spider1 Posted January 21, 2013 Share Posted January 21, 2013 thanks for that will have to do a bit of research I think Main thing is watch who you put in. No under 25 . See the people yourself before letting and tell them you will let them know if unsure. Link to comment Share on other sites More sharing options...
shaznay Posted January 21, 2013 Author Share Posted January 21, 2013 Main thing is watch who you put in. No under 25 . See the people yourself before letting and tell them you will let them know if unsure. absolutely its only a one bed flat so wont appeal to anyone with children I wouldnt think and definatley no smoking in property and NO pets is a must its in a nice quiet area so hopefully will get someone decent Link to comment Share on other sites More sharing options...
GrannyGranny Posted January 21, 2013 Share Posted January 21, 2013 Sounds like halifax are quite flexible. Rather keep your business then you having to sell up. What area is it in? Link to comment Share on other sites More sharing options...
retired Posted January 21, 2013 Share Posted January 21, 2013 You could try selling it. It will either sell or it wont. If it does not sell then rent it. The market is not as static as the media would have you believe. Winter is always a bit slow for sales but they are selling and the ordinary working peoples price range are the ones that are selling. A 1 bed flat should be no problem. Renting can be a bit of a nightmare if it goes wrong and everyone seems to wanting to buy to let at the moment. When you get market saturation rent values start to tumble. Try selling it and sleep soundly at night. Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted January 21, 2013 Share Posted January 21, 2013 A 1 bed flat should be no problem. NB: if it's a flat, not a house, there may be other problems involved in sub-letting. A long-lease's covenants often prohibit or restrict sub-letting, you see. Link to comment Share on other sites More sharing options...
RWM1967 Posted January 21, 2013 Share Posted January 21, 2013 Yes, check your lease to see if it is allowed. Sometimes the freeholder will wish to charge you a huge fee (each year) for allowing you to let the flat, and this may make it financially unviable. If you let to someone on benefits make sure they are over 35 (as Housing Benefit is restricted for single people under 35). Always try to get a tenant that provides a suitable rent guarantor (if their friends and family don't trust them enough to be their rent guarantor, then why should you trust them to pay?). Link to comment Share on other sites More sharing options...
shaznay Posted January 21, 2013 Author Share Posted January 21, 2013 You could try selling it. It will either sell or it wont. If it does not sell then rent it. The market is not as static as the media would have you believe. Winter is always a bit slow for sales but they are selling and the ordinary working peoples price range are the ones that are selling. A 1 bed flat should be no problem. Renting can be a bit of a nightmare if it goes wrong and everyone seems to wanting to buy to let at the moment. When you get market saturation rent values start to tumble. Try selling it and sleep soundly at night. I'd rather keep it, thinking long term for my retirement needs more than anything, i dont have a pension and the income will be more than welcome I am going to be buying a property with my partner so maybe in 15 years when we hit retirement we can sell one and live in the other its also goin to be my kids inheritance hopefully ---------- Post added 21-01-2013 at 20:14 ---------- NB: if it's a flat, not a house, there may be other problems involved in sub-letting. A long-lease's covenants often prohibit or restrict sub-letting, you see. in the area where my flat is, there are quite a few of the same type as mine all built at same time and there are a lot being rented out so would imagine they have had the go ahead Link to comment Share on other sites More sharing options...
Margarita Ma Posted January 21, 2013 Share Posted January 21, 2013 It is very important to take a deposit and just as important to lodge it with a deposit scheme. Make sure you make it large enough to cover any damage. The government one is probably the best and it is free. You also need good info about Ladlord's responsibilities so get on to the government site Assured and Assured Shorthold Tenancies information for landlords. You can download and print out all the stuff you need and need to know from Gov. sites if you can be bothered to read them, its a bit of a trawl but worth it in the long run. Link to comment Share on other sites More sharing options...
shaznay Posted January 21, 2013 Author Share Posted January 21, 2013 It is very important to take a deposit and just as important to lodge it with a deposit scheme. Make sure you make it large enough to cover any damage. The government one is probably the best and it is free. You also need good info about Ladlord's responsibilities so get on to the government site Assured and Assured Shorthold Tenancies information for landlords. You can download and print out all the stuff you need and need to know from Gov. sites if you can be bothered to read them, its a bit of a trawl but worth it in the long run. thank your for help, will look into this ---------- Post added 23-01-2013 at 11:46 ---------- NB: if it's a flat, not a house, there may be other problems involved in sub-letting. A long-lease's covenants often prohibit or restrict sub-letting, you see. I have spoken to the landlords and they have no problem whatsoever as long as the tennants dont cause a nuisance to the other residents not sure if would need this in writing though Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted January 23, 2013 Share Posted January 23, 2013 in the area where my flat is, there are quite a few of the same type as mine all built at same time and there are a lot being rented out so would imagine they have had the go ahead Please do not just 'imagine'. You'll risk major problems with the freehold reversioner. Instead, get the facts; read your long-lease. ---------- Post added 23-01-2013 at 12:27 ---------- I have spoken to the landlords and they have no problem whatsoever as long as the tennants dont cause a nuisance to the other residents Good. not sure if would need this in writing though Yes- you must definitely obtain written consent; and keep it safe! Link to comment Share on other sites More sharing options...
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