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wherebee

It's Just Like Running A Business, Isn't It?

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A tale of a landlord finding out that renting out a property is not a one way ticket to an income stream.

http://www.theguardian.com/money/2013/nov/30/agents-rented-house-fraudster

Presumably he had the right insurances in place? I also know that area, and local families find it very hard to afford to buy a place to live, in part because of the high number of BTL owned properties. I wonder if that causes any of them to get ill and have heart attacks?

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Perhaps there was some legal reason why it was impossible for him to just sell it.

In the spring of 2012 I made a decision which I believe almost cost me my life – to rent out my home. I had no other choice – the property was almost all I had left from a financially devastating divorce in 2010.

Get a job......???

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This is a classic example of the amateur landlord who remains completely emotionally attached to a property that is now a business investment. When you're running a business (which is exactly what BTL is) you have to view it logically and coolly, calculating the risks and benefits of each change in circumstances and reacting accordingly. If you continue to regard your business investment as also your family home then of course dealing with a nightmare tenant (as the guy in this case clearly was) is going to cause you enormous stress and worry.

It also sounds as if he wasn't properly insured against tenant damage and unauthorized alterations and made a poor choice in selecting a letting agent - again, from a business perspective, you accept that you made a mistake, learn from it and move on. You don't spend the rest of your life stressing out and regretting the situation.

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A tale of a landlord finding out that renting out a property is not a one way ticket to an income stream.

http://www.theguardian.com/money/2013/nov/30/agents-rented-house-fraudster

Presumably he had the right insurances in place? I also know that area, and local families find it very hard to afford to buy a place to live, in part because of the high number of BTL owned properties. I wonder if that causes any of them to get ill and have heart attacks?

Looks and reads like a puff piece for the dilution of tenant rights.

The real reason Mr Robertson was left vulnerable was of course due to the deriliction of duty and incompetence of the 'professionals' he employed to look after his interests.

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Looks and reads like a puff piece for the dilution of tenant rights.

The real reason Mr Robertson was left vulnerable was of course due to the deriliction of duty and incompetence of the 'professionals' he employed to look after his interests.

Couldn't agree more.

Thing is though if landlords want to be uber picky about their tenants, they will have a lot of empty properties on their hands

Edited by aSecureTenant

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Couldn't agree more.

Thing is though if landlords want to be uber picky about their tenants, they will have a lot of empty properties on their hands

True. Some want it all though, high rents and low risk. Without knowing the details, seems as others have said he should have sold it.

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So he got 6 months rent, most of the deposit and he doesn't deny they moved out when required.

His main gripe is he didn't like their style of decorating as far as I can see.

He also opened someone else's mail, by "mistake".

Find it hard to have much sympathy for this landlord really.

To Add:

If anyone said they were an "ex-tory" anything that would send my alarm bells off! lol

Edited by DEATH

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Never rent to somebody with an O name! They might be of Irish descent, like me! There will be a load of horse shit in your lounge, and a donkey in the bathroom when I leave! :blink:

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To Add:

If anyone said they were an "ex-tory" anything that would send my alarm bells off! lol

That'll be me then! I used to the tory chairman of this, that and the other - now I'm entirely politically disengaged (and disenchanted). I don't even have a political philosophy any more - let alone a party affiliation. Probably some sort of anarchocapitalist.

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Reading the start of the thread, I though the tenant might have knocked out the kitchen and installed a massive cannabis farm, with a load of 16 yo Vietnamese slaves chained to the sprinklers.

Reading the article I find the living hell this blokes is having to endure:

'Mark O'Keeffe's gave his status as "not acceptable" on the grounds of his "low credit score", while his wife's revealed she had been declared insolvent and was only "acceptable with a suitable guarantor". This was the start of extensive investigations which took up most of my time over many months, resulting in a huge loss of income as I'm self-employed.'

A lot of people who rent have bad credit. Wow!

Extensive investigation FFS? Many hours.??? P1ss off. Try googling.

'O'Keeffe agreed to vacate my property at the end of October 2012. Going by his history, I couldn't be sure he would. And the pressure of the situation was such that a mere few days before, I suffered a heart attack, which would lead to surgery and a lifetime on medication.'

But he did leave FFS! Wuss.

'I was 51 then and the letting nightmare and its potential consequences on my life caused me way more stress than I've ever endured before, or since.'

Here it comes people. Get ready for hell .. . . ..

'I was stunned to see the terrible state of my place: largely unclean, the garden was a mess, a summer house door was shattered and shards of glass lay on the back lawn. Above all, the O'Keeffes' hideous decor remained. All four bedrooms were painted, one with a dark purple wall. The landing, staircase and hall were half paint/half flowery wallpaper – a different style of which, in avocado, dominated the dining area.'

What? The tenant chose a naff colour scheme and doesn't garden! FFS All I can presume is that the LL is a very fussy Gay bloke cos this is just a weekends tidy up.

'For months after I moved back in, many letters addressed to O'Keeffe arrived. Several that I opened by accident threatened forced entry and more if unpaid bills were not settled.'

Letters! For other people!!! The horror!!!!!

'I'm still unable to afford someone to perform the arduous task of . . . . . . . . '

Wait for it ........

'removing all the wallpaper, so it is a lasting reminder of a horrific experience.'

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High risks to obtain high rewards can mean both high financial, emotional as well as health costs.....

The more you have, the more you want to gain from it, the more possible pain and responsibility that goes with it to maintain and keep it. ;)

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Reading the start of the thread, I though the tenant might have knocked out the kitchen and installed a massive cannabis farm, with a load of 16 yo Vietnamese slaves chained to the sprinklers.

Happened to a house down the road to me here in Huddersfield. Now back on the market totally renovated after being gutted to make a cannabis farm by the former tenant (vietnamese). Simultaneously for sale and to rent of course.

There cannot have been any takers for this house in the article for the bad credit guy to be even considered. I'm sure the six months rent in advance wouldn't have persuaded him. The renting agency doesn't force landlords to take tenants they don't want, they usually have a choice in the matter.

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Happened to a house down the road to me here in Huddersfield. Now back on the market totally renovated after being gutted to make a cannabis farm by the former tenant (vietnamese). Simultaneously for sale and to rent of course.

There cannot have been any takers for this house in the article for the bad credit guy to be even considered. I'm sure the six months rent in advance wouldn't have persuaded him. The renting agency doesn't force landlords to take tenants they don't want, they usually have a choice in the matter.

Its not uncommon. Its always Vietnamese too.

I live in a very White town. I see a few poor looking SE Asian, taking out mangy Alsation crosses for a dump in the park.

There's quite a few places where there's a constant stink.

Dope fumes are like BO - very omnidirectional. You know its near but not exactly where.

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Its not uncommon. Its always Vietnamese too.

I live in a very White town. I see a few poor looking SE Asian, taking out mangy Alsation crosses for a dump in the park.

There's quite a few places where there's a constant stink.

Dope fumes are like BO - very omnidirectional. You know its near but not exactly where.

I wish to let out my house as an "illegal cannabis farm", for a while! What are the legal requirements?

Obviously I shall not tell the neighbours, but will it affect my insurance, or jail term? :blink:

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Spent many hours looking into their background. Eh? They paid their rent 6 months in advance. What on earth was he stressing about. Loss of control?

Actually sounds like mental health issues perhaps related to, or caused by, his divorce.

Time to put all these amateur landlords out of their misery. You don't know who the hell you're renting from. No checks, nothing. It's a health hazard for renters and younger people.

I made a decision a while ago, that with regard to major decisions you only deal with professionals, especially when it comes to putting a roof over your head. Yes professionals screw up from time to time, but there is usually an emotional detachment.

So currently I have a 'professional landlord' in the form of an ALMO. I thought I'd chosen a 'professional landlord' previously and had rented from a professional letting agency. But not one bit of it. There was no formal complaints procedure and requests for repairs (namely the heating system) went ignored.

Now when I need my gas boiler servicing a certified gas engineer from the Council attends to it. At my former tenancy when the landlord finally turns up (rather grudgingly, in his spare overalls) to attend to the heating, he promptly botches the job.

No tenant should have to endure unprofessional and mentally and emotionally unstable private landlords who are unable to detach the concept between someones homes and 'their property' from their fluffy, delicate little minds.

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I actually feel sorry for the landlord but what bugs me is the view held by so many landlords that the tenant is merely paying the rent and shouldn't be able to decorate or personalise the property which they are paying rent for in any way. So the landlord gets to have their cake and eat it - get money for a property and not allow any changes to be made so the tenant can never feel like it is their home, they have to put up with someone else's taste.

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Here's the culprit:

http://www.theargus.co.uk/news/10286111.Tory_ex_councillor_is_jailed_for_fraud/

and ...

http://www.worthingherald.co.uk/news/former-worthing-councillor-in-legal-practice-ban-1-4229188

A history of bad tenancies, but he used to turn up in court to repossess people's homes!

I know there's little sympathy for amateur landlords, but this guy was dealt a fairly bad hand.

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So he got 6 months rent, most of the deposit and he doesn't deny they moved out when required.

His main gripe is he didn't like their style of decorating as far as I can see.

He also opened someone else's mail, by "mistake".

Find it hard to have much sympathy for this landlord really.

To Add:

If anyone said they were an "ex-tory" anything that would send my alarm bells off! lol

Dont know what he is winging about deposit plus 6 months rent...nothing a good coat of magnolia would not fix!!! Jog on..

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Spent many hours looking into their background. Eh? They paid their rent 6 months in advance. What on earth was he stressing about. Loss of control?

Actually sounds like mental health issues perhaps related to, or caused by, his divorce.

Time to put all these amateur landlords out of their misery. You don't know who the hell you're renting from. No checks, nothing. It's a health hazard for renters and younger people.

....I agree......there are as many bad landlords as there are tenants.....and yes, if you treat property as your only security in life you create emotional distress and grievance when it is threatened in any way. ;)

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....I agree......there are as many bad landlords as there are tenants.....and yes, if you treat property as your only security in life you create emotional distress and grievance when it is threatened in any way. ;)

Wonder if car rental firms feel the same way?

'Rented out a Ford Focus last week and they left fag ends in the ash tray, and stains on the carpets. MY LIFE IS RUINED'

Edited by aSecureTenant

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'Rented out a Ford Focus last week and they left fag ends in the ash tray, and stains on the carpets. MY LIFE IS RUINED'

Based on the horror stories I heard from a friend who worked for a car rental company, damage and stains were just a cost of doing business, which they presumably add to the insurance fees they charge. Not sure who paid for the car they had to scrap when it came back full of bullet holes.

Of course they were professionals, and budgeted for these things. Not an amateur who thinks his rental fee is just free money.

Edited by MarkG

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Dont know what he is winging about deposit plus 6 months rent...nothing a good coat of magnolia would not fix!!! Jog on..

Yes, but the article says "I'm still unable to afford someone to perform the arduous task of removing all the wallpaper, so it is a lasting reminder of a horrific experience."

Remember: removing wallpaper on your own is IMPOSSIBLE. It can only be done by paying someone else - so if you can't afford it, that wallpaper CANNOT be removed from your walls!

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He thinks he's suffered a problem lol. It's privileged information so I never reveal some of the stories I hear of landlords getting themselves into difficult and costly situations. They're welcome to the enjoy the "property game" from my perspective.

Peter-Robertson-outside-h-006.jpg

Cute dog for that big post-divorce house, all he had left.

Property type: Detached | Tenure: Freehold | Last sale: £274,000 | Sale date: 5th May 2000

Archived rent page (March 2012): http://www.zoopla.co...12-4jh/16777029

Archived for sale page, remembering it was "all he had left after divorce": (May 2013) http://www.zoopla.co...12-4jh/29190547

Is it currently on the market? Yes it is, still holding out for that price. http://www.rightmove...y-41806444.html

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Spent many hours looking into their background. Eh? They paid their rent 6 months in advance. What on earth was he stressing about. Loss of control?

Actually sounds like mental health issues perhaps related to, or caused by, his divorce.

Time to put all these amateur landlords out of their misery. You don't know who the hell you're renting from. No checks, nothing. It's a health hazard for renters and younger people.

I'm surprised there's not been more LLs putting hidden cameras in properties let to young women type scandals.

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