Loads of tenants waiting for one house – Who do I rent it to?Make Text Bigger
Ok people, this is one of my most difficult choices over last 15 years of renting houses.
I always have loads of options and juggling about to do to keep people happy but in the next two weeks …..
I have two bed nice (ish) house coming up. Existing tenant evicted due to being a drunk and scratching neighbours cars!,
So amongst the dozens asking for this house, I have …..
- Joiner mate who is now homeless with two dogs, needs somewhere quick, will bring me £110 per week.
- Gal been with me approx four years in my 3-4 bed house, who wants to downsize, been asking me about a year. Will get £106 per week for her, but then I have people waiting to give me £160 for her current house (which I am currently only charging £117 for).
- Builder mate who’s son is homeless this Saturday, him and his missus working, quite sensible, Will get £110pw.
- Then here’s the real sentimental pickle …… tenant just got out of mental hospital to live back in three bed house where partner passed away. This property is bringing in £200 per week as he’s sharing with family member. He says needs to get out, as the house is bringing back memories and he doesn’t want to end up back in mental hospital. My emotional side is leaning towards him because I can see his mind his drifting towards how he was when he got admitted. Plus he needs downstairs a bathroom which 2 bed house has for him.
If I swap my existing tenants about, I create myself loads more paperwork, as I do Housing Benefit (HB) forms for them, but hopefully if I make the right decision it’s a short term pain for extra income and long standing tenant.
BUT, for years, income was high priority, then last few years or so, feeling sorry for people, letting them off with lower rents etc. and also lesser hassle to me. Now I’m thinking, let’s get all me mortgages paid off over the next 10 years or so, look after no. 1, ‘otherwise I could be in the crap in the future. At least with no mortgages left I will never have massive outgoings, so I will be reasonably safe. Then I can help these homeless people even more.
You might think this is a nice position to be in, but it’s not when you have it all the time. It’s not like when you sell one to highest bidder and never see the others again.
I had to to jot all the different scenario’s down as I was getting confused myself and I can see all sorts of answers coming back.
On Vanessa’s Property Tribes forum the other week I got one bloke telling me I couldn’t rent 2 bed house to woman with 6/7 kids. The other choice would have been to leave them homeless!
I’m not sure what to do because I want to pick the option which is the lesser pain to me and the tenants.
And my joiner mate will not be happy if he doesn’t get this house!
I don’t get a lot of houses come empty now, hardly anyone goes because I am good, because very few landlords want housing benefit tenants and because the Council has got no houses for them.
What should I do?
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