Carryon Regardless

and to make it worse around N Wales Shelter are waiting with their guns cocked. The local police aren't pro active, more there for the clean up after the event. I hear the police sirens and consider them to be a Saturday night taxi service for the regulars and their overnight stay. I bring my waste home and tip it local as at the Rhyl municipal recycle centre the restrictions to use make it nigh on impossible. It's no wonder their country lanes are used for old sofa's and mattresses. But there are parts of England that aren't much better.

I'll have to check to see if they provide the Occupation Contact for Wales, can't use an AST any longer.

Pretty much as Gampa, I don't used signed for, if they don't it would come back to me. Cert of postage as proof a letter was sent, allow 3 clear days prior to assuming it has been served. I understand not wanting to deliver by hand, but for me more often i have communicated my intent. I often go in person, attempt to deliver into the hand, and request a signature on my copy. If they don't I've lost nowt. It often focusses their mind to the forthcoming repossession. If they don't come to the door I photo the envelope in the letter box. My hope is that they call the police, or I get called by Shelter. That adds clarity to my proof of service.

It isn't just tax changes that get us. I sold the house earlier this year, to enjoy the 2x personal relief I requested the solicitor to transfer the property into joint names just prior to the point of sale. This we have done previously. The buyers solicitor refused as 'I think' the mortgage company of the buyer required that a property has to be owned by the seller for at least 6 months. For an additional £325 my solicitor created some sort of deed of joint ownership that would satisfy HMRC for the tax benefit.

A sort of obvious may be CGT accumulated in the same year. It might mean a greater portion becomes higher rate. But rumour is there will be an increase to consider. I'm considering keeping a house empty till next financial year before sale, because repossession is more than 12 months now. That's because I've sold one already this year and another is up for sealed bids right now.

Mel don't most, non fixed rate, mortgages effectively track the BofE rate? Is there a difference in what you describe? Our home mortgage tracks the BofE + 0.48%, so I've enjoyed the period of low interest. My BtL mortgages all have passed their fixed rate periods so are tracking the BofE rate also, although at a significantly higher rate over. I have been told that BtL mortgage provides are already requiring a 50% deposit. I don't understand why this has arisen as I'm not aware that BtL investments are a greater risk than home buyers. Unless they are now factoring in legislation that does of course present us with greater loss risks. But yeh these are strange times, it feels like nothing can be relied on. So who knows where to invest? That can't be good for any economy.

I agree interest is likely to rise. I suspect at 5 - 5.5% within 2 years. In truth 4% + used to be considered healthy. We have become used to the extra ordinarily low rates is all. But as much as the media don't report as much as create there are stories coming through of the hardships being experienced in the BtL sector. A lack of available finance for BtL. Reports of a lack of available rental properties and with that increasing rents. this introduces possibility of a less offensive approach to us poor down trodden risk takers. This should be an opportunity for many renters to evolve to become owners, but as we know financing house purchase is becoming more difficult. Although much of that is psychological due to the finance sector hike following the mini budget. There is also the lack of deposit that many renters find themselves trapped by due to rents taking much of their hard earned. I view that the mortgage industry is now ahead of the BoE rates. I see them effectively waiting for the BofE rates to catch them up, with possibility of the providers reducing by perhaps 1% in competition. But not till they have a restored confidence in the countries financial future. But in short, while we may be heading for a global financial precipice, as people get used to the new rates, and after house prices have receded some, a new stable will return and buyers will buy again. Of course if we are going in to a crash greater than 2007 / 08 ignore pretty much everything I've just said.

As RL too many variables. How much of the investment will be mortgaged? Is the investment in a high employment area, include high quality of employment in that question? Are we considering freehold or leasehold, what is the belief that legislation is coming to change leasehold situations? I realise that goes beyond the cost of living consideration but has relevance to an investment. Self management or agent management makes a considerable difference to returns and understanding legislation.

I put my own board up, that has great success. I used to advertise in local rags, that was successful. I found Gumtree got unrealistic responses, some from great distance for some reason, perhaps they were just filling their day. For me long term sick ok, unemployed not. No animals, but the Gov't look to be changing our say on that. No under 25's. Guarantor every time, and I check them more than the tenant for financial status. In flats no kids, but mine are 1 bed so would be over occupied.

Run the addresses through the Lang Registry site https://www.gov.uk/government/organisations/land-registry You can search for the owner details for £3 per search.

We've all been through the process of buying and letting. You can use an Agent for find only (tenant that is), through to full management. You are still responsible where an Agent screws up. That could be expensive but also legally daunting. Cheaper properties are often cheaper for a reason. Generally I would expect greater risks associated from cheaper properties. This is from personal experience. As the Russians say the greedy man pays twice. Cheap 'aint always a bargain. While a feasibility calculation on higher returns (%wise) may look more attractive, the downsides might mean the extra % is harder work and more risk. I also have the personal experience of managing 7 properties at around 75 miles away, another is 60 ish. My hindsight tells me they shouldn't be more than 20 miles, and there is advantage to them being not too close. Although a friend manages properties in our same town w/o serious issues. While researching look out for horror stories, there are plenty. Also try to get your head around the ever evolving legislation, that is scary. There are often local council requirements and even licencing (even before you consider HMO's, which I wouldn't).

I've been emailed by Bulb, and I'm in credit. No surprise we are at the colder end of summer. But they are going to reduce my monthly payment, I haven't used the abacus yet but would expect my credit to disappear rather speedily. They have included the Gov't assistances in their calculation. How much of this do I need pass to my tenants? Now that diesel is coming down in price clearly my travel to properties is cheaper, until the WRA start to charge per mile on the A55 at least. Meanwhile how much of this saving should I be passing to my tenants. Ah, but as interest rates are rising I must be able to pass on those additional costs to the tenants. Kanrent maybe it isn't really complicated. If our overheads rise we charge more, if there is a reduction we charge less. This is to maintain a more consistent pre tax profit. By legislation I believe this will be designed to be approximately zero, so forget the tax bit.

A landlord being unable to know the energy used by a tenant is a point recognised. I'm sure my tenants aren't too unusual in that all light on and doors open, while heating full blast would be a norm. Step daughter rents a 6th floor flatment on Docklands. Even in winter the place is warm w/o heating on. The last in Hammersmith had a communal heating and hot water set up. Here I can see a landlord might gain advantage if the properties are economical for energy use. But if a landlord now inflates the rent to compensate the higher energy costs, and maybe again later, isn't this effectively charging the tenant for the energy? I thought we were prohibited from doing that?? It isn't something I have ever considered doing so may well be mistaken. So I still see that if the landlord receives the £400 as bill payer, then must pass it to a tenant, the tenant isn't paying for the beer at the bar but is given the change.

https://www.bbc.co.uk/news/uk-politics-62978908 I must've read it wrong, no one would expect a person to be given a rebate on costs some else had paid.

Is this me, am I viewing this wrong? A landlord who pays for energy at a property and doesn't charge a tenant for energy must pass on the rebate received 'by the landlord'. As I see it the landlord will be hit by increased energy costs, but the tenant will get the rebate for those increased costs. Thankfully my tenants pay their own energy, in theory. But is this another ridiculous attack on landlords?

Well yeh it is National, or so they say. I wondered if they are in France trying to get back to Blighted. They deserve a holiday I'm sure, but how many years have they been there.

Nice thinking. It would make the bringing of such properties up to standard easier. After all it looks like we'll never be able to re possess. Does anyone see a point to the RLA these days?

Consultation BS. It's merely the Gov't creating a non situation where they can tell the naive that they have done something useful. Where local Gov't act on tenant complaints it's often that the cause is ignored and the LL will be threatened if remedial actions aren't carried out at speed. That's Manchester nearly 10 years ago. Prior to Rent Smart(arsed) Wales an inspector actually did blame "tenant life style" and left me alone. Huzzah.

Fortunately I have a couple of tenants that prioritise rent payments, as they see that as ensuring a roof over their (and families) heads. A bit like i might view our home mortgage. Others have read and heard enough media to know that I am a money grabbing sleaze bag that doesn't do anything to deserve the rents I charge. Tbh there is so much of this reported I start to doubt that it is reasonable to expect these rents for myself. If only i could persuade my lending sources that this has merit.

Thanks for the warning Mel, but it would have been better 2 years ago. But, er, us English in England have it coming our way. I don't even think we are collateral damage, more like targets.

Another thought, will the ombudsman be as impartial as the DPS claims?

https://www.parliament.uk/site-information/glossary/white-paper/ So the Gov't have considered this, and now want it passed into statute. It might well be amended some, as I understand it. https://www.gov.uk/government/news/new-deal-for-private-renters-published-today S21 gone. All tenancies to be periodic. We can't hoof w/o good reason, so effectively it will be a courts decision. The tenants can leave as they desire w/o responsibility for the remaining period (as i see it there wouldn't be a remaining period). We become more like a hotel provider. Vague as 'eck that tenants can apply for a pet and we can't reasonably refuse. What the 'eck does that mean? Are exiting tenants able to force this? But as a much loved pet it wouldn't be until they have it. Could they take in the pet 'and then say it has become much loved'? Will shelter be creating claims for 'lifestyle' deteriorated properties? Tenant abuses the place, Shelter claim for the rents to be refunded. I've said it for Wales, and I anticipated it for England, they don't want us, they aren't scared of the landlord exodus.

I think the winge is that some tenants are effectively paying the energy cost as part of the rent. The obvious contradiction is that the increase of energy costs can only be passed on to those tenants come rent increase time, so in many cases the landlord will be absorbing the increase, I imagine. I don't get involved with the energy accounts anyway, and as legislation dictates just suffer the inconvenience when a tenant has migrated to a perceived cheaper deal of a company that is a pain to deal with. This is just Shelter gobbing off again methinks. They are a major cause of the cr*p that comes our way and last month were complaining legislation effects are causing the exodus of landlords and so increasing rents. The fum ducks should be careful what they wish for.

RL you're assuming it's minted, but that was the polar bear.

I didn't realise I would be penalised on remortgage in 2008. It was heavy, and if I bad waited e few months would have passed it. Super doh. My guess is that in 3 years we will be at approx 4 - 4.5% base. Beyond is too much for my crystal ball, and in truth I feel a new world order may be looming. But I am a witch / landlord so feel free to come to my hanging.