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Absolute proof that LRS does work - all landlords and letting agents, please read this ........
03/01/2014
6:59 pm
Paul Routledge
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Lyndon,

Quite often it is difficult to know when to draw the line in the sand because they minute you do you know the rent will stop entirely and you will struggle to see another penny until they are evicted.

 

Paul Routledge CEO
Tenant Referencing UK.Com
03/01/2014
8:07 pm
LyndonBaker
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Paul Routledge said
Lyndon,
Quite often it is difficult to know when to draw the line in the sand because they minute you do you know the rent will stop entirely and you will struggle to see another penny until they are evicted.
 
 

I couldn’t agree more, Paul. I am reminded of two situations many years ago when I ran a newsagents. In the first a “Doctor” who was an international person, didn’t pay his paper bill. My business partner insisted that he would (eventually). After it hit £25 (some six weeks of paper and delivery charges) I started action using an NFRN template letter and stopped delivery. My business partner argued that we would lose the Doctor’s custom if I sent it. My reply was that is the idea since we are not just buying his papers for him, we are paying for them to be delivered too! I then took out a summons and had a call from his solicitor to say that he had been consulted (at a cost of £25) and had advised him to pay the bill and court costs. So being reluctant to pay cost him £50 plus court costs.

The other was our milkman (wholesale) who knew of this case. He had a customer that was still receiving milk deliveries but owed hundreds of pounds. He too was not sure when the cut off point was. We sat down and worked out how much it was costing him to supply this “customer” and then I typed an undated “Notice of Intention to Recover Debt” letter. A week later he told me he had sent it and stopped deliveries at the same time since he realised that he would continue to lose money unless he put a stop to it.

 

To use your own analogy, Paul, allowing tenants to accrue arrears is similar to customers who do not pay for the first course, being given a main, desert and cheese and biscuits before being invited to brunch the next day! We each have out own cut off point. In the first case I referred to, I suggested a Section 8 and Section 21 some months ago. The landlord was concerned that once they were issued the tenant would stop paying altogether. Now, many months later, the mortgage company is taking action to repossess the house AFTER charging the owner many “fines” for late payment.

 

We each have our own cut-off point, but my personal opinion is the sooner action is taken, the better. To use a legal phrase, “It is our duty to minimise the loss”.

 

04/01/2014
7:34 am
PaulBarrett
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Lyndon I bet you advised this dopey LL that having a tenant without RGI on them was risk.

Clearly the idiot LL didn’t take a blind bit of notice of you and as a consequence will possibly have his personal financial circumstances destroyed………………………………………..all for the sake of one wrongun tenant.

It would have cost him £99 to protect himself

I suppose he is one of the many idiot LL that think £99 is a waste of money for a RGI policy unless of course they have the resources to pay the mortgage whilst evicting a tenant.

I am just simply astounded by the amount of IDIOT PRS LL out there that think they don’t need RGI.

If you don’t have RGI you must keep available liquid assets to pay the mortgage in case the tenant doesn’t and you have to evict.

But that is a lot of money you need for every tenancy as it may have been used every tenancy if you are unlucky.

I don’t have such spare funds to waste on a tenant so I use a RGI policy to have the same cover for £99 per year.

I don’t need to keep spare funds avaialble.

I wonder which LL is the clever one!!??

 

04/01/2014
11:43 am
rybeconline
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I am just simply astounded by the amount of IDIOT PRS LL out there that think they don’t need RGI.

If you don’t have RGI you must keep available liquid assets to pay the mortgage in case the tenant doesn’t and you have to evict.

 

I completely agree! RGI is the way to protect yourself when things have gone sour.  I understand that many LL’s have more than enough outgoings but what price can you put on peace of mind??

When you consider how much you stand to lose then RGI is an extremely cheap way to guard yourself.  At Rybec Homes we always offer our LL’s RGI outlining the pros and cons.  If then they choose not to take RGI and end up out of pocket we can rest easy knowing we did all we could to try and protect the LL.

Kayleigh Tewkesbury

Rybec Homes on line partners with landlordreferencing.co.uk

Advertise your ‘let’ until ‘let’ on Rightmove and Zoopla for £25+vat

04/01/2014
12:34 pm
LyndonBaker
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PaulB, Happy New Year to you – I agree entirely but while landlords see the need for buildings insurance, they ignore/reject the need for RGI. Since (unless anyone can correct me) it is tax deductible there is not sound reason against it.

I look forward to the LRS RGI.

07/01/2014
12:51 pm
Paul Routledge
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Do you take DSS tenants? Please read this : http://www.landlordreferencing…..s-tenants/
 
Paul Routledge CEO
Tenant Referencing UK.Com
07/01/2014
3:11 pm
PaulBarrett
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W

LyndonBaker said
PaulB, Happy New Year to you – I agree entirely but while landlords see the need for buildings insurance, they ignore/reject the need for RGI. Since (unless anyone can correct me) it is tax deductible there is not sound reason against it.
I look forward to the LRS RGI.

When you think about it;  only 150000 tenants were evicted last year for rent arrears totalling 442 million pounds.

Now I’m sure a RGI policy on each of the 4.2 million private tenants would surely provide massive profits for RGI insurers.

Lets say the policy was £50 for a years cover for £50000 per claim.

More than enough profits for underwriters even after claims!!

RGI would save PRS LL so much grief!

Why don’t LL seem to appreciate the risks they are running with a non-RGI tenant.

It is akin to a calculated gamble.

RGI solves the problem if the gamble fails.

You get to recover your losses; that to me is a good business model.

with no RGI the LL is exposing themselves to massive financial risk.

Is ONE tenant really worth risking everything you have worked for!?

 

 

07/01/2014
6:10 pm
Heritage Estate Agents
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The trouble is that landlords will not pay for RGI – simples!  We offer it as a freeby for the first six or twelve months to landlords.  After that it can be renewed at a cost, which is not major, when you compare it to the amount of financial damage rent arrears can do to a landlord. We try really hard to get our managed portfolio to renew their rent guarantee and the most common comment we get from landlords is ‘They have shown us good will, they have been good tenants, so we will pass on paying £x’.  The trouble is that RGI companies know that statictically you are going to get the rent arrears after the first six months!

Practically every tenancy where we have been involved in court action is well into its second six month period or longer.  I have rarely had an occasion to be involved in legal proceedings in the first six months, and where we have, the landlord has had RGI in place.

So the reason why all landlords dont get RGI is mainly financial, some do it themselves, dont research things and are ignorant of the facr that RGI is readily available and some just dont care and think that they know it all.  We let a property recently for a landlord who took on a not very greart ex tenant of ours, without referencing of any form, because he knows a relative of his.  His comment to me in parting was ‘You are so up your own ar**e over this, look you stupid woman, I know what I am on about, I know his family, he is ok, I will sort it so stop going on about it ……”  This tenant has got CCJs as long as your arm, as has his girlfriend, he was rude and obnoxious to us throughout the whole process.  We are talking about a fairly experienced landlord here as well.  I refused to manage it and said we would only deal with it on a let only basis, and that we would only do it if he put in writing the fact that we advised him to get his tenants referenced, and that there was no liability on ourselves over this.

Well its his problem now.  Even funnier, he rang me today and asked for help.  Apparently a tenant in one of his other properties keeps going into arrears, and he wants us to serve her notice, plus a S8 as well.  As you can guess, we wont be jumping to get the fee on that work in a hurry.

Cathy

http://www.heritage4homes.co.uk

 

07/01/2014
6:18 pm
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Mary Latham said

70% of English councils spend less than half DHP pot.  This tenant should have been told by the local authority that there was money available to help get him through the transition when he began to work – Government have provided these funds for exactly this situation and they are not being used – landlords should not need to carry the responsibility we are not a social service.  Government are actually aware that many people need support when they go back into work after a long period of time but if local authorities are not communicating properly with people the funds will not be used for their intended purpose.

Off topic, but I am now starting to choke on the bad taste in the mouth that local authorities leave me with, and I’m fortunate enough to have very little dealings with them!  It seems that as institutions they’re determined to be intransigent and unhelpful toward everyone – tenants, the homeless, landlords, motorists – you name it!  I suspect certain entitled members of the public have learned that the only way to get anything out of them is to scream and scream…

 

07/01/2014
6:38 pm
LyndonBaker
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Heritage Estate Agents said
The trouble is that landlords will not pay for RGI – simples!  We offer it as a freeby for the first six or twelve months to landlords.  After that it can be renewed at a cost, which is not major, when you compare it to the amount of financial damage rent arrears can do to a landlord. We try really hard to get our managed portfolio to renew their rent guarantee and the most common comment we get from landlords is ‘They have shown us good will, they have been good tenants, so we will pass on paying £x’.  The trouble is that RGI companies know that statictically you are going to get the rent arrears after the first six months!
Practically every tenancy where we have been involved in court action is well into its second six month period or longer.  I have rarely had an occasion to be involved in legal proceedings in the first six months, and where we have, the landlord has had RGI in place.
So the reason why all landlords dont get RGI is mainly financial, some do it themselves, dont research things and are ignorant of the facr that RGI is readily available and some just dont care and think that they know it all.  We let a property recently for a landlord who took on a not very greart ex tenant of ours, without referencing of any form, because he knows a relative of his.  His comment to me in parting was ‘You are so up your own ar**e over this, look you stupid woman, I know what I am on about, I know his family, he is ok, I will sort it so stop going on about it ……”  This tenant has got CCJs as long as your arm, as has his girlfriend, he was rude and obnoxious to us throughout the whole process.  We are talking about a fairly experienced landlord here as well.  I refused to manage it and said we would only deal with it on a let only basis, and that we would only do it if he put in writing the fact that we advised him to get his tenants referenced, and that there was no liability on ourselves over this.
Well its his problem now.  Even funnier, he rang me today and asked for help.  Apparently a tenant in one of his other properties keeps going into arrears, and he wants us to serve her notice, plus a S8 as well.  As you can guess, we wont be jumping to get the fee on that work in a hurry.
Cathy
<a
href=”http://www.heritage4homes.co.uk/”>www.heritage4homes.co.uk
 

100% agree, Cathy. They will willingly pay for house insurance but not rent insurance. Never have understood that, especially when it is on a mortgage.

 

08/01/2014
9:26 am
PaulBarrett
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The trouble is that landlords will not pay for RGI – simples!  We offer it as a freeby for the first six or twelve months to landlords.  After that it can be renewed at a cost, which is not major, when you compare it to the amount of financial damage rent arrears can do to a landlord. We try really hard to get our managed portfolio to renew their rent guarantee and the most common comment we get from landlords is ‘They have shown us good will, they have been good tenants, so we will pass on paying £x’.  The trouble is that RGI companies know that statictically you are going to get the rent arrears after the first six months! Practically every tenancy where we have been involved in court action is well into its second six month period or longer.  I have rarely had an occasion to be involved in legal proceedings in the first six months, and where we have, the landlord has had RGI in place. So the reason why all landlords dont get RGI is mainly financial, some do it themselves, dont research things and are ignorant of the facr that RGI is readily available and some just dont care and think that they know it all.  We let a property recently for a landlord who took on a not very greart ex tenant of ours, without referencing of any form, because he knows a relative of his.  His comment to me in parting was ‘You are so up your own ar**e over this, look you stupid woman, I know what I am on about, I know his family, he is ok, I will sort it so stop going on about it ……”  This tenant has got CCJs as long as your arm, as has his girlfriend, he was rude and obnoxious to us throughout the whole process.  We are talking about a fairly experienced landlord here as well.  I refused to manage it and said we would only deal with it on a let only basis, and that we would only do it if he put in writing the fact that we advised him to get his tenants referenced, and that there was no liability on ourselves over this. Well its his problem now.  Even funnier, he rang me today and asked for help.  Apparently a tenant in one of his other properties keeps going into arrears, and he wants us to serve her notice, plus a S8 as well.  As you can guess, we wont be jumping to get the fee on that work in a hurry. Cathy http://www.heritage4homes.co.uk  

 

 

 

Got to say Cathy you are the last person i would say is up your own a–e!!!!

To me you are an attentive LA for both LL and tenant clients.

If LL are too dopey to understand your effectiveness and diligence on their behalf that is their lookout.

Your wrongun LL got his just desserts!

A a LL I would never consider myself too clever and know it all.

I know I can never know it all and consequently will always listen to others.

Especially those such as yourself you do this for a real day job!!

Most LL just do not have the range of experience and knowledge that a good LA like you will have acquired.

Your arrogant LL must feel pretty sheepish.

Have you given him a good talking to!?

Would he even accept the error of his judgements.

By the sound of it; no.

Perhaps the best way to punish him for such arrogance is to deprive him of your services.

You could recommend that LA that thinks he knows it all that give you so much recent grief!!!?

Those two would deserve eachother!!!

 

 

 

 

 

 

 

08/01/2014
12:41 pm
LyndonBaker
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PaulB said, “

You could recommend that LA that thinks he knows it all that give you so much recent grief!!!?

Those two would deserve each other!!!”

What a wicked and devioius thought, Paul. I LIKE IT! Smile
08/01/2014
12:52 pm
Heritage Estate Agents
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Thanks Paul, I dont think I am up my own ar*e, but I have found over the years that you have a good depth of experience and you try and convey that to somebody who really is not that interested and thinks they know better, and I am talking landlords here mostly, they think you are a bit superior, or narked off because you may have lost a let.  Maybe my people skills and listening skills need looking at, but I am personally all for self improvement, and funnily enough am about to shoot off to my business coach for a session, so maybe I wil discuss this.  Experience has shown though, that they end up listening, as the wheel falls off and they come back, tail between their legs.  In those cases, I just make them a cup of tea, offer sympathy and my professional services (as a letting agent I would add), and smile inwardly.  People dont like being told ‘I told you so’, so do it nicely and professionally, they will have suffered enough.

Lyndon – hahahahahahaha, you know what, I think we know of couple of letting agents who can can recommend he uses, dont you reckon.  The laugh is he will end up back with us, because we give him good advice – as he will find out when he rings a solicitor, who will charge him an arm and a leg for advice I gave him for free.

Cathy

http://www.heritage4homes.co.uk

 

08/01/2014
6:48 pm
PaulBarrett
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Heritage Estate Agents said
Thanks Paul, I dont think I am up my own ar*e, but I have found over the years that you have a good depth of experience and you try and convey that to somebody who really is not that interested and thinks they know better, and I am talking landlords here mostly, they think you are a bit superior, or narked off because you may have lost a let.  Maybe my people skills and listening skills need looking at, but I am personally all for self improvement, and funnily enough am about to shoot off to my business coach for a session, so maybe I wil discuss this.  Experience has shown though, that they end up listening, as the wheel falls off and they come back, tail between their legs.  In those cases, I just make them a cup of tea, offer sympathy and my professional services (as a letting agent I would add), and smile inwardly.  People dont like being told ‘I told you so’, so do it nicely and professionally, they will have suffered enough.
Lyndon – hahahahahahaha, you know what, I think we know of couple of letting agents who can can recommend he uses, dont you reckon.  The laugh is he will end up back with us, because we give him good advice – as he will find out when he rings a solicitor, who will charge him an arm and a leg for advice I gave him for free.
Cathy
<a
href=”http://www.heritage4homes.co.uk”>www.heritage4homes.co.uk
 

For you there must nothing more annoying than an arrogant LL as well as a arrogant tenant.

Throughout life I’ve always found that arrogance doesn’t work.

Asking questions and listening to what other people say I’ve found is very useful.

I always suspect that I don’t know what i don’t know and consequently I prefer not to be arrogant,

One can look pretty foolish if you jump in feet first  thinking you know it all.

You always need a get out of jail card to be able to return to a font of knowledge, such as yourself!!

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