Loads of tenants waiting for one house – Who do I rent it to?

by Mick Roberts

9:58 AM, 14th November 2013
About 7 years ago

Loads of tenants waiting for one house – Who do I rent it to?

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Loads of tenants waiting for one house – Who do I rent it to?

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 …..

  1. Joiner mate who is now homeless with two dogs, needs somewhere quick, will bring me £110 per week.
  2. 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).
  3. Builder mate who’s son is homeless this Saturday, him and his missus working, quite sensible, Will get £110pw.
  4. 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. Loads of tenants waiting for one house - Who do I rent it to

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?

Regards

Mick



Comments

Mick Roberts

17:23 PM, 14th November 2013
About 7 years ago

Update, option 2 not ruddy answered her phone & I’ve told her before, she’s missed houses before from not ruddy answering her phone.

And option 4 has slight twist that if family member moves out soon, which is possibility, that could be swing things, as will only be getting £100pw for him in current house.

References? Who’s swearing? Ha ha, I don’t think any of mine would pass a reference.
Finances, it would be a case of who has the least bailiffs go in one day.

Yes, I do do my house shares with related people as joint tenants to avoid HIMO’s.

Ha ha, yes totally different world to what some know, I’m glad Mark although wouldn’t want to be in it, does understand there is a different segment of renters & Landlords out there totally different to those that pay for reference checks etc.

I think I may look at Guarantors more if anyone could advise me, but problem is, a lot of my new tenants, their Mum already lives in another one of my houses & she wun’t pass Guarantor, & normally got note to guarantee with.

Talking of upsizing, I’ve had tenant of approx 7 years, upsize, then total of 10 years, now downsizing-I’ve been in this job too long.

Yes, I get loads come back when they realise grass isn’t greener on the other side.

I also have loads of new & old tenants that are after this new 2 bed, which would reduce my paperwork, but I do want to keep existing one happy.

Niri Solanki

19:31 PM, 14th November 2013
About 7 years ago

Option B sounds like the wisest in my opinion. You know her credentials and financials... it just make more financial and practical sense.

Mick Roberts

7:30 AM, 15th November 2013
About 7 years ago

Option 2 might be missing out again. Got tenants mates of her who do answer their phone to tell her, she says at 2pm yesterday 'I'll ring him', she still han't rang. I'm gonna' visit today on me travels, if I can't get hold of her, it might be No. 1.

Mark Alexander

7:34 AM, 15th November 2013
About 7 years ago

Reply to the comment left by "Mick Roberts" at "15/11/2013 - 07:30":

I got my wife to read this last night Mick, she says go for option 3. My wife is always right 🙂
.

Mick Roberts

7:38 AM, 15th November 2013
About 7 years ago

Ha ha, yeah mine is always right too, I have to just say ok, u r right & I walk away. I think all options are right, can't keep everyone happy, as daft as it sounds, the amount of calls I get every week for houses, I feel really bad letting 95% of them down for months on end.

Alan Loughlin

10:27 AM, 16th November 2013
About 7 years ago

I would suggest the rent is too low, we have this problem as well so have raised the rent, this has a doublé benefit in that it tends to sort the wheat from the chaff, leaving the most serious ones left, and of course raises the return, also we look to who is most likely to stay long term.

Mick Roberts

10:46 AM, 16th November 2013
About 7 years ago

Reply to the comment left by "Alan Loughlin" at "16/11/2013 - 10:27":

OOh no, not my tenants. U can tell them the rent is £200pw & they will only get £68HB & they still think they can afford it. They will say anything to get a house.
They don't understand they have to buy food, gas, water, elec, tv license etc. That's a minor to them, as long as they get them keys, that's all they care about.

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