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Cut losses and start again advice needed

J

Joe Forrester

New Member
Hi,

This maybe a bit long winded but would really appreciate a few of peoples insights and advice on the issue am having with my property at the moment.

i have a small two up two down property on the wirral in birkenhead, had it roughly two year now, first year i accepted guarenteed rent for first 12 months, and now the guarnteed is over is where my problems are.

Ive had two tennants (housing benefit) first tennant left property in a state and now the tennant who has just left has left it even worse, filled my backyard up with household waste to just below the window (letting agency said they would get her a bin and never did) but still a bit excessive and also smashed my window inside for good measure, oh and obviously not been paying rent since shes been there.

letting agency who ive used for both tennants hasnt collected a deposit, nightmare to get hold of at time and because of the latest tenant not paying her rent even when i was still on the guarenteed at the time didnt send me a contract through to go onto the normal rental contract of them taking 10% every month.

This has been my first investment property but thinking with all the trouble ive had with it is to just cut my losses sell it and recoup my money maybe a bit more and start again.

Any views would be appreciated and thanks for reading it all if you got down that far
 
Lime Auction House

Lime Auction House

Member
Forum Partner
We do lots of business in the Wirral.

It's sad you have experienced such bad luck and problems on your first property, but it's something we all go through (even seasoned professionals like me).

Think of it as a long term investment.

What agent are you using? You could private message me if you want and I can recommend some others for you.



Sent from my iPhone using Property Forum
 
Last edited by a moderator:
J

Joe Forrester

New Member
We do lots of business in the Wirral.

It's sad you have experienced such bad luck and problems on your first property, but it's something we all go through (even seasoned professionals like me).

Think of it as a long term investment.

What agent are you using? You could private message me if you want and I can recommend some others for you.



Sent from my iPhone using Property Forum
Hi,

Thanks for relying il DM you.

Cheers
 
T

totallyproperty

Administrator
Staff member
Hi,

This maybe a bit long winded but would really appreciate a few of peoples insights and advice on the issue am having with my property at the moment.

i have a small two up two down property on the wirral in birkenhead, had it roughly two year now, first year i accepted guarenteed rent for first 12 months, and now the guarnteed is over is where my problems are.

Ive had two tennants (housing benefit) first tennant left property in a state and now the tennant who has just left has left it even worse, filled my backyard up with household waste to just below the window (letting agency said they would get her a bin and never did) but still a bit excessive and also smashed my window inside for good measure, oh and obviously not been paying rent since shes been there.

letting agency who ive used for both tennants hasnt collected a deposit, nightmare to get hold of at time and because of the latest tenant not paying her rent even when i was still on the guarenteed at the time didnt send me a contract through to go onto the normal rental contract of them taking 10% every month.

This has been my first investment property but thinking with all the trouble ive had with it is to just cut my losses sell it and recoup my money maybe a bit more and start again.

Any views would be appreciated and thanks for reading it all if you got down that far
Welcome to the forum and sorry to hear you've had such a nightmare! I would highly recommend talking to High Court Solutions who will be able to help you with recovering rent arrears (even though the tenant has now left they can still chase this for you). They are experts at dealing with problem tenants in terms of fast evictions and recovering lost rent. There's a link on the homepage about recovering debt or just give them a call. High Court Solutions.
 
J

Joe Forrester

New Member
Hi,

Thanks for replying, il look into that then, appreciated.

Cheers
 
L

Longterminvestor

Administrator
While many seasoned BTL landlords will at some point come across "problem" tenants you seem to have been unlucky at the start of your journey. Put this down to experience, make a list of the mistakes made or things you would do differently but don't lose your passion for the BTL market. As someone said, there is still a chance you could recover some of the rent owed and once the house is cleaned up just think of it as a new start for you.

Next time maybe ask for references?
 
R

realdeals

Active Member
Learn from any mistakes which have been made, do up the house, dust yourself down and start again. Next time see if you can get references for possible tenants.
 
D

diyhelp

Active Member
Live and learn and don't take people at face value - make sure you get tenant references in the future.
 
N

nmb

Well-Known Member
As long as you learn from each experience, good and bad, at least you gain something from it. If you ask any long term landlord they will be able to tell you at least one similar story. Why did they change the system where housing benefit was paid straight to the landlord - bizarre!
 
L

lookinginvest

Member
If you can recover any outstanding moneys go for it otherwise just put it down to experience.
 
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