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A mate of mine has converted his ( unsellable ) house into a multi-let property, let out all the rooms as easy as pie and is now renting a nice house in a much more desirable area.

To be honest, he is getting GREAT money for it !!!!

Saw 2 other friends of mine yesterday, guess what...they're getting into multi-let too.

It appears we have reached the bottom of the barrel.

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I see no weak links in his business plan.

I was into "multi let" in a big way back in the 1980's and in Northampton too.

Depends on how many you "cram" in. Expect a visit from Mr Fire Officer and Environmental Health, oh and Planning.

Edited by Sir John Steed

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I was into "multi let" in a big way back in the 1980's and in Northampton too.

Depends on how many you "cram" in. Expect a visit from Mr Fire Officer and Environmental Health, oh and Planning.

here are some for sale in Exeter at the Fulfords auction.

I suspect the seller has had a visit from the above bolded.

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I was into "multi let" in a big way back in the 1980's and in Northampton too.

Depends on how many you "cram" in. Expect a visit from Mr Fire Officer and Environmental Health, oh and Planning.

my thoughts

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Whose he let to?

Immigrants?

Students?

I'll ask him next time I see him.

All I know, the house is filled and he's making about 1200 a month profit !!!

What's the point in working?

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Homes of multi occupancy are labour intensive but the flip side is that because the property has several tenants voids are less damaging to the bottom line. The yields tend to be must high than a normal let. However as already pointed out they must meet certain regulations which vary depending on the number of tenants. Reading various trade periodicals I suspect that the sector has a habit of attracting providers of a lower moral standard. That plus the fact that policing of these seems to vary from area to area leads me to be amazed that there are few disasters in this sector.

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Whose he let to?

Immigrants?

Students?

Probably people like me! I lived in a place like this in the early 90s when I needed somewhere "cheapish" to stay in London during the week!

As has been pointed out, there are a whole lot of regulations to adhere to! :huh:

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Reading various trade periodicals I suspect that the sector has a habit of attracting providers of a lower moral standard.

Oh, you've met my mate then :lol::lol::lol::lol:

The point i'm trying to make is that now 2 independent people decided Multi-Let is the way forward to make easy money....where's that idea spring from?

Edited by TheCountOfNowhere

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Here's why:

http://www.communiti...pdf/1759707.pdf

This circular gives guidance on planning regulations, in particular on changes

of use for dwelling houses and houses in multiple occupation following

changes to legislation in April and October 2010. The general effect of these changes is to

allow changes of use between dwellinghouses and houses in multiple occupation to take

place without the need for an application for planning permission, unless a local authority has specifically

identified an area in which planning applications will be required.

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So over the last few decades...people have gone from being able to afford to buy 2 up 2 down terraces houses, then to 1 bed cluster homes, 1 bed flats and are now being crammed into 1 room.

What a **** state of affairs.

Well done the Ex-Labour Government, they really gave the working class a better life. :unsure:

Edited by TheCountOfNowhere

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So over the last few decades...people have gone from being able to afford to buy 2 up 2 down terraces houses, then to 1 bed cluster homes, 1 bed flats and are now being crammed into 1 room.

What a **** state of affairs.

Well done the Ex-Labour Government, they really gave the working class a better life. :unsure:

This is the future

http://www.nytimes.com/2010/01/02/business/global/02capsule.html

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I'll ask him next time I see him.

All I know, the house is filled and he's making about 1200 a month profit !!!

What's the point in working?

So after all expnses for the multilet and his new rent he clears 1200?

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So after all expnses for the multilet and his new rent he clears 1200?

I'm going to visit one of his tenants and start a fight with one of the others. I will then slip away quietly listening while they wreck the place.

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So after all expnses for the multilet and his new rent he clears 1200?

Yes, his mortgage is a pittance ( because of the interest rates )

He has 6 rooms, £350 including all bills a month on average = £2100 pcm, so he's paying out £900 on bills/costs.

Easy money.

What's the catch, I'm buying a multi-let too :-)

No, hang on, I have some morals.

Worth remembering though that 1200 quid is going to pay his rent now, plus he will have to be taxed on it.

So he's not actually any better off at the mo, just get's to rent somewhere nicer.

Edited by TheCountOfNowhere

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Yes, his mortgage is a pittance ( because of the interest rates )

He has 6 rooms, £350 including all bills a month on average = £2100 pcm, so he's paying out £900 on bills/costs.

Easy money.

What's the catch,

snip

probably the mortgage.

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Yes, his mortgage is a pittance ( because of the interest rates )

He has 6 rooms, £350 including all bills a month on average = £2100 pcm, so he's paying out £900 on bills/costs.

Easy money.

What's the catch, I'm buying a multi-let too :-)

No, hang on, I have some morals.

it's not morals - just sounds difficult; will have to turf out and sort out some real cases who it would naturally make sense to feel compassion for, except they will cost you searly if you are not ruthless

I am sure this is hard and emotionally taxing work

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it's not morals - just sounds difficult; will have to turf out and sort out some real cases who it would naturally make sense to feel compassion for, except they will cost you searly if you are not ruthless

I am sure this is hard and emotionally taxing work

Im sure it is. I guess you'd get a lot of people down on their luck ( especially in Northampton compared to London perhaps ).

I personally wouldnt want to be chucking people out on the street.

For 1200 quid a month tho.... :lol:

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HMOs are the most profitable form of housing. Conservative changes have made them even more profitable than before relative to the housing benefit rates of family properties..

Family housing is being converted to HMOs.

You ever tried living next to one, or heaven forbid inside one!

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  • 284 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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