Implications of letting out to DSS?
#1
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Implications of letting out to DSS?
I was just curious, currently my tenants are private tenants but are moving on next month. My agent has had a lady approach him, who wants to rent it but she will be going through the DSS. I am currently making no profit on the house and am adding money to the rent to cover all of my costs, this would still be the case if she took the property on, so what are the implications, if any, if I was to agree to this DSS let?
#2
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Re: Implications of letting out to DSS?
Jen a friend of mine had a terrible job getting rid of some DSS tennants when they were failing to pay their rent. I'm sure that there are some OK ones, including some of my family, but just be wary.
#3
Re: Implications of letting out to DSS?
You could have the same issues with a private tenant as well though. Can you arrange it so that the money goes direct from DSS to your account, bypassing the tenant?
#4
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Location: Sinagra North Perth Suburbs
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Re: Implications of letting out to DSS?
TBH I wouldn't do it either. I'm letting my house out in the UK and having a terrible time with a DSS tenant. She said that the rent would be paid automatically and ended up giving false details of who is living at the property. She got a dog, which caused damage to the house, her kids have been running riot, the neighbours are having a nightmare cos the kids are screaming and shouting at all hours day and night, and to top it all I've now had no rent for 3 months! It's horrible feeling so far away and unable to do anything about it. My advice would be to stick to the private sector if possible, I know all DSS people aren't the same but why risk it?? And please make sure you take out legal protection for if they don't pay the rent. I didn't and am paying the price now.....
#5
Re: Implications of letting out to DSS?
I have read far too many horror stories about DSS tenants to even contemplate it. I would rather my house was empty to be honest.
#6
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Re: Implications of letting out to DSS?
I was just curious, currently my tenants are private tenants but are moving on next month. My agent has had a lady approach him, who wants to rent it but she will be going through the DSS. I am currently making no profit on the house and am adding money to the rent to cover all of my costs, this would still be the case if she took the property on, so what are the implications, if any, if I was to agree to this DSS let?
On the other hand, my daughter is a single mum with a 2 year old and on DSS. She also keeps the property she lives in immaculate and pays her rent on time. When she needed carpets changing (as they were cream and did not bide well with a 2 year old) she bought new flooring throughout the house at her own expense, and had my son (a qualified floor layer) put it down for her. The property really is a credit to her and she has only just turned 21.
Basically, some people are house proud and some are not whether they are working or not. If necessary try to obtain previous renting references and just make sure that you get a guarantor (I was my daughters) due to her being unemployed. However, I do think it very strange that I didn't need one yet I could have done a runner a lot easier than my daughter could Please don't be put off renting to DSS babe, honestly, most of them arn't the scum of the earth
#7
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Re: Implications of letting out to DSS?
To be honest it was more the financial/tax implications I was worried about. The tenant herself has just split from her husband and owns a proprty with him, her brother lives opposite me and apparently she's v houseproud!
#9
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Joined: May 2009
Location: Brisbane
Posts: 192
Re: Implications of letting out to DSS?
I was just curious, currently my tenants are private tenants but are moving on next month. My agent has had a lady approach him, who wants to rent it but she will be going through the DSS. I am currently making no profit on the house and am adding money to the rent to cover all of my costs, this would still be the case if she took the property on, so what are the implications, if any, if I was to agree to this DSS let?
#10
Re: Implications of letting out to DSS?
The second were a married couple high income earners who stole just about every thing in the house when they moved on including two huge jardinieres that were either side of a rose arbor they also stole that along with the roses in the jardinieres. They now stand either side of a pair of ornate columns in the entry to the mansion they built just down the street from my folks
When renting your at the mercy of the estate agent's property manager. Get a good one you'll be O.K a bad one & your ruined
#11
Re: Implications of letting out to DSS?
DSS are normally ok, but like evrything u will get some dodgy ones. Take out landlord insurance and make sure it covers you for loss of rent and legal cost in reclaiming the rent. If the tennant decides not to pay you will still have to find the money to pay the morgage but will be able to claim it back.
#13
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#14
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Location: Woodvale, WA
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Re: Implications of letting out to DSS?
But please check that this insurance covers you for mallicious damage by a tenant. If you don't have it and they trash the place the insurance won't pay out. Your 99 is only likely to cover basics.
#15
Re: Implications of letting out to DSS?
What insurer do you use? Looks like I need to revisit a quote.