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New Trend In Renting(?)

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Feel free to tell me my landlord is talking crap and that this has been around for years but I got talking to him on the weekend and he's trying to expand rapidly buying old building and turning them into cheap shared-kitchen flats, cash-up-front, short term rent (1 week if you want it), no reference required. He says no-one else in the north west is doing this.

I was completely fed up of paying apartment buy-to-let investors lots of rent for a city centre flat and decided to save some money. I live a bit like a student but it's cheap and can save lots of money. Where I currently live is an old hotel. It's very tatty but you get used to it.

He said demand is very high at the moment.

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Feel free to tell me my landlord is talking crap and that this has been around for years but I got talking to him on the weekend and he's trying to expand rapidly buying old building and turning them into cheap shared-kitchen flats, cash-up-front, short term rent (1 week if you want it), no reference required. He says no-one else in the north west is doing this.

I was completely fed up of paying apartment buy-to-let investors lots of rent for a city centre flat and decided to save some money. I live a bit like a student but it's cheap and can save lots of money. Where I currently live is an old hotel. It's very tatty but you get used to it.

He said demand is very high at the moment.

sounds like a doss hostel with those lengths of lease, I'll bet you'll get some interesting characters coming in...

"I just need to lay low for a couple weeks like la, once big barry gets here with the funds we'll be off la"

"here, didn't you kill my brother? no? oh, must have been me then!"

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A guy bought my brothers semi, and the adjoining one, for a top price at peak and gutted both to do something similar.

I seriously doubt he bothered with any sort of planning permission, but owning an adjacent garage and forecourt

he has a fallback if the sleepy authorities are ever roused.

I guess it's ideal for Poles and migrant workers wanting a cheap deal.

As "flexibility" increases and we are all getting the work where and while we can, I think these sort of places will be very popular.

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The big money has always been in HMO. Buy a 3 bed semi, convert the living room and dining room into a couple of extra bedrooms. Charge £500 pcm for each room, makes £2,500 a month.

Management needs to be very hands on. No resident will ever clean the loo or kitchen so you need to do that. Rent collecting is door-step business with a lot of haggling. But if you've got the balls for it the big bucks are there to be made.

Eg in London, house purchase £350K, mortgage is £1500 pcm, other costs may absorb another £500 pcm and there's £500 pcm clear profit. Rinse and repeat!

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In my early years, I lived in a bedsit, a house with 6 bedrooms. All the rooms were let out to foreign students, no HMO required. All cash in hand, no deposit, go when you want. The landlady lived upstairs. Her neighbour was doing it too. £250/month all in.

More risky if the owner didn't live in it.

Edited by Money Spinner

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Eg in London, house purchase £350K, mortgage is £1500 pcm, other costs may absorb another £500 pcm and there's £500 pcm clear profit. Rinse and repeat!

Hmmm, I reckon I would not be able to manage more than 4 such houses without tearing my hair out.

£2k gross pcm to clean after HMO-types (I do know how messy they can be) and haggle with cheapos for cash rent?

Then, there is the HPC to consider.

Thanks but no thanks.

Edited by Cash with Nowhere to Go

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The big money has always been in HMO. Buy a 3 bed semi, convert the living room and dining room into a couple of extra bedrooms. Charge £500 pcm for each room, makes £2,500 a month.

Management needs to be very hands on. No resident will ever clean the loo or kitchen so you need to do that. Rent collecting is door-step business with a lot of haggling. But if you've got the balls for it the big bucks are there to be made.

Eg in London, house purchase £350K, mortgage is £1500 pcm, other costs may absorb another £500 pcm and there's £500 pcm clear profit. Rinse and repeat!

Bardon made a nice poiunt some time back that the most reliable and best profits he ever made over the long term were with nice family property, just by contrast

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There never has been a reference requirement for shared accomodation, unless the landlord required it. Also you have no security of tenure and can be asked to leave at a moments notice (like a hotel).

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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