Letting property.

[Seafort]

Any ideas.

My parents moved abroad for a year, let the old family home through a letting agent. They opted for a reduced income on the basis that it would be paid monthly wether occupied or not.

When thier representative recieved the keys back at the house it was noted that items of furniture were missing (beds, 3 piece, chairs,pics etc). The agency maintains that the thefts occured 6 months ago, before the last tennents moved in. They reported it to the Police and were told it was a civil matter.
They [agents] failed to report this to the rep' and do not admit any responsibility for the 'goods' missing from the inventory.

Ma and Pa say they bought landlords insurance through the same agency but can't find the policy, in the rep's dealings with them it has not been mentioned.

The Police suggest the small claims court. I guess the question is.....

Has anyone here been through the same?
Or
Any advice on the way to go? (off the cuff like)!

At the mo' Ma not looking forward to returning, Pa's gone for a drink, Sunset rum probably. /forums/images/graemlins/crazy.gif

Any erudite thoughts welcome.

Dave.

 

[DepSol]

name and shame please. Enolugh crooks on the street without them tryin to be legit too.

 

[bobupanddown]

If the agents were paid for full management of the property they are responsible for ensuring that tenants do not walk off with your furniture.
Ask to see copies of signed inventories(by the agent and the tenant )to ensure that the furniture was actually stolen by outsiders and not by one of the tenants. If they cannot produce these signed inventories they obviously have not been managing the property correctly and should be pursued by going through the trade association(ARLA) if they are members or through the small claims court.
If they can prove that the furniture was stolen when no tenants were in the property you will have to fall back on the "landlords" insurance.
The agent will have a copy of the policy as the companies always send details to the agent if a policy is taken out through them.
Hope that is of help?

 

[wishbone]

Sorry to here about your problem, you could try www.lestdirect.co.uk for some advice, my friend has just sold her buy to let property after a couple of years using an established agent here in yorkshire, they were a waste of space the last tennant left months before telling my friend and it was a new flat just two years old and was left in a mess. A client of mine has 12 houses in leeds she handles all the letting herself because agents were crap and charged 12%, we handle our properties ourselves, you can get shorthold agreement and contents shedule through letsdirect, if you are out of the country can you get a family or good friend to act on your behalf.....set up your own direct debits etc...you have to be careful when using agents if they act on your behalf for repairs to the property......prefered builders, back handers, inflated prices you can see your rental diminish!!!!!!!!!!!!!!

I am not conected in any way with letsdirect..

 

[poter]

Very Very difficult....
Sorry to be a pessimist, but, we have been letting property for some 20 odd years in London, & some of the stories I could impart, would make you give it all up!!!

I assume the agents had a deposit/inventory?
If not why not?
Most if not ALL agents are a waste of time, they never look after your interests and charge a small fortune, for in most cases lousy service & we have tried them all, from big to small.

The only way to do it IMHO is yourself! that means a family member, trusted friend, whatever.

And you must be tough, only let on the basis of a full 1 month deposit up front in cash, & references that have been checked carefully, BEFORE handing over the keys.

A FULL inventory is to be agreed befor hand & you must have a tenancy agreement that you both sign with a witness. Our agreement has been developed over years & now covers for almost all eventualities.

For the above, as the landlord you should have all the proper fire, electricity, gas, certification in date, the property should be in a good state of repair (it helps to take pics as well) We also supply as a matter of course, new linen at each change of tenancy & the garden/landlord areas are maintained & cleaned.

There are many other areas of letting that should be taken into consideration, but not enough space here.

As far as your present problem is concerned, drop it, put it down to experience & move on, you will find that the agents have very BIG solicitors, & unless yours are bigger & you have very deep pockets, don't even go there.

good luck

poter.

 

[DavidofMersea]

> They reported it to the Police and were told it was a civil matter.

Since when has theft been "A civil matter"?

This is just a line from idle Police that don't want to do anything - It is a bit like a wife being told that her husband can hit her because "it is a civil matter". On that basis, if he murdered her, it would be "a civil murder".

 

[Seafort]

Thanks everyone.

I would rather not name the letting co' at the moment, I'll see where we go from here first.

From hearing bits of the agreement over the 'phone it seems the property was actually let to the letting agency who then sub-let to others. This way there was a regular monthly income even if no one was living there. Naturally a much lower income than the property could command.

Thus far it seems the letting agents were the tennents. We have agreed inventories plus photo's. Work was done to bring the property 'up to code' and cert's obtained.
Our rep' has been told by the company that the first tennents they installed 'done a runner' 6 months ago, she also got the impression that all that was on offer was the deposit those people left behind. This was reported to Police at the time who say it is a civil matter (?). Same reaction on our rep's visit to them too /forums/images/graemlins/confused.gif
They [police] didn't even issue a report number.


Rather worried about the tax that the agency deducted and submitted on my parents behalf (just heard about this one). I've been told that this is 'standard practice'. Not what I would choose to do but wasn't involved. Afraid I just assumed they knew what they were doing.

I carry pretty good legal insurance so dont feel like just dropping it but I do hear you about running it yourself. Supposing full occupancy and only having rough figures this 'guaranteed income' has allready cost my parents £2.5K over the year.


Thanks again people. I'll let you know what happens.


Dave.

 

[bobupanddown]

Just to clarify your tax point. If the landlord resides overseas the letting agent is legally obliged to deduct tax(24%) from the rent unless you have obtained a dispensation from HM TAX office.
I know of a case where an agency had to pay over £40,000 in back tax as it had failed to collect from its landlords.

 

[jfm]

That's correct re the tax, only it's 22%, This is however "on account" tax, not a final tax liability. Your parents should file a tax return and crunch the numbers, and they may well be due a tax refund