We haven’t had a tenant for a month. Earlier this week our lettings agent calls up and says that a couple of students have viewed the flat and decided to take it. Yippee!
But we haven’t heard from the lettings agent since then, which frankly is worrying. Did they change their mind? Did their parents refuse to fork out the rent money (which has to be paid in advance on account of them being students)?
The Lettings Agent – let’s call them LP – has informed us that the oven in the property is not clean enough. This pisses me off. I spent an hour cleaning the damn thing with a steam cleaner and some cilit bang. OK it wasn’t in mint condition when I’d finished but what do they expect - the thing is 3 years old now.
So do I fork out for a professional cleaner to give it the once over? LP are pushing for that option of course, but that could just be so that they get some nice commission on the work. I’ve become cynical about everything they do – it was largely their fault that our last tenant moved out. But if I don’t, will I lose the tenant?
It’s tough being a landlord right now. I have friends with property portfolios who I used to envy but who are now knee deep in the shit because they’ve over-geared their properties. They are losing about three grand a year and that figure will rise as each property comes up for remortgage. There are dark mutterings about bankruptsy afoot.
Our own buy-to-let mortgage comes to the end of its fixed rate in January. What will happen? Maybe I should just leave it on a variable and wait for interest rates to fall as the recession takes hold. They say rates could fall as low as 3.5% - ironically the rate at the height of the property boom.
The greed of man and estate agent (and possibly the dirty oven) will be the downfall of all.
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