wherebee Posted December 1, 2013 Author Share Posted December 1, 2013 I think the point here is that the LL relied on letting agents who led him astray. But he blames the tenant. That's why I posted this - it sums up landlords who do not recognise it is a business, not a loan of their home to someone for a bit. I had to rent out a property in the UK for a short while; I did my own research on the tenants (used an agent, but....DYOR) , charged them less than market rate as they were good quality candidates, and when the boiler broke just before christmas had it replaced within 3 days. It was a business contract, and I didn't beef about it. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 1, 2013 Share Posted December 1, 2013 But he blames the tenant. That's why I posted this - it sums up landlords who do not recognise it is a business, not a loan of their home to someone for a bit. I had to rent out a property in the UK for a short while; I did my own research on the tenants (used an agent, but....DYOR) , charged them less than market rate as they were good quality candidates, and when the boiler broke just before christmas had it replaced within 3 days. It was a business contract, and I didn't beef about it. +1 Quote Link to comment Share on other sites More sharing options...
Venger Posted December 1, 2013 Share Posted December 1, 2013 I think the point here is that the LL relied on letting agents who led him astray. 'The property was almost all I had left from a financially devastating divorce in 2010.' Yet it's seen a lot of value-inflation, too much in some people's view, worth a bloody fortune now, but at risk of value change in very fragile market conditions. Now on market at a price tag of hundreds of thousands of pounds more than what he bought it for. Doubling in value in 10 years. They're letting agents ! Anyone can set up as a letting agents. He's lucky he chose quite a highly reputable one to go with. Letting agents who no doubt had to find an applicant willing to pay £1,950 PCM. And the letting agent got him the security of £22,800 upfront for a year! Although from my first read it suggested the letting agents kept onto half of that. How many times do you hear of letting agents going under? Wonder what rights any landlord owner would have to that 50% rental payment lump sum (not secured deposit) if the letting agent went under holding such a sum. In those circumstances can imagine many landlords would seek to give notice to tenant, in a quest to make it up potential loss quick with a new tenant, rather than take the loss themselves. 50% held by the letting agent, just landlords asking for trouble in my opinion. This guy claims on the lines the house is his most precious asset, yet willing to let it out to strangers. Even if you use a firm of accountants for your tax affairs, you still have final responsibility for the tax you are liable to pay. On the market for sale at £579,950. Home owners need to try on a massive house price crash for size, and it is coming. Do they know they're even born, floating around in that bubble? If it's so valuable to you, cash it in, rather than risks of renting it out. Their problems are nothing compared to the challenges faced by younger non-owning professionals, who don't have bomad ect. Seems to me you could buy similar house for perhaps a 1/3rd, 1/4 or even 1/5 of the price in many parts of Germany. There's too much willingness to take on other people's problems, even when they're nothing compared to others who haven't made stupid decisions. Quote Link to comment Share on other sites More sharing options...
okaycuckoo Posted December 1, 2013 Share Posted December 1, 2013 I'm not really sticking up for the LL. Honest! This situation has many of the sicker elements of financialised Britain. Crippling divorce. PIMP. Fraudster in the financial services sector. Other people's money used to fund property. Dodgy politician. Unregulated property agent. Quote Link to comment Share on other sites More sharing options...
Venger Posted April 20, 2014 Share Posted April 20, 2014 (edited) It's a tough-life. Separated couples forced to remain living together, even when the maisonette they bought in 2008 has doubled in value... perhaps £200K+ profit above what they bought it for, if they sold into the buying frenzy. Older divorcees with a dog companion, discovering being a landlord carries risks, and when selling, waiting for people to come along and pay what it's worth for big-size family homes. http://www.rightmove.co.uk/property-for-sale/property-41806444.html Last sold 2004 year 2000 £274,000 http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=41806444&sale=10210991&country=england Chuckle-brother and all his property still holding out for a buyer on that other house, which has come to market. http://www.housepricecrash.co.uk/forum/index.php?showtopic=195390&hl= Edit to correct last sold year. Edited April 20, 2014 by Venger Quote Link to comment Share on other sites More sharing options...
ChumpusRex Posted April 20, 2014 Share Posted April 20, 2014 (edited) It really doesn't sound like this tenancy ended too badly for the landlord. It could have been much worse. Edited April 20, 2014 by ChumpusRex Quote Link to comment Share on other sites More sharing options...
John51 Posted April 21, 2014 Share Posted April 21, 2014 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! He got most of the deposit back but can't afford to give a painter and decorator a few days work? Quote Link to comment Share on other sites More sharing options...
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