Rental advice needed

F

Foolweary

Well-known member
I have a house in Marton I'd like to to start renting, but I have no idea of the going rate never gone down this route before. Only thinking of it now because im moving out of the area. Anyone give me some pointers on price?

It's a 4 bed semi detached, with parking space and gardens, any help would be appreciated.
 
HI, I would strongly advise you to rent through an agency, ok it’s going to cost you a small monthly premium but they manage everything for you and most importantly they ensure only the right person/persons rent it which I think is the most important thing and for such a small fee they carry out security/past history checks on any potential new tenant they also carry out regular inspections to ensure everything is as it should be.
The last thing you want is a family of scumbags moving in and wrecking it happens all too often these days.
A 4 bed property in Blackpool should fetch a decent price we get £575 p/m for a 2 bed house/property in Thornton and pay as little as £50 p/m to the agency to manage it and we’ve never had an issue yet in the 3 years we’ve been doing it.
 
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I have seen some 4 bed for 600 pcm. Jaffa has given you some sound advice there. A lot of agencies ask for guarantors these days for the properties which helps cover you
 
Jaffa_The_Hut said:
HI, I would strongly advise you to rent through an agency, ok it’s going to cost you a small monthly premium but they manage everything for you and most importantly they ensure only the right person/persons rent it which I think is the most important thing and for such a small fee they carry out security/past history checks on any potential new tenant they also carry out regular inspections to ensure everything is as it should be.
The last thing you want is a family of scumbags moving in and wrecking it happens all too often these days.
A 4 bed property in Blackpool should fetch a decent price we get £575 p/m for a 2 bed house/property in Thornton and pay as little as £50 p/m to the agency to manage it and we’ve never had an issue yet in the 3 years we’ve been doing it.
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Hello Jaffa, which agency do you use please, as my 3 bedroom in North Shore is going to be coming up for rental soon. I was with an agency years ago paid 10% & did nothing. I like the idea of a guarantor. Thank you for your advice.
 
Hi mate.

We use the square room on marsh mill Thornton absolutely no issues at all with them in the 4 years we’ve been using them so come fully recommended.
 
Worth speaking to Broomheads or Tiger if it's a Blackpool property

As a note of caution there are increased risks in letting at the moment due to Covid restrictions on eviction

Reinforces the value of proper vetting and / or taking out an insured rent option
 
It’s a very long time since I rented out a property, but Jaffa’s advice is spot on. Some agents also cover damage costs, or they did back then.
 
We rent out my 3 bed bungalow in Carleton through The Market Place. on Breck Road, Poulton. They sort out any repairs and carry out twice yearly inspections. Also the rent is paid by them into my bank, less their monthly fee. This saves a lot of hassle when you live 2 hours drive away.
 
Remember from 1st July before letting you must legally obtain an Electrical Installation Condition Report (EICR) from a qualified electrician. Any reputable letting agent will probably insist on this being obtained ahead of marketing. Make sure you obtain the maximum deposit you can too.
 
Just had an eicr cost £155 for 5years (and it doesn't become law untill April 2021),
I use broomheads I think their management charges are £80 every four weeks ,mines on Mythop road two bed two bath (one ensuite) I net £450 every four weeks (don't forget the taxman though)!also you have to pay vat on whatever yo get ,should net you around £550 every four weeks (I've had same tenant for three years now and due to renew twelve month contract October) good luck but use an agent👍.
 
bobby said:
We rent out my 3 bed bungalow in Carleton through The Market Place. on Breck Road, Poulton. They sort out any repairs and carry out twice yearly inspections. Also the rent is paid by them into my bank, less their monthly fee. This saves a lot of hassle when you live 2 hours drive away.
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What sort of monthly fee do they charge?
 
PETER SPRUCE 1 said:
Just had an eicr cost £155 for 5years (and it doesn't become law untill April 2021),
I use broomheads I think their management charges are £80 every four weeks ,mines on Mythop road two bed two bath (one ensuite) I net £450 every four weeks (don't forget the taxman though)!also you have to pay vat on whatever yo get ,should net you around £550 every four weeks (I've had same tenant for three years now and due to renew twelve month contract October) good luck but use an agent👍.
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Incorrect Peter it became law on 1st July for new lettings and you have to obtain EICRs for existing lettings from 1st April 2021.
 
Mogwai said:
Remember from 1st July before letting you must legally obtain an Electrical Installation Condition Report (EICR) from a qualified electrician. Any reputable letting agent will probably insist on this being obtained ahead of marketing. Make sure you obtain the maximum deposit you can too.
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You also need a Gas Safe certificate (if gas heated, £100) and an Energy Performance certificate (£95 if you have never had one), as well as the Electrical one (EICR). EPC actually came into force in April 2020. If you have an old fuse box for the electrical supply you will have to get it replaced with a new consumer unit with RCDs (£500). EICR needs to deem supply is safe before you rent but remedial works can be done within 28 days after first inspection. It’s wise to arrange to get the gas boiler serviced every year, yourself. Depending on rental contract you might be able to pass this cost onto the tenant. It is also mandatory to fit smoke alarms on every floor and carbon monoxide detectors where there is a boiler, gas fire or a gas cooker.

I would use a letting estate agent. They will charge you an upfront fee and then 10% per month. Deposit is usually one month’s rent but it needs to be held as a bond these days which involves a bit of legal stuff, agents are best left to that. Also the agent has to do the new Tory Gestapo stuff in ensuring the tenant has the right of abode in the U.K. Landlord’s insurance is also worthwhile, cover depending on what the agent covers, but you will need Buildings cover (£200 per year).
 
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The best advice I can give you is do it through an agency and don't fall into the trap of renting to a friend or family because they take the Mick even after starting off with the best intentions I did and it cost me a fortune and a friend
 
PETER SPRUCE 1 said:
Sorry missed the bit on new lettings 👍.
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I live next door to a rented house in the Marton Area was a nice house until it started getting rented out. Over the last several years there have been some right characters in it. The person currently renting is a complete scumbag with no respect for anything. The house which was nice is now looking like a slum and I know the letting agency are trying to get them out but are having all kinds of problems. Having said that we were told the renter was checked out and had references which if you know what happens there beggars belief.
I’ve now been told that The actual owner is planning on selling after this latest episode as they have had enough and they manage to get this person finally kicked out. I would imagine the house inside will be wrecked. As other posters have said though if you go through an agency and the agency does proper checks etc then you may be ok.
 
Living proof that you should use an agent, get good insurance and do background check on ANY tenants.

I have a tenant who hasn't paid rent for 2 years......were stuck in court and because of C-19, I cant get him out.
The few hundred pounds you will pay to the agent is well worth it.

I do have to say......check the local area you are in for the average cost of similar properties.
Renters will pay a premium if the house ticks all the right boxes......I get £625pm for a 3 bed terraced in St. Annes and never had a problem getting tenants.....it's getting them out that's been the problem.

P.S.......get Landlord insurance that covers lost rent and legal services (most do now)....You just get the agency (or you can do it yourself) to do a background check (cost is £25 on average....check out the Landlords association).....and this will cover you for any problems......also look at the different types of services for deposits........you will need to put it into a scheme......
 
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