Landlords - use agent or DIY?

[Brains]

I hope you get it sorted.
We currently have fully managed let, with a guaranteed monthly rent paid to us. It costs more than self management, but the peace of mind after the last two tenancies is worth it to us. For example, one of the last pair of boneheads removing the smoke alarm (in a multiple occupation block), "because the beeping was annoying".

For many years I have added a "stupidity tax" clause to my tenancies.
£20 for each and every smoke/monoxide alarm not working,
£10 for blown lightbulbs.

I also inspect every property at least once a year and test each one. I deliberatly invoice the tenants if I find flat, or worse still, missing, batteries.
The most recent property has mains alarms which are the way to go as they are also connected to the internet so can alert me and the tenant if they go off

 

[Mrs M]

We’ve only had our property for just over 3 years and 2 tenants.
First tenant was with us for 8 months then bought own place, secretly happy to see them go as they were a bit of a pain, always contacting us for trivial issues and breakages, also took 2 days to clean up after them
Current tenant is a single guy whose wee boy stays over at weekends. Great tenant who keeps the place spotless and does any odd jobs himself. When he was going to leave for a cheaper let (prices have dropped dramatically up here since the oil crash) we were happy to drop the rent to keep him.
We’d rather have a great tenant paying less rent than a PITA paying top price

 

[arranandy]

I own 5 flats which I rent out. I use an agent to manage them. Costs me about 7% of the monthly rent for each apartment. When I just had 2 flats I used to DIY but I found using the agent was less hassle.
Never really any serious issues with any of my properties. 2 I rent out as part-furnished and the other 3 are un-furnished.

 

[Brains]

I own 5 flats which I rent out. I use an agent to manage them. Costs me about 7% of the monthly rent for each apartment. When I just had 2 flats I used to DIY but I found using the agent was less hassle.
Never really any serious issues with any of my properties. 2 I rent out as part-furnished and the other 3 are un-furnished.

Only 7% ?
That is a good deal. Around here the charges start at 12% and are normally 15%
If you do holiday lets the cost is around 25%

 

[Drago]

For many years I have added a "stupidity tax" clause to my tenancies.
£20 for each and every smoke/monoxide alarm not working,
£10 for blown lightbulbs.

You charge your tenants if your lightbulbs fail, or if your batteries run out?

 

[Brains]

You charge your tenants if your lightbulbs fail, or if your batteries run out?

Consumables are not the responsibility of the Landlord on a normal STA agreement.

When the tenants take over the property it is the Landlords responsibility to ensure all the lights and alarms work.
When the tenants hand back the property it is their responsibility to ensure all the lights and alarms work

They can live in the dark if they wish, but they may not disable the alarms.
Should a fire break out and the alarms are found to have been tampered with (by battery removal for example) then the tenants would be 100% personally liable for all damage.

In 40 years of running properties and well over 100 tenancies, I've taken one tenant to court, three I have withheld all the deposit, and probably 5 more where I have made deposit deductions. Therefore my experience is that over 95% of tenants are good, reasonable, responsible people.
(I make a point of bringing the 'stupidity tax' to their attention, I don't want to be put in a position of dealing with their stupidity)

Anyway; the days of buying light bulbs with the weekly shopping have gone, the new cold LED's last for years, I suspect many of the next generation of students will never have changed a bulb in their life and will call our an electrician if the light stops working. The same applies to battery alarms, any new build or major renovation has to have mains powered alarms fitted, so give it a couple of decades and the battery alarm will be consigned to specialist shops.
I'd guess the next time the STA agreement is updated things light light bulbs and alarms may no longer be classed as consumables

 

[Arjimlad]

Spoke to a landlord today who did DIY late last year using an AST she'd got more than fifteen years ago from a solicitor. Had no idea at all about the basic requirements of TDS, EPC, GSC, Government booklet etc and is now needing a lot of help putting things right. She cannot use the s21 process ever for this tenant.

Basic stuff on the .gov website that you can google easily. Extremely frustrating!

 

[Brains]

Spoke to a landlord today who did DIY late last year using an AST she'd got more than fifteen years ago from a solicitor. Had no idea at all about the basic requirements of TDS, EPC, GSC, Government booklet etc and is now needing a lot of help putting things right. She cannot use the s21 process ever for this tenant.

Basic stuff on the .gov website that you can google easily. Extremely frustrating!

I would strongly suggest all Landlords should be a member of the NLA or the NRA.
I would equally strongly suggest that no tenant should touch a Landlord who is not a member with a barge pole.
(Or an Agent who is not a member of ARLA)

Both the NLA and the NRA provide (for members only) on line AST's (Assured Shorthold Tenancy) agreement where you just fill in the gaps.
You also get a reduced price on the Tenancy Deposit Scheme (TDS) certificates

 

[Brains]

I think a large part of the problem with Landlords/Tenants is that there are
A) More dodgy tenants out there that there are dodgy Landlords
B) No one is teaching either side of what they should be providing to the other. It should, be somthing taught at school.

For example EVERY potential tenant should know never to even look at a property, no matter how cheap where:
There is no proper AST
No EPC
No TDS
No Deposit - really, why not ??
No written inventory
No up to date gas certificate

I'd also be vary warey of any property where the Landlord is also the agent, can they really do credit checks, passport checks, right of abode checks etc themselves ?
... and if the landlord says ' no need....' then I'd run a mile.