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ryanr_123

What problems/issues do landlords face?

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Hello. My name is Ryan and I work for a TV production company called Films of Record. We've been established for over thirty years and make human-interest documentaries such as BBC2's Great Ormond Street series.

I am currently researching the problems landlords face. I’d like to speak to anyone who has had (or currently having) disputes with tenants; or faced bureaucracy which has negatively impacted on them. Also, any thoughts about the Immigration Bill or Ed Miliband’s proposed reforms would be very helpful.

At the moment this is just for research so you wouldn’t have to worry about taking part in anything and anything said would be confidential! If you send me a private message, or email at ryan.ramgobin@filmsofrecord.com, or phone 0207 490 4222, we can have a chat.

Thanks very much for your help, look forward to hearing from you!

Ryan

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Ryan..........let's hope you get a lot of replies from Landlord's who have lost thousands of pounds due to loss of rent and wilful damage to their property from tenant's who couldn't give a monkey's because they know the law is so one-sided in protecting tenant's rather than helping landlord's especially small time private landlord's.

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Bureaucracy which has a negative impact

* Rental income cannot be used to qualify for a pension.

* Although its a business, rental income does not qualify for all normal business tax benefits.

Politics

* Due to the shortage of local authority housing, many sold of as part of 'right to buy', any & all Governments NEED the private rental sector. It would therefore be counter productive for them to introduce draconian measures aimed at making the private landlords lot considerably worse than it is. Labours proposed reforms are unlikely to get off the ground.

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Ryan - just read all the landlord forums pages - it is all there.

Ed Milliband - do you really think he will get in at number 10 - if so we are all doomed?

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Which leads to the question when does a landlord quit, sell off the properties and retire?

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Which leads to the question when does a landlord quit, sell off the properties and retire?

The answer is when its right for that individual.

We are all different. We all have different portfolios in terms of size, location, type of property etc and we all manage our businesses differently. One only has to read some of the horror stories on these forums to realise that there are many different ways of doing the same thing.

Because of the shortage of local authority housing.....in the main caused by 'right to buy' & successive Government failure to ensure enough houses were built....any Government NEEDS the private rental sector. Any legislation that introduces draconian measures that make a landlords lot considerably worse won't work for landlords, tenants, the Gov' or the country.......most political parties recognise that and realise the need for a balance.

Personally I don't find any of the existing legislation a problem. I try to organise my business to take as much benefit from the advantages and avoid as many of the disadvantages as possible. In life you have to roll with the punches.

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Personally I don't find any of the existing legislation a problem. I try to organise my business to take as much benefit from the advantages and avoid as many of the disadvantages as possible. In life you have to roll with the punches.

I totally agree I think the system is about right. Yes you get landlords saying the system favours tenants and you also get tenants saying it favours landlords.

It is all about correct management, being proactive and educating yourself.

I'm not saying the system is perfect but to change it too much causes an imbalance. What could be changed is to speed up the court systems to get hearings quicker which is nothing to do with housing law.

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Which leads to the question when does a landlord quit, sell off the properties and retire?

Many years ago circa 1983 (before I became a landlord) I met an old lady on a train journey from Waterloo to Bournemouth and we chatted about buying property.

Her advice to me was to only buy small units of 1 and 2 beds so that they could be sold off to provide income if needed - I am guessing she was in her mid 70's then. I have stuck with that advice but have not sold anything yet.

Yesterday I visited a long term tenant who is 86 - he was made bankrupt in 1990 when his company was sued by an a customer over failure the of an engineering product. Now he is lonely and ready to go into a care home and can't find anything half decent under £830 per week. He does not have that sort of cash. His wife is already in dementia care paid for by the local authority. His kids - all similar age to me are all abroard far away and settled. They don't want him. What a grim future.

Trouble is we don't have a crystal ball - how long do you go on for and how many weeks in a care home will a 2 bed house buy?

About 10 years ago hubby wanted to sell one of our rentals to buy a Porsche - I resisted and let is worth 3 X what it was then.

When you have worked out the answer to that enduring question Mel let me know.

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When you have worked out the answer to that enduring question Mel let me know.

:D My question was really hypothetical.

When you can no longer stand the interference from government red tape and non paying tenant's and you are in a dire position of losing shed loads of money would that be the time to throw up your hands and say I quit! To go off and enjoy your money in a happy retirement.

I will never lose the property bug and even now I am looking around for something to develop which I do prefer to do to that of renting out property.

I'll let you know Mortitiia when I hit 80 which I have to say is a long way off at the moment.

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When you can no longer stand the interference from government red tape

I'm intrigued to know which bit of red tape is causing you so much angst. Perhaps some of the members of this forum can suggest solutions to your problems ?

and non paying tenant's and you are in a dire position of losing shed loads of money

Surely some of the risk reduction options open to you such as rent guarantee insurance & home owning guarantors would help ensure that you never loose 'shed loads of money'.

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When you can no longer stand the interference from government red tape

I'm intrigued to know which bit of red tape is causing you so much angst. Perhaps some of the members of this forum can suggest solutions to your problems ?

and non paying tenant's and you are in a dire position of losing shed loads of money

Surely some of the risk reduction options open to you such as rent guarantee insurance & home owning guarantors would help ensure that you never loose 'shed loads of money'.

Not me personally RL Hypothectical questions.

At what point would a landlord call it a day and cash in their profits?

I have ALL the things you have listed above in place like RGI etc. and I don't have any bad paying tenant's.. I don't allow it! :D

Regarding red tape the next Labour Government will have a host of new rules and regulations waiting for Landlord's..... you can bet your vote on it. Has HIP's been completely forgotton?.

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Yeah HIPS is gone but what about the new bill just about to get a reading in the House of Commons on Revenge Evictions. The proposer is a Lib Dem woman MP who is standing down at the next election.

The idea of the bill is to prevent the serving of Section 21 within 6 months of a 'relevant complaint' as cited in section 11 of the Landlord and Tenant Act 1985

http://milesandpartners.com/law-reform-revenge-evictions/

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Personally we plan to call it a day when we see some decent capital growth on the properties. We started about five years ago thinking this would make a good pension. Unfortunately without any growth, we can make a better return from far easier lower risk investments. Our "acceptable" tenant list keeps shrinking the more we learn.

Dave

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Capital growth is very dependant on location & type of property. Prices in my part of Essex have risen sharply over the past few months but prices are slowing which is normal as we approach the end of the year. House prices have grown faster than flats.

Another factor is that rental property is not always sold in top condition. Where an owner occupier may update kitchen, bathroom features etc, a rental property might after a few years be sold in a clean & tidy but often tired condition, requiring an update.....which doesn't necessarily command a top price.

I've sold two this year (January & July) with another due to go on the market in February. All will show considerable capital appreciation.....one bought 5 years ago. All have original 20+ year old kitchens & coloured bathroom suites but neutral colours with good carpets. The prices achieved, as expected, were below that of the top owner occupied properties that have been loved to death & had £000's lavished on them.

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Hello Ryan,

It can be really complicated to be a landorld indeed...

Now I choose to work with an agency which manage this kind of problem for me: they assure me no hassle and a high profitability (I do short term lets).

Hope that can helps you !

Good luck,

Lucy

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,

It can be really complicated to be a landlord indeed...

Now I choose to work with an agency which manage this kind of problem for me: they assure me no hassle and a high profitability (I do short term lets).

Lucy

That'll be a first in the history of Letting Agents.

Care to name them Lucy?

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