£100k Inheritance

[Stephen Blair]

thats why you have tenants referenced. Then you get rental guarantee insurance so you get paid no matter what.

 

If only it was that easy! All my tenants had references and guarantors .

The law is sided to the tenant, they know how to exactly do things, they just get the property struck off without you knowing. 2 of my properties were run down over a period of time. I knew nothing about until we were contacted be neighbours to say they had left.

Disconnected extractor fans in the bathroom, piles of wet clothes stacked against a wall, tumble dryer vent moved and pointed into a back porch to create dampness!

All this to get moved up the ladder on social housing, they had just built new houses in our town!

When I brought a team in to sort it all out, they did in in minutes! There was no long lasting damp, just surface that was sorted with a squirt of bleach and open the windows!

I got the black list lifted with 1 phone call, they didn’t even come out and check they buckled when I questioned the credentials of who came out and condemned my houses.

By then you are down rent, lock smiths and don’t forget council tax as they have had it down as free to them so they can decorate!

When I called to claim it as I was re vamping the whole properties I couldn’t as it had been used, tenant just gives a post code that’s not chased up, Landlord needs to have a meeting with a council worker.

The lady on the phone told me it’s just not fare on the Landlords!

Don’t forget the stress it causes and lawyers letters which are a waste of time because if you do win in court, they can pay you back £10 a week! Lawyer said don’t waste anymore money!

Only saving grace I had is I managed to blacklist them due to unpaid rent! Neither of them asked for their deposit back, which to me is an obvious sign of them in the wrong!

1 even had the cheek to call me asking to remove the blacklist, I said give me my £1500 and I will, she went into a rage saying I had my chance and never took it! Scumballs!!!

 

Can’t forget the threat of violence toward my factor after to her and her children! None of these tenants were social, all private tenants!

[donnk]

10 hours ago, Stephen Blair said:

 

If only it was that easy! All my tenants had references and guarantors .

 

All this to get moved up the ladder on social housing, they had just built new houses in our town!

 

so you had social tenants. They wouldn't have passed referencing and all the rental guarantee companies (that im aware of) specifically exclude them. 

 

I rent out several properties, never take tenants who arent paying the rent out of their wages, have pets, smoke or on any sort of benefits and who fail referencing - this includes those who need a guarantor.

 

Only had to claim once (used More Than) on rent guarantee they paid:

 

- all legal costs to remove

- all lost rent

- all damage fixed up and lost rent while it was done.

 

The Landlord Insurance isnt that expensive and can be set against the rent income for tax.

 

So yes it really it quote easy as long as you choose your tenants carefully. I let a respected local agency source them.

[Billhook]

On 19/01/2018 at 17:36, donnk said:

So lets say grant aunt Mildred has finally stopped coffin dodging, costing the NHS a small fortune and left you £100k.

 

What you do with it ?

 

Not exactly life changing sum for sure, but still a not inconsiderable sum.

 

Car ? Hols ? 

 

 

Would a lot depend on the size of Aunt Mildred's estate and the fact that she did not survive for seven years after giving you the gift, leaving you to pay 40% tax?

[Mark Bolam]

Good luck to HMRC trying to get that back from the whores and dealers.

[Stephen Blair]

so you had social tenants. They wouldn't have passed referencing and all the rental guarantee companies (that im aware of) specifically exclude them. 
 
I rent out several properties, never take tenants who arent paying the rent out of their wages, have pets, smoke or on any sort of benefits and who fail referencing - this includes those who need a guarantor.
 
Only had to claim once (used More Than) on rent guarantee they paid:
 
- all legal costs to remove
- all lost rent
- all damage fixed up and lost rent while it was done.
 
The Landlord Insurance isnt that expensive and can be set against the rent income for tax.
 
So yes it really it quote easy as long as you choose your tenants carefully. I let a respected local agency source them.

My last words were they were private.

They never got onto social housing, they attempted to but only got blacklisted but caused me a load of grief in the mean time.

[ag Ed]

On 1/19/2018 at 19:02, Mark Bolam said:

It would certainly be the best week of mine!

 

Only joking.

 

I’d buy 12 Bitcoins.

i wouldn't be too sure, they've halved in value since the summer according to R4 the other morning
a very volatile and potentially risky investment

 

[ag Ed]

buy a small plot of land and get PP to build a 1 bed bungalow and cast a big concrete slab to start a yard

 

[Mark Bolam]

And I thought I was taking the piss with my Bitcoin comment!

[harvey b davison]

Pay off the mortgage (again !!!!)

Buy me and my good wife a small new motorhome

My wife would retire

Life would get a whole lot simpler.