BTL question

[noTAGlove]

Its fully managed for either 12.5% or 15% fee.

Ouch, that is a massive bite out of your Mums investment return. What do you get for that significant fee, apart from a phone call to tell you about the drying?

[wileeeeeey]

Ouch, that is a massive bite out of your Mums investment return. What do you get for that significant fee, apart from a phone call to tell you about the drying?

FA. After she made me go to court for the eviction process when the flat is nothing to do with me I told her I don’t ever want to hear about that flat or see it again. She can either upskill and be fully involved or pay someone else and hope for the best. She did the latter.

[Montello]

FA. After she made me go to court for the eviction process when the flat is nothing to do with me I told her I don’t ever want to hear about that flat or see it again. She can either upskill and be fully involved or pay someone else and hope for the best. She did the latter.

It maybe worth her considering taking out a rent insurance policy with legal cover. That way if the tenant doesn't pay the insurance company cover her rent and deal with the legals, obviously they are highly motivated to get the legal process sorted because they are paying the rent until the property is vacant. Also, they are experts in this area of law.

Never used the insurance but it's there if you need it.

I use this
https://www.alanboswell.com/landlord...ent-guarantee/
https://www.alanboswell.com/landlord...egal-expenses/

Some letting agents include this in their fee ... my old one did but I never saw the policy so have no idea of the quality of cover.

Ouch, that is a massive bite out of your Mums investment return. What do you get for that significant fee, apart from a phone call to tell you about the drying?

As above may include rent and legal cover ... check you agreements ...

[wileeeeeey]

It maybe worth her considering taking out a rent insurance policy with legal cover. That way if the tenant doesn't pay the insurance company cover her rent and deal with the legals, obviously they are highly motivated to get the legal process sorted because they are paying the rent until the property is vacant. Also, they are experts in this area of law.

Never used the insurance but it's there if you need it.

I use this
https://www.alanboswell.com/landlord...ent-guarantee/
https://www.alanboswell.com/landlord...egal-expenses/

Some letting agents include this in their fee ... my old one did but I never saw the policy so have no idea of the quality of cover.



As above may include rent and legal cover ... check you agreements ...

Thanks for the recommendation. I haven’t heard of Alan Boswell but did recommend landlord insurance a few times years back which fell on deaf ears.

The main issue was the one month deposit from a 10 year old rental value. She got greedy after a few years and took on the tenants directly without updating the deposit and paid the price. Very much a horse to water issue so I stay out of it.

[Montello]

Very much a horse to water issue so I stay out of it.

Managing a BTL isn't the loose casual arrangement it was 20 years ago, now you have to keep up to date with all sorts of stuff ... Like I said above, it's like running a small business, the returns have to be earned. For those who are not willing to put the effort in I'd stick with index trackers.

[demonloop]

Managing a BTL isn't the loose casual arrangement it was 20 years ago, now you have to keep up to date with all sorts of stuff ... Like I said above, it's like running a small business, the returns have to be earned. For those who are not willing to put the effort in I'd stick with index trackers.

This is it in a nutshell. For me, it’s 15 years (now 9) of unpaid hassle / work before I see any returns. I have a fairly good threshold for hassle.