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Btl Scum Regrouping And On The Offensive. -- Merged

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5 hours ago, Pop321 said:

It depends. 

London, no. Already well supplied by B&B, hotels and existing AirBnB

Large cities, no. As above

Smaller tourist towns, no. As above

Towns with little tourist demand, no. 

Country homes, no. 

Houses in villages, no. 

Oh wait...it doesn’t depend 😉

Yeah but let's have ludicrously low interest rates so the market takes about a decade to clear

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More good stuff from 118:

https://www.property118.com/letting-agent-liquidation-questions-tenants-deposits/

My initial guess is that if tenants do complain, he owns more than just 1 multiple of deposits to them if they were unprotected.

Quote

I’m a hands off landlord that has been using the same letting agent for 11 years.

On Friday I was informed by another Company that my previous one had gone into liquidation and that they have been selected by the liquidator to take over the previous companies properties.

I’m still owed January’s rental income from the previous company.

As a hands off landlord I totally trusted the company that I have used for 11 years however I can’t find any reference to two of the tenants deposits with an appropriate scheme and neither can the tenants.

If the liquidated company have failed to register their deposits then I take it I am liable for them?

What challenge if any do I have against the previous director/owner of the liquidated company?

 

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6 hours ago, Bear Hug said:

More good stuff from 118:

https://www.property118.com/letting-agent-liquidation-questions-tenants-deposits/

My initial guess is that if tenants do complain, he owns more than just 1 multiple of deposits to them if they were unprotected.

 

Hnads off LLL - that sounds more like an investment rather than buskness, taking up his FT hours ......

 

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2 hours ago, EnglishinWales said:

The kind of people who can spend a month's rent in a week on an AirBnB want fancy cottages and country houses not 2 bed terraced houses by a main road.

I was speaking to someone today who does ‘services apartments’ on a large scale and is very successful. He has dozens and I recall him saying (a few years ago) he had a £4K a month cleaning bill. 

So wealthy and we live in a tourist area in Yorkshire. (Very popular). 

He said the amateurs have saturated the market (bear in mind the demand here is massive). He said Jan and Feb were dead. Interestingly he also said those who don’t work really hard during the high seasons will absolutely financially fall apart in winter. 

This guy is an expert and done it for years and says his services offices are proving very important for stability. He has sold a few apartments already (they tend to be held within one house conversion rather than individual flats dotted around) 

If this chap is saying things are a struggle (well a ‘relative’ struggle for him) and we live in a hot tourist town....then I can’t imagine how Airbnb works for an amateur trying to let a terrace in a row in Burnley.😉

(ps I don’t know Burnley and good I haven’t misrepresented an equally strong tourist spot😆

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2 hours ago, Pop321 said:

I was speaking to someone today who does ‘services apartments’ on a large scale and is very successful. He has dozens and I recall him saying (a few years ago) he had a £4K a month cleaning bill. 

So wealthy and we live in a tourist area in Yorkshire. (Very popular). 

He said the amateurs have saturated the market (bear in mind the demand here is massive). He said Jan and Feb were dead. Interestingly he also said those who don’t work really hard during the high seasons will absolutely financially fall apart in winter. 

This guy is an expert and done it for years and says his services offices are proving very important for stability. He has sold a few apartments already (they tend to be held within one house conversion rather than individual flats dotted around) 

If this chap is saying things are a struggle (well a ‘relative’ struggle for him) and we live in a hot tourist town....then I can’t imagine how Airbnb works for an amateur trying to let a terrace in a row in Burnley.😉

(ps I don’t know Burnley and good I haven’t misrepresented an equally strong tourist spot😆

The sooner Leeds BS stops handing out 100ks to brassy tarts from Pudsey, Leeds, Doncaster, Wakefield, etc, so they can buy a little cottage - in the dales, Whitby, etc, the better.

 

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17 minutes ago, spyguy said:

The sooner Leeds BS stops handing out 100ks to brassy tarts from Pudsey, Leeds, Doncaster, Wakefield, etc, so they can buy a little cottage - in the dales, Whitby, etc, the better.

 

fraud

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On 15/01/2019 at 00:55, Bear Hug said:

Quote from landlord:

If the liquidated company have failed to register their deposits then I take it I am liable for them?

What challenge if any do I have against the previous director/owner of the liquidated company?

To be fair, that sounds like a decent attitude: I was half expecting him to say "I assume the deposit is the letting agent's responsibility" and/or "should I sue the tenant for the missing rent?". 

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Kid needs to fill that little goldmine with some more scumbag tenants and just bang the rents up on em toot sweet. Simple business nouse

 

if it were me? I’d be craftily writing a cheeky Airbnb clause into the contract so I can get a few more spondoolies on the weekends -let’s be honest most of my lot don’t/cant read anyway so let’s bang em all in there together (money up FRONT thank you very much) and see where the dust settles

 

 

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2 minutes ago, Ah-so said:

"The overall impact across the portfolio is that the weighted average dividend yield has decreased from 4.09% to 4.01%."

No big deal if you have a stake in the entire portfolio, but it doesn't work like that. Investors buy stakes in the individual properties, so there will be a few unlucky ones who picked some of the dogs. 

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5 hours ago, Ah-so said:

"The overall impact across the portfolio is that the weighted average dividend yield has decreased from 4.09% to 4.01%."

4% is lousy considering the risk.

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Another one for the slaughter

https://www.propertytribes.com/concerned-about-mortgage-rental-income-t-127638338.html

Quote

KLR Yesterday at 10:07

Im in the process of doing a mortgage for a btl, the dip and gone through no problem and my broker will do the full application on Monday.  

After doing some reading it looks my rental income has not been declared correctly, i’ve owed a BTL jointly with my wife, however she is employed and has never done a tax return, the property income was declared by me and I paid tax on it. It looks like the income should have split equally and two SA done, I can’t remember a form 17 or declaration of trust being setup. Is this likely to  get the application rejected, all the other requirements we fit, even though the lender required no minimum income.

Ive done my 2017/18 tax return, worst case, could I ask for mine to be amended and do a SA for my wife, still have until 31st Jan. is it likely the lender will look at this and take a dim view, obviously from now on we’ll both do a tax return and split the income.

 

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I see that the National Landlords Alliance has been as successful as we predicted:

snigger.JPG.99a135ae0ce897d4e1cee4b6dcdbf5e3.JPG

They've never updated their website since the day it was launched. All they have is a Twitter account with 150 followers, tweeting once or twice a day. Over the past week they have tweeted nine times, in return for which they have 7 likes and a grand total of one retweet. That's completely pathetic. A hundred quid for a membership and that's all you get in return.

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On 21/01/2019 at 21:26, Man of Kent said:

I see that the National Landlords Alliance has been as successful as we predicted:

snigger.JPG.99a135ae0ce897d4e1cee4b6dcdbf5e3.JPG

They've never updated their website since the day it was launched. All they have is a Twitter account with 150 followers, tweeting once or twice a day. Over the past week they have tweeted nine times, in return for which they have 7 likes and a grand total of one retweet. That's completely pathetic. A hundred quid for a membership and that's all you get in return.

These guys need to wait until they’ve got a load of subscribers, then just bang the subscription fees up on em toot sweet 

Edited by thewig

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These landlords have basically just chucked some money at a lone weirdo in order fund his vendetta against a charity. No lobbying on licensing, legislation, nothing. 

The weirdest thing is the fact that none of them seem that bothered. Same goes for the life long members of Property118/Landlords Union. What did that get them... yet nobody seems to care.

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You've got to admit it's a good strategy, because key opinion formers about housing policy and the third sector are particularly likely to be influenced by small posters on the side of a hairdressers in Liverpool. 

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