Wednesday, Aug 12, 2009
Amateur Landlords Watch Out
Evening Standard: Travellers living in £1m house on benefits
Why get a job when you can rent a £1m house for free? (and then smash it up).
Posted by cyril @ 10:40 PM (648 views) Add Comment
6 Comments
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1. Harlow Pikey said...
Oh come on! We aren't wanted in Ireland so we come to England where central Govt tell each local authority to find more traveller sites as we are now treated as a seperate ethnic minority. There are not nearly enough sites and the Police are afraid of us. Our reputation for thieving is totally undeserved. So here we are looking for sites but all we can be given at your expense is a static bricks and mortar house which we don't wish to live in.
So don't blame us if we don't want to live like you.
2. europeanbear said...
1 million pound house?? Why is it only being let out at 2400 pm. At 1million that's a pathetiucc yield of c 2.5-3%. Based on the rental yeild (and it seems the council were offering a "good" rent), it's worth about 400,000 at most.....1 million is sheer delusion to make a good story...
3. little professor said...
But... but... they're white! I thought it was only those nasty forruns that were getting plush pads at the taxpayers expense?
4. little professor said...
Oh, they are gypsies. That's OK then - the BNP fascists can breathe a sigh of relief.
Europeanbear - checking Rightmove, the cheapest 5 bed detached house for sale in Totteridge is £2,000,000. Not beyond the realms of imagination that this house is worth £1m. Now, why the council decided to house them in this area rather than farming them out to a cheaper area of Barnet is beyond me.
5. yoyo1 said...
It just gets better all the time, a new delivery of laptop computers are on the way, courtesy of Her Majesty's government.
6. drewster said...
£2,400pcm on a £1m house only makes 2.9% yield, before any costs. In general more expensive properties cost more in maintenance and upkeep (simply because they are bigger), and if the landlady was desperate enough to let it to council tenants then she must have had a fair few voids already. In the long term that house simply isn't worth a million.