fandomsecrets | [ SECRET POST #3132 ]

[ SECRET POST #3132 ]

⌈ Secret Post #3132 ⌋

Warning: Some secrets are NOT worksafe and may contain SPOILERS.

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10. [repeat]

Notes:

Secrets Left to Post: 03 pages, 068 secrets from Secret Submission Post #448.
Secrets Not Posted: [ 0 - broken links ], [ 0 - not!secrets ], [ 0 - not!fandom ], [ 0 - too big ], [ 0 - repeat ].
Current Secret Submissions Post: here.
Suggestions, comments, and concerns should go here.

Flat | Top-Level Comments Only

Oh god, I'm not meant to be this old.

It's in one of the most diverse places in europe, and huge redevelopment in the area means it's a great place to invest in. Not exactly somewhere you'd raise a family, but hell it's a large apartment block new build aimed at professionals with excellent security.

Any home owners got any advice on what I'll need to prepare for a new place that might not be obvious. And on letting to tenants.

1. Always have a lease. Yes, even fora sublet. Check out local landlord/tenancy laws, and search for templates you can modify for the region/your needs.

2. Get three references. Two former landlords and current employer. Not employed? Not your tenants.

3. Rent should be given to you in post-dated checks at the signing of the lease. If any of them bounce, you can begin notice then.

4. If you can't check the whites of their eyes yourself, get someone in the area you trust to physically meet up with the potentials and verify they are sane, well-dressed, employed, etc.

5. Security deposit is usually first/last month's rent.

6. Do your homework and check what the general vacancy and rental rates are in the same neighbourhood. If there's a high vacancy rate, you don't want to price yourself out of the market; if there's a low vacancy rate, you don't want to be fielding a hundred applications long-distance.

Thanks. Yeah was planning on 1, 2, 4, and 6. Six shouldn't be an issue in the slightest, looked heavily into the market, and it's central London so I don't perceive nay issues finding a subletter. Preference is probably going to be a key worker who does shifts, because they tend to be more reliable, and will understand the nature of shift working.

AYRT

Always get the security deposit; if your tenants leave it in better condition then they found it, you can always return it (don't spend it LOL). It serves 2 purposes: proves they can come up with the necessary, and aren't likely to stiff you on the rent and 2) you'll more than likely need it, for general wear and tear/paint chips/picture hanger holes and other minor repairs.

Also forgot to add, if they complain something is broken, FIX IT ASAP. Twofold reason again: You want to keep them happy while they're living there (and keep them living there) and B) when/if they leave, you can get a good reference from them.

General wear and tear is exempt from reclaiming the bond, you're thinking beyond general wear and tear.

Even if you like and trust them, check in on the condition of the apartment every once in a while. My parents had no idea their tenants had done thousands of dollars worth of damage until they were in the process of moving out.

To clarify, they'll be a subletter not tenant, i.e. I'll be renting one of the room sout to them.

Take plenty of pictures of the apartment/room before anyone moves in, so if anything happens, you'll have proof of the original condition. Any preexisting flaws should be noted on the contract.

Adding to this, set the date feature up on your pictures so the date is clearly marked.

Yes, this. It's a good idea to do a walk-through in the presence of the tenants, and sign a document with them attesting to preexisting flaws and the initial condition of the apartment.

Also, IDK what the law says in your neck of the woods, but in the US a security deposit is supposed to be placed in escrow, not commingled with your personal funds.

New buildings? My thoughts immediately went to the new Arsenal's Emirates Stadium.

Haha, not quite. I used to live in Islington though. What ends you from?

Oh, I'm not in the UK. It's just that I talked about the business aspect of EPL with my friend, and the real estate was a part of that.)

Flat | Top-Level Comments Only

[ SECRET POST #3132 ]

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