I’m Asking For The Maximum Tenancy Deposit – How Much?

Rent Guarantee Insurance?
Happy new year.

p.s

Your ex-tenants send a big 'phuk-you' for providing their very merry Christmas at your expense.
The presents were wonderful, the turkey delicious and the case of champagne will keep them going well into the New Year.

As you aren't bothering to chase them for the arrears, costs, etc they assume it is all OK to do it again and intend to shaft a landlord every Christmas for the forseeable future.

It is unfortunate that future tenants will also have to pay the price of higher rents, deposit etc but who gives...?

If you ever feel like giving away another grand and clearing up other peoples grease and shit then just give me a call.

Merry Easter!

I am writing in reply to the leading story about shoddy tenants, it is pointless using other adjectives. The solution to your problem is to use, at a percentage of the rental income, a decent letting agent. I say decent, as I have been stung by many unscrupulous agents, here in Newark, being foolish and leaving Martin and Co. to go to a slightly cheaper agent. That was when my troubles started! They managed to do inferior repairs, kept properties empty, and in one case, Belvoir in Newark, told me a property was empty, but had a tenant and were keeping the rent! I could not check, as I am disabled. So I have now returned to Martin and Co. in Newark, who are efficient and honest

My present letting agents 'vet' all prospective tenants and I has insurance for, non payment, repairs and whatever else. A good agent, such as mine will make sure that the tenant is always kept happy, all repairs are done as quickly as possible, and will help a tenant by all means possible, if the poor unfortunate becomes unemployed, and therefore needs to rely on the meagre allowance for living, including rent, from the state. Before I get ranted at, I know that it was wrong of the DSS to pay the rent to the tenant, and not to the landlord as I have lost out and had to rely on insurance for the rent, and insurance companies take forever, but bad tenants are usually dissuaded by a decent Letting Agent. A good letting agent is a priority and my agents don't receive payment by me, they deduct it from the rent, therefore I don't have to pay, on the very rare occasions they don't get paid. I am quite certain that if I had not returned to Martin and Co. the other agents would have made me go under! Philip, at Newark is fantastic.

With most agents you wont pay their fees unless you are getting rent. We only take a percentage of what we collect in so it is in our interests as much as the Landlords' not to get tenants that default!

I will agree that using an agent wont stop it occurring - the only way you could be sure was rent guarantee insurance.

Yes and file for Possession if needed, all at no extra cost to the Landlord :-)

I cant imagine that any agent that charges for such a thing is going to encourage repeat business whereas on the odd occasion we have had such a tenancy the Landlord has been happy to leave the property in our care for subsequent tenancies, based on the understanding that it was beyond our control and that we did everything in our power to resolve the situation as quickly as possible and at no further charge (very important when income is zero!)

I'd generally advise against using real estate agents unless you're abroad/have special needs, especially if they advertise via spamming a blog comment section.

This is where your money mostly goes to. Their marketing. Not looking after your property.

How is that an advert?? I havent named my agency or even said what area I am located in. I am simply demonstrating that some of us agents offer good value for money! Im currently off work following surgery, so have plenty of time to interact with Landlords - something I happen to find interesting!! You have a strange notion of 'marketing' ;-)

Ohhhhh.... You see I am so gullible I just assumed he was a genuine Landlord with a rare positive Agent review ;-)

I am a genuine landlord, and am merely pointing out my experiences. I am merely passing on the shambolic nature of certain bad agents and also pointing out that there are good ones out there, but if you don't want to benefit from my bad experiences with crooked agents, it is your own fault. I am merely trying to help!
Matthew

Good to hear Matthew :) Shame on Armin for being so cynical ;-)

I'm a programmer in the e-marketing industry. I'm very familiar with the underhanded methods employed nowadays by promoters to fake positive reviews/forum contributions in order to drive traffic / generate leads.

If long established contributors in a forum highlight companies in positive comments/reviews by name, then that deserves some trust/taking on faith.

But the moment you see lots of gushing admiration for a named company/person in any setting where there's no real contribution history by the person writing the post, you need to be very cautious about trusting that information.

I am a retired, disabled detective, virtually immobile, which is why other agents have been able to 'take me to the cleaners' which is why I am so grateful to Philip. You will note that I haven't named the two really bad agents in Newark, but feel that Philips honesty should be rewarded!

Tendrind dc are going for the maverick approach to council tax once the property is vacant u r liable. Interestingly they are now quoting high court precedent. This was based on a commercial let which had turned periodic where tenants handed back the keys they state any tenancy agreement r bound to same decision. This basically states that when tenant gives notice to quit from that point ur liable to council tax. Can't c how this works I can't b only landlord that has tenants giving notice and moving onto the but still liable for rent bills etc whilst still in contract for those of you interested look up macattram v London Borough of Camden I would be grateful to any suggestions for fighting council

@Landlords

Regarding the update

Update: on the 1st June 2019 the “Tenant Fees Act 2019” came into force; the act stipulates that landlords in England that start a tenancy on or after the 1st of June 2019 cannot take more than five weeks’ rent for the tenancy deposit where the annual rent is less than £50,000, or six weeks’ rent where the total annual rent is £50,000 or above. Taking a deposit that exceeds to maximum cap can lead to penalties starting from £5,000.

Please note that for all other tenancies started before 1st June 2019, the legislation applies from 1st June 2020 for such tenancies