UK Landlord Forum / Life

Hi all,
I have a 3 bed property that i feel ive completed to an overly high standard considering its location where the majority of people are on benefits.
I'm asking a rent of 475 pm mainly because of all the work i have done to it and the standard it is at...
Im using a local agent with the hope they will find a "working" tenant, but they are only getting interest from people on benefits...! apart from that, will they really care who they find because they will get their fees regardless... and leave me to manage the property...?
They have a 30sh year old mother with two children who claims to have some kind of arthritis which disables her from work. Her parents are home owners and are willing to act as guarantors.
She gets at the moment 372 towards rent from benefits, and therefore based on that she would have to find 103 herself.
I dont have any prior experience with this sort of thing, and i dont know how someone would be able to find that sort of money without working...?
Does anyone have prior experience who can advise me what could be best in this situation?
I am brand new to being a landlord and feel a bit out of my depth making the right decisions..!
Many thanks
legepe

I have 1 Tenant in receipt of LHA (Local Housing Allowance). That covers the majority of the rent, but there's a modest top-up required from the Tenant each month. Chasing for this top-up has become the bane of my life. At one point I even considered reducing the rent by the top-up amount to give myself an easier life. In the end I issued a Section 21 as a warning... that worked, for a time. Bad habits are starting to creep back in. If the Tenant's circumstances change, the Council will suspend the payments to you, and they will not discuss it with you. You are left in Limbo, while the Tenant may try very hard (or not very hard at all) to remedy the situation. You will only know when payments restart again.

It is a minefield out there with Tenants in receipt of benefits like LHA.

I would never knowingly let a property to someone like this (someone in this situation) again. The person is lovely. The house is kept nicely. I have no complaints other than the rent angle. All my other properties are let to working people and this is the best way to go about things. If you ever have the choice don't let to people receiving LHA. If you do not have the choice... then the benefits to you are simple... the Council is unlikely to miss payments once things are set up correctly... you have a nice guaranteed income stream from that... the Tenants of this nature are, by definition, less mobile than professionals, so you may get a Tenant for the long-term... it's also possible that their expectations (in life and housing) are less than a professional. That may be a moot point now you admit you have gone "above and beyond" in the tarting-up.

Tread carefully.

Thanks for your advice... I will call the agent and tell them that i will only accept working tenants even if its going to take longer...
i guess if i am going to continue in this direction of being a landlord i should educate myself enough in the processes involved to find, select and vet potential tenants...
Is there any reading material or websites you can recommend?

I let an Agent find prospective Tenants... I select them, the Agent vets them.

I do the viewings, and I also do any negotiation that might arise, so I do my best to take their measure at that time. I have decided not to progress with Tenants on nothing more than a gut-feel before.

Thats pretty much how I am doing it... apart from the viewings... the agent does that.. but I am completely reliant on their opinion..!
I've found a company called Openrent https://www.openrent.co.uk/advertise-property-for-rent that seems to be what I need.. have you any experience with this?
As ive already instructed the agent.. they have put a board up at the property and put it on right move, etc... I guess they will still want paying if I now find a tenant myself?