Yes, I think I’m in landlord hell. So far, as a landlord, I’ve had nothing but grief. Damn this industry; damn it to hell and back, and then to hell again.
Letting agents charge too much
Seriously, how do letting agents justify their prices? They charge between 10% to 15% of the annual rental income, for what? They find you tenants- big deal. Demand for rental properties is so high right now that any idiot could find tenants. Once you actually need their help (after they’ve received their commission), they’re nowhere to be seen and they’re less than helpful when you can get a hold of them.
Why don’t letting agents ever call back?
After complaining to my agent yesterday about a payment issue, I was told that the manager of the branch would call me so he could personally address the issue. For a moment I felt important. Of course, the idiot never called. However, I had a 30min discussion with my dumbass of a letting agent. He cleared a few things up for me by answering the questions that needed to be answered E.g why am I getting multiple payments per month? Read on for answers…
My tenant was too stupid to accurately declare how much money she earns
I received a £250 cheque from the social benefit on behalf of my DSS tenant. I assumed I would get another cheque from the DSS in a week or so, to cover the rest of her allowance for the month. Social benefits some times split their payments up (God only knows for what reason). So for example, on the 15th of one month I would receive £250, then on the 25th I would receive another £250, and after that my tenant would pay the shortfall (the amount that’s left to pay). It’s such a stupid and complicated system for a landlord. I only want one fucking payment per calender month.
My agent explained that my tenant filled in a form (some random form she had to fill in when applying for her benefits) incorrectly, and actually declared that she was earning more than she actually is. Smart, aye? So, the council wasn’t actually going to send me a 2nd cheque, the £250 was all they were going to send me for the entire month, while my tenant was expected to pay the rest. Of course she isn’t actually in a financial position to do that- even though she declared she was, accidently.
How stupid do you have to be to declare an incorrect salary?
Very. It was obvious I was providing tenancy to a very dull crayon. I only see a uphill struggle from now. Next she’ll be telling me that she didn’t realise she had to pay rent every month.
I requested one payment per calender month
I’ve dealt with DSS tenants before and it’s certainly not the easiest of processes. It’s not the actual tenants that cause problems (all the time), it’s the entire setup with the council. It’s just, well, stupid in the sense that it’s overly complicated. Before accepting a DSS tenant I made it clear that I would only accept a DSS tenant if they arrange it with the council so that I receive ONE entire payment per calender month. I don’t care how they do it, just as long as they arrange it. The problem is that the council give my tenant a certain allowance, because the monthly rental cost exceeds my tenant’s allowance, she had a shortfall to pay every month. I didn’t want two seperate payments, I wanted one so payments were easy to keep track of. My agent said he would arrange it, and that’s the only reason why I accepted the DSS tenant. Did he actually make it happen? Fuck no. I’m sitting here like a lemon waiting for two payments every month now. I’m pretty certain agents will say almost anything in order to get one of their clients into your property.
Right, that’s my day done, folks!
Disclaimer: I'm just a landlord blogger; I'm 100% not qualified to give legal or financial advice. I'm a doofus. Any information I share is my unqualified opinion, and should never be construed as professional legal or financial advice. You should definitely get advice from a qualified professional for any legal or financial matters. For more information, please read my full disclaimer.