Ann

Registered with Property118.com
Friday 21st June 2013

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 7

Ann

11:15 AM, 24th August 2020
About 2 months ago

What do I need to know about renting to unemployed people?

It works differently in Northern Ireland but thanks for the info anyway.... Read More

Ann

10:20 AM, 24th August 2020
About 2 months ago

What do I need to know about renting to unemployed people?

We've 3 tenants on Universal Credit, 2 single parents and a family who receive due to low income jobs. The main benefit as a Landlord is that 85% of the rent is paid directly to us. In the current climate it's been reassuring that we are guaranteed rental payments.
Difficult to say for certain with the Insurance, our are covered as that was the circumstance under which we took out the policy and all insurance differs.... Read More

Ann

12:27 PM, 6th July 2020
About 4 months ago

Tenant background checks reliable?

We had a proposed tenant who passed the reference checks but a Google search revealed a reasonably recent newspaper story covering his conviction for fraud! Our man continued to deny lying on the application that he'd no criminal convictions and also became threatening and abusive. So I'm with you on being sceptical regarding referencing too. We did not use the referencing company in question. I'm certainly glad I chose to do some investigating of my own.... Read More

Ann

11:56 AM, 24th January 2020
About 9 months ago

3% rent increase reasonable?

Many thanks for the comments, much appreciated. The tenants are all good and are minimal work. We are happier having long term good tenants and all of the current tenants want to be long term, we definitely do not want to put them off staying but don't feel an increase after 3 years in unreasonable. We'll exclude the annual increase idea though.
The rents in the area are variable but I'd say we are currently under market rate for all of our properties by at least £50pcm. The tenants look after the properties well, which is more important. Additionally, rental costs here in NI are significantly lower than in England so a 3% increase will only add approx £15pcm. All of the tenants receive UC which covers their rent, and does increase with inflation. Whilst our landlord costs i.e insurance and rates (we don't have Council Tax) have increased. An increase is really to keep our yield/return in balance, it doesn't increase it.
So, we just need to confirm the exact process to do so.... Read More

Ann

10:53 AM, 7th January 2014
About 7 years ago

Residential mortgage but renting the property without consent!

Darren
As many lenders have no objection to issuing consent to let it would be useful to know who your lender is, fellow readers may know their policy. Once you know this you can work out your best option. It could be as simple as asking for consent (from today). Is it not in the FAQ on the website? Ask at your local branch or get someone to do it for you. I paid £95.00 every 12 months for permission.
I previously worked in an Admin department for a high street bank dealing with these requests and the criteria/process was; account in arrears = no, consent given (charge fee & update correspondence address). That was it.
Your lender may not have such a straightforward policy but until you find out you cant move forward or get any sleep!... Read More