can plan for it and meet contractors etc. The tenants don't mind, and I always take them chocolates!

I plough the rent back into the house and get things done on it when they need it. The tenants know that the letting agent is proactive and that things get fixed as soon as we can arrange it, so that helps. I live in rented property abroad, and so if I expect my landlord or the MOD housing service to do something for me, then it's a good bet I'll need to do that thing for my tenants, iyswim.

Good luck with it, it can be daunting initially, but my letting agent is so great, I don't tend to worry.

Just skimmed so sorry if repeating. I am a landlord and aim to be a good one. Be flexible and consider reasonable demands.

We rent at market rent but don't put rent up when tenants in situ. Current ones have been there for ages so now getting good deal.

Your mortgage company will insist on either shorthold assured tenancies or a five year (prob) let to housing association. Your mortgage company may prohibit eg housing benefit or students. HB is paid four weekly and not monthly so HB tenants may wish/need to pay on a different cycle from your mortgage. Not a problem if you know about it in advance!

We have a small two bed flat in a nice part of London which we usually let to a young couple or sharers (we lived in it for a long time), so what we provide not nec what you would want for a young family. We have good condition neutral decor. We don't paint at every change-over but do paint when looking scruffy. We once had tenants who wanted to move in before we had painted, when we were planning between lets, so we have them the painting week rent free. But no longer than three years between paints.

Second the point about shelves and hooks. It is better to make sure these are in sensible places and put up properly or people who are crap at diy or don't have a drill will make a botch of it. Same with picture hooks. Put them up properly yourself or you'll have huge cavities in your wall. These things make it much easier for people to make it a home.

We provide ikea furniture. Not the cheapest or the most expensive, but stuff that will stand up to everyday life and looks good. Don't over-furnish - that is annoying to live with but make sure the basics are there if renting out furnished. As to which to do, I'd ask a few local agents about the local market. They will know. Last time we renewed the furniture we bought a fun and funky sofa (well, sofa bed so the can have visitors more easily) which would go down well with our c25 yr old renters. It has done .

Don't provide too much equipment. Most people have lots already. If somebody asks for a kettle and a toaster provide it, but don't go out and buy if before you let. Do provide a decent vacuum cleaner if you want people to look after the house. Do let with spotless carpets. Charge (fairly) for cleaning outrageous stains but not wear and tear. We put down wood "laminate" which we intend to renew every ten years.

We provide dishwasher, washing machine and fridge. We did provide a small freezer but one set of tenants said it took up too much room so we took it out and have never been asked to replace it.

Specify in contract responsibility for garden and provide tools for the job. Not only is this fair it is a requirement.

You are required by law to have a gas safety check every year. If house is only four years old unlikely you need carbon dioxide monitors as boiler should be safe, but check that out.

Make sure tenants know to notify you/agents straight away if there is a problem. Works better for everyone this way.

Don't be tight.

Budget for a maximum rental of 48/52 and build up a reserve of a new boiler, a month's mortgage, and emergency odds and sods.

Crikey, thanks you guys that is incredibly useful advice: will be cutting and pasting this whole thread into my 'letting house' file...

For me (not read thread): Security is the main thing - if you intend to sell in 2 years time, tell them.

Erm, dishwasher would be fabulous. Storage for a lawnmower (the amount of places I have lived that want us to cut the grass, but give nowhere to store a mower ), freedom to put up pictures, unfurnished apart from cooker for me (we have everything else, bar dishwasher)

ooh what else? Oh, some common sense... when tenants have been renting from you for 4 years without even being so much as a day late - don't force them to continue having a guarantor.

You seriously don't provide a washing line lori????

From experience of a friend who has rented a lot of houses

Their worst problems have been

Insecurity of tenure - landlord saying it will be three years then suddenly giving notice

Impractical decor such as very pale carpets in hallway or bathroom, which are just a liability

Garden unsafe for children or much too high maintenance

Fixtures and fittings just not robust enough for family life

Not allowed to put up shelves or pictures, or not enough storage.

Flamesparrow No we dont. If a rotary line collapsed and injured someone we could be liable. Its a sad truth but in this day and aged of risk assessments, and health and safety, we have to air on the side of caution. In the same way that we do our best to ensure our tenants safety, we also have to protect ourselves. Besides most of our tenants have left their rotary lines behind when they have gone, nearly always knackered! which tells me that weve made the right decision!