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Carryon Regardless

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Everything posted by Carryon Regardless

  1. Apart from, today, the timing being coincidental of course, the eu are starting their efforts to control if not bring him down. As this will suit all parties but the Brexit Party I only see a coalition of force against him. I've forecast for a while that we won't leave the eu. The WA wasn't / isn't leaving as we remain tied to the eu. Now May offers a 2nd ref (if the WA is accepted), w/o any indication that I've heard as to what the choices will be. The choices possibly being the WA or Cancel. This is designed to reverse the 1st ref.
  2. Where's me monkey gone? Is this an animal rights thing?
  3. While the Gov't's are keen to pass the burden of social housing to us we will see incresed controls by legislation. The trend is very clear by now so it's either suck it up and get used to it or get out. Personal choice and that can be down to many factors. Then we have the Bof E keen to prevent housing bubbles that interfere with the ideal inflation target, so by what ever means thare will be efforts to control property price increases. That also suits the Gov't some as there is greater opportunity for those wishing to escape the rental trap, that we evil LL's are totally responsible for, nowt to do with market forces apparently. The future of the rental market is more and more down to revenue than capital growth. Demand will cause price increases but will be moderated by market controls from above. The increasing legislation that is definitley aimed at reduciing the LL's advantage will temper demand from us, one box ticked. Gov't incentives to make purchase more attractive to market newbies ticks another box. Increasing interest rates would be a deterant to all so taxing additional properties and reducing tax relief on them gets around that. Mr Carny has warned again recently to expect % rate rises, that'll see a few of us off in this weeding out process, so more properties returned to the market, along with some displacements as collateral damage. House prices in my experience haven't risen signifiacntly, like double, if at all in some cases since 2008. And while I have previously predicted a moderate bubble is due it 'aint happened and I now doubt the forces above will allow for it to happen easily. But ask any housewife and without doubt the value of our money has dropped very significantly. The stated inflation rates aren't borne out on the super market shelves. Just some more thoughts
  4. Some of mine can still be exempt while empty for 6 months. Another increases the charge to 150%, after 12 months I think. Part of the attack on 2nd home owners if I remember. Local council websites should fore warn of their 'chosen' policy. But generally I find Labour run councils will us as fair game to provide them with additional revenue. Far be it from me to suggest another party takes residence before such as 150% is applied, on paper, for their records.
  5. That's a lot of dosh. When does it rise to 150%? Councils have choice of discounts and periods nowadays, they vary considerably. Is that a Labour council by any chance?
  6. I wouldn't hazard a guess at Scottish law. A few years ago a Welsh tenant contacted me with a nest problem. Since wasps can get in small holes it's easy for them to set up a nest in voids. On the principle that the nuisance wasn't there at the start of a tenancy veiwed that I had no liability, and certaily wouldn'r cobsider I would have liability or interest to satisfy an obnoxious neighbour who should go through my tenant anyway. The Welsh nest was late in the season and my research suggested that the grow through the season and upsetting the nest late on could cause them the become a greater nuisance. A nest caught early shouldn't be as big an issue, less risk. My understanding was that wasps don't return to the same nest in following years.
  7. Each of us will have our own result from the appraisal of the effects of this. Mine is somewhat of a risk assessment. Many of my properties are in the higher risk sector where T's have very limited resources of income, some dependant on social welfare. This brings additional, to some, risk of T's (and G'tors) failing to meet financial needs, and some times look for ways to blame me. I am heavily mortgaged, an intentional strategy back in 07 / 08 when I saw lean times ahead so created a cushion in anticipation of a return to more bouyant times within 6 years. That still hasn't occured 11 years on. Interest rates are and have been unexpedely low supporting my portfolio profitability. Potential sale values are no where near an attractive value to make selling attractive. Each time the Gov't creates a new initiative T's, or more likely their agents (I refer to Shelter specifically) will look to aid the T, this can even mean an opportunity of compensation to the T. As Grampa, the legal system becomes more expensive to us. That system sympthises heavily toward the T (from my experience and others). Some of these initiatives actually incentivise T's to take on the LL. Our risks increase continually while our profits are diminished, and there are extra admin responsibilities and worse stresses can and do become significant. I gave up on the S8 route years ago. While some grounds don't allow a judge choice most do, 'asking' a judge to sympathise with me isn't intelligent so I prefer the S21 as when used correctly it is a mandatory repossession order. It may take longer than can be achieved but it's less of a gamble. As said it's early days but I believe the removal of our S21 tool is coming. Somehow Westminster will see that we like to repossess nice people and throw money away because we are immoral in our dealings. I think they are using the mirror too much. For all there will be a point where the risk for the reward is too great. As these initiatives arrive progressivley we are given time to get used to the previous before the new so we are acclimatised. It's only when a list like Grampa's is put up we see how the evolution has taken place. For myself I see a great danger that as T's realise that 'I' do not have choice to evict that they can become more abusive. I see a time where we will not expect the 1st eviction attempt to be successful but that a court will want to see a pattern of behaviour before we get any sympathy. This is comparable to the criminal system where the abusers are given several chances to change their ways, but here it is at our expense both cost and stress wise as the continued abuse effects us soley. With time I'll be looking at the figures to see if a strategy of disposal looks favourable. I do have T's that continually fail to meet thier financial responsibilities and imho would stop trying as they see and understand this advantage (it will be newsworthy to inform them), so they are top of the disposal list. So far the threat of S21 is a good management tool.
  8. Rents will have no choice but to follow the laws of economics. Maybe the big boys of the industry can manipulate rents some but the rest will just have to follow. Supply and demand is the obvious law, there is demand and it seems supply is still retrictred somewhat. The exodus of eu types due to Brexit will have had 'some' effect to reduce the demand. So competition is what I would expect most of us to follow. I look at comparable rents once a year in February to determine my increases if any. Generally my increases have been circa 2% and in my limited expereince I haven't seen abnormal increases. There might be a desire to compensate ourselves for what ever is forced on us but avoiding voids is more intelligent as those losses can't be recovered.
  9. TBH I lost faith in the industry when the deposit protection came in. There is always some reason or other used to justify additional loading on the property landlord but the truth is the Gov't can't manage the housing needs and so pass the responsibility on to us in legislative forms. It is indirect taxation and more as it costs us extra and causes more effort with crazy threats of penalties for non compliance. The deposit protection is a very good example. It's said some LL's abused deposits but the courts are there to address these claims by T's. The holding system (I realise there are other options at extra cost and admin) aids the DPS as they hold £millions and unfairly redistribute following claims that are biased by design toward T's. I wonder how much remains unclaimed. The trend for many MP's to have a go at the dirty LL has been going on for a good while. Too many look for another way to protect the T in some fashion. Is our legal system so deficient that it fails them? I would have thought with Shelter, Citizens Advice and the internet there would be enough tools at their disposal, and that's beside going to a solicitor, ££££'s, as we are expected to do.
  10. This is seriously making me consider how to plan my future. I do not trust the courts to make a balanced decision if and when I feel the need to get rid of a painful tenant. Already before I go through any eviction process I have suffered losses and stress, this means a person with no understanding of the situation with a direction from above to protect tenancy security will decide the fate of my business. The costs even if awarded against a tenant or guarantor, and I see that as a remote chance at best, won't be received, so it represents a further loss in an already lost situation. A judge will invariably find a way to aid the offending tenants to remain longer, no doubt with threats to them to improve, but will allow for further abuse. I've said previously that we are becoming social landlords this is clarification. We already have great difficulty in being allowed to run our own business this will take away the one tool we really need in an adverse situation. Since the Gov't's feel we are incapable and unworthy of running a rental business it's time they took it all over in an honest way.
  11. It has nothing to do with the Police. They often make statements that aren't correct and set up confrontational situations. There are Local Authority Housing Officers for this sort of thing, should there be a need.
  12. But of course, we are immoral capitalists. This is about as close to nationalising us as they can get. Er, I might be a bit premature there.
  13. A thought around increasing the rent for animals, I can see over the long term you can offset the greater risk / expence, but if a tenancy is shortish, just a few months the carpets will be shot and the cost not covered. I have considered that T's with animals might be asked to buy the carpets from me, or for me if they're going down for a new tenancy.
  14. I did some research and calculations some years ago. While the financial aspect may have evolved some, but I doubt it, the demographic won't have. I concluded that the area must be within the catchment zone, obvious I know. But close to the study venue is less important than easy access to night life. Students are traditionally skint, so taking payments from the G'tor can have advantages, how they all sort that isn't your issue. Expect a repaint each season, and possibly new mattresses and some furniture. Local Uni's will detail the minimum requirements of 'your' property to register it / you on their list. Consider the neighbours, even if you don't like them you might well get many complaints and attention from environment health. The noise and rubbish will be seen as your problem. A friend used to work in the M/cr housing enforcement. They took to prosecuting LL's in some strange way if a lady was raped in their property, go figure that one, (I perceive aimed at student let's but clearly wouldn't be specifically). I haven't a clue if other authorities adopted this prevention attempting policy. I have some personal experience with my step dausghter of students absconding the let, effectively sub letting to short term partners, and transferring utility responsibilities to another when it suited. We are now limited by our charges and deposits so can enjoy an increased risk there. My conclusion was to leave that market to those with the expertise, if there were to be any increase in revenue it wasn't worth the anticipated additional effort, and possible increased risk.
  15. I hope you enjoyed Spain, prior to us lepers being turned away at any new eu border, or asked to pay the massive amount of 7 something or other to enter. As I wouldn't consider that there is a responsibility for others to resolve any queey raised there is no apology necessary. A thank you is appropriate from me and hopefully is suitably conveyed. Now back to practicing me Inglish learnin' The rain in Spain is nowt like the snow up 'ere in Buxton.
  16. I'm considering remortgaging one property to fund the purchase of the 1 flat I don't yet own in the infamous block of 6. Really having overall control will represent increased profits from not losing T's due the the present owners ongoing anti social antics. I realise there is the increased stamp duty on buyng a BTL, but another LL friend believes there is also stamp duty charged on the remortgage, that property will not be chaging hands. Is he confused?
  17. I'm surprised your rents are so low. In Prestatyn, 1 bed flats of approx £50k value fetch me £425 pcm, and I'm about to assess for this years increase. The year up to March 18 was an actual revenue of £25,551 for the 5. It's hard to image Notts is any less attractive. I'm not suggesting your not on the ball with your rents but have you considerd requesting one of the larger agencies to value as if they managed? Some years ago i did with genuine interest, didn't use their services and I just pitched a little lower. It could change your view of the sale value.
  18. I'm finding this a bit ambiguous. As I read this the new 'move' applies to a deposit paid 'up front' to secure a property, a holding deposit. This being an amount to reserve the property pending checks and the signing of the AST, where the deposit for the tenancy would more often then be due. Or is this in relation to what we generally refer to as 'the deposit' that must be protected? As I wasn't aware of a 6 week rule regarding that I would be surprised. If I am right this 'move' is pointless as any 'holding deposit' would be converted into 'the deposit' or initial rent at sign up.
  19. My view, if you withhold any amount of the deposit you still hold a deposit. If you are able to reach a demonstrable agreement over the amount you are due so that the deposit is 'cashed in' and you proportion the amounts each will get from it, then maybe you might be able to show that the deposit has been returned. Where is the deposit held? If with the DPS then as I remember this is done at the closing down of that deposit, I can't comment on the other schemes.
  20. Boiler Replacement Read the response from Melboy in the above linked thread and see how that fits in with your boiler instal and gas inspection dates. If there are other gas equipment in the property they would need to be covered by a certifiacte anyway.
  21. To my mind this would depend on how long ago the notice was served, I would also interogate the notice and service of to be sure that all other procedures were correctly followed. If there is urgency to repossess the property, and the notice has already run up most of the 2 month expiry period and a reasonably minded person should be capable of understanding the notice intent then you should be alright. In areas where I rent I feel sure Shelter would pick up on this and attempt to use it to advantage, the judgement call is if I would feel confident enough to argue the point in front of a Socialist Judge where further expence and time could be lost.
  22. A good deed of guarantee ties the Guarantor for the period of tenancy, cue Grampa.... T'other advantage of a Guarantor who may be at risk is that an absconded tenant generally reappears when the Guarantor is made aware. I've even had tenants become more amenabl when reminded of the Guarantor's responsibility. One Guarantor even gave my then tenant a black eye for doing that to him.
  23. You need a quality guarantor as even doing more research may not show you the true history. A distant guarantor is far more awkward to sign up than one that can pop over to meet you on sign up day. I've tried signing up a guarantor some 200 miles away by using a local solicitor to witness at their expence, after a lot of faff it failed. The problem with a relocation, possible experiment, like this is that it has it's own risks. Is she running from something that might follow her, like a violent ex? 2 risks from single female T's. 1st, if they are attractive we males might not see the situation as clearly as we should. 2nd, any female can attract male attention and the new chap/s haven't been assessed by us but may well become very important to the tenancy.
  24. To my mind these things are a judgement call. More often basing the call on your experience of the person is the basis of the decision. From a business point we don't want to be too swift to hoof a T that may well come right, but then don't want to be slow and suffer greater losses than might be be acting faster. I don't follow the route of guarantee insurance but do generally have a guarantor. that can help me be more relaxed some times if a feel confindent they could satisfy any claim. Considering T's can call on Shelter, CAB and Housing Enforcement I wouldn't be too judgemental of a LL that acts defensively, and then maybe denies a genuine case any sympathy.
  25. Good strong boots, for the wife to wear.
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