See the thread I've just posted about bailifs etc., I know of several people who have been left with a string of debt collectors, bailiffs etc. chasing ex-tenants for money they'll never get back.

Some tenants use rental properties purely for having an address from which to run up big debts - I have a friend who evicted tenants 6 months ago, but the new occupier is still regularly receiving mail/visits for the previous tenant, who it seems has run up huge debts...

Martin

you are so right martin.
The law is now very heavily weighted to the tenants side.
Paul - this can usually go quite well, but in some cases can be downright horrible.
I've seen LL's eventually lose the home they were renting out, purely down to finances, but that is at the extreme end of the scale.
Worst I reckon is you'd have to redecorate/replace floor coverings etc.
Do ensure you have a GSC for the property (LL's can & have been sued over not having a current one)
From next year, you must also have a full electrical check & cert (not sure of date - airbrushed from my mind atm)

Finally - read here for advice to TT's: http://www.debtquestions.co.uk/legal_rights.php

Paul, we looked very deeply into doing exactly this recently. Instead of selling my house we were keen to rent it out. Needless to say, after talking at length to an agent in Waterlooville, we decided there were too many expenses/pitfalls and we'd be better off using the equity from my house to reduce the mortgage considerably in our new house (when we get one!).
Funny thing is, we're now temporarily renting from that same agent! ;)
Happy to discuss mate.
Paul.

The timing of this thread makes me laugh.
I just found out over the weekend that a house I rent out has been used as a pot-farm.
House is now a wreck and the furniture has all gone. My business partner is investigating the costs of fixing and is experiencing a severe case of the munchies...

Trust you Chi! Did you get any gear though? :frog:

sadly, no. The police have taken it all "into evidence".
We do have about 2 tonnes of topsoil in the front yard though.

True, but there's very little you can do to spot bad debt building up - my friend's ex-tenant is being chased by British Gas, Council Tax, NatWest, 3 debt collection agencies, Yell.com, DVLA, Congestion Charge and a timber merchant....
It makes the new tenant want to give up and leave, which is a shame as they seem quite good, and it lives a really nasty smell hanging over the house...

A agent should do periodic checks o the house to see if it is sitll in good condition, If you let it your self you still can do the checks yourself, this should avoid certain problems

Bloody hell Martin. How did you nip forward 11 minutes and guess exactly what what Red-Duc was going to say ???

Do us a favour...can you nip forward to next Sunday morning and tell me what Saturday's lottery numbers are going to be :lol:





Frank will be a long in a minute telling us it's all down to resetting the server clock, or some sane, logical explanation like that, but it's nice to dream

Just one of my many talents Jools..... :lol: