UK Landlord Forum / Life

so I got lucky in the mid 90's with my council flat which I bought for hardly anything and then Peabody housing took it over , meanwhile I also  converted the large kitchen into a second bedroom and put the kitchen in the living room making it a kitchen  diner put more $$ on my place but now after spending years of living here in my 20's - 30's central London was fun and now in my 45 th year I cannot seem to get out of here for pastures green  ! I have tried the etate agents route years ago and was horrified at there prices plus they didn't seem to find anyone anyway so now I thought well having a great 2 bed flat in kings cross which has been updated to a great standard - bamboo flooring - power shower - granite flooring etc.. I thought I could do it myself as there are hundreds of professonals advertising for Islington on spare room so I have been approaching them and then haven't a clue what to do next lol ! or am i really doing the right thing anyway by doing it myself or I read on here to find an online agent ?or asking the tenants for a guarantor ? how many people have been doing it themselves - I mean I have the time but I am so desperate to get out of here plus I am nto the most organised person too - it will be furnished too so yes an itinerary- a deposit - passport copy ? - references - landlord insurance -deposit - anyway I would love to hear who would do it aloneif they were in my shoes in central london with a prime flat and location or put it through an agent and let them deal with it  ?it all sems like a mine field but I guess it would be like learning anything new , like driving a car it would take time -----kind regards Rachelle

Quote from: rachelle on May 05, 2016, 02:07:51 PM
so I got lucky in the mid 90's with my council flat which I bought for hardly anything and then Peabody housing took it over , meanwhile I also  converted the large kitchen into a second bedroom and put the kitchen in the living room making it a kitchen  diner put more $$ on my place but now after spending years of living here in my 20's - 30's central London was fun and now in my 45 th year I cannot seem to get out of here for pastures green  ! I have tried the etate agents route years ago and was horrified at there prices plus they didn't seem to find anyone anyway so now I thought well having a great 2 bed flat in kings cross which has been updated to a great standard - bamboo flooring - power shower - granite flooring etc.. I thought I could do it myself as there are hundreds of professonals advertising for Islington on spare room so I have been approaching them and then haven't a clue what to do next lol ! or am i really doing the right thing anyway by doing it myself or I read on here to find an online agent ?or asking the tenants for a guarantor ? how many people have been doing it themselves - I mean I have the time and  am so desperate to get out of here plus I am not  the most organised person  and when I see maths figures i close down like  dyxlexia ... - it will be furnished too so yes an itinerary- a deposit - passport copy ? - references - landlord insurance -deposit - anyway I would love to hear who would do it aloneif they were in my shoes in central london with a prime flat and location or put it through an agent and let them deal with it  ?it all sems like a mine field but I guess it would be like learning anything new , like driving a car it would take time -----kind regards Rachelle

Hi Rachelle

Are you trying to rent out the whole flat or just a room. If the latter then you can afford to make all sorts of legal mistakes as they will only ever be a lodger and the consequences are unlikely to be disastrous as they will be simple enough to remove. If you are going to let the whole flat out then I would encourage you to (at the very least) join one of the landlords associations as it's a minefield out there designed to trap the unwary and cost you loads of money if you get it wrong. Training courses are also something you should invest in.

I am an agent so you know where I am coming from but with absolutely no experience I would steer you towards using an agent simply because the flat is likely to be the most valuable thing you own and you are trying to save a few pounds by doing it cheaply. If you've lived in Kings Cross for twenty odd years then you will know the agents that are reputable and the ones you should avoid like the plague and having worked in Islington for several decades I too know them but still they pick up business because they charge very little. The saying buy cheap pay twice is worth bearing in mind.

Online agents are good for some but they tend to be people who have the necessary expertise to follow the process through so use a High Street (or more likely Upper Street) agent for now then save money in future years by doing it yourself.

Good luck