Being a Landlord.Is it all plain sailing?

[T Fearon]

I have just become one,and would appreciate any advice.Gone through the process of registering and compliance (including deposit protection).I take it it's not simply a case of sitting back and watching the money roll in?

[dec]

Betteridge's law of headlines

[UlsterMan2]

Simple really, plain sailing if you have a good tenant, nightmare if you have a bad one. My first tenant was great or so I thought, then house got raided for drugs, neighbours went ballistic and rightly so, I was public enemy no.1 for letting a dealer in, but I'd no idea. 2nd tenant another good one in terms of keeping house, good neighbour but had money problems, I need to say no more, 3rd one exact same as 2nd and luckily fourth one great, never hear from them, great young family and rent paid into account monthly no problems. Have the house 10 years and first six a nightmare last 4 plain sailing, apart from odd bit of maintenance

[Hardy]

Remember you're not allowed to discriminate against gay tenants.

[Armamike]

or scousers.

[Orior]

Betteridge's law of headlines

Very good!

[T Fearon]

Ulsterman Thanks.If I have a few bad ones I might just call it quits and live in the property myself!

[Over the Bar]

Don't allow them to even fall one day behind with rent. 

[The Subbie]

Did you enter a competition to get the house ?

[Rois]

Being a (reluctant) landlord meant I had to start filing a tax return, so if you didn't already, you'll need to start. And when interest rate relief disappears it will be a more expensive activity.

I let it stress me out too much. New boiler, new ensuite shower, electric safety certs, gas safety certs, all these things to deal with. Had good tenants for last 3.5 years though. Moving back in myself in a few months while we find somewhere else to buy.
I'd never be able to get long term tenants as the rent is high enough that if you can pay it, you're likely to be looking to buy.

[theskull1]

Don't allow them to even fall one day behind with rent.

Just right too 

[Dougal Maguire]

Not one post about being a good landlord, looking after your tenant, ensuring the house is on a fit state of habitation and that it meets the appropriate safety standards etc, setting a rent that is fair and ensuring repairs and maintenance are carried out in a timely manner.

[Avondhu star]

or scousers.

That cant be right. Imagine the cleaning costs when they leave

[seafoid]

Budget for repairs and replacements.
Treat the tenants with respect.

[stew]

Tony, I had properties in the states for rent, the biggest thing I learned was to rent only to people I knew or to people that had references from people I knew and trusted.


You better be handy or have good friends in trades, you are going to need them, insurance is vital, be attentive to your tenants needs and the minute they start f**king around rein them in or start plotting to get them out.

That is all.