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Fergus Wilson throws in the towel?

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https://www.property118.com/stopped-letting-properties-fergus-wilson/

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Like all employers in the South East I was heavily dependent on an East European workforce. On 1st October, 2018 at 7.30am a Hungarian workman did not turn up for work. He telephoned to say he was on the ferry heading for Calais as he had been offered a job the previous night in Germany. So he just up and went.

Yesterday I lost two more Romanian workmen reducing the number to 6 full time workmen compared to 14 in October 2008.

I have therefore taken the decision to stop letting properties in Ashford and Maidstone for the foreseeable future. Without East European staff I cannot operate!

It is virtually impossible for a tenant to find a property to let in Maidstone. I have sold four houses in the past week and those tenants, all East European, have lost their homes.

If you cannot maintain houses to the correct standard and deliver Heating Services promptly in winter then there is little option, but to cease to rent out properties.

I have tenants who have been with me since 2005 and 2006 and am loathed to end their tenancies, but simply can no longer offer the service necessary.

Whether this is to do with Brexit or not need not concern me. I have to deal with the present day situation. It just cannot go on.

Fergus

 

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Looks like he is using Brexit as an excuse (even if he denies it) to scale back his activities.  If a BIG landlord like Fungus starts to sell properties in what is already a weak market it should have a nicely negative impact on the prices achieved.

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Yes and without E.European staff he cannot operate. Apparently they have magical powers above the indigenous population (the power to tolerate crap landlords and employers probably their main one). 

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hes talking nonsense. the only reason this could be a problem is if he wishes to not pay a standard wage but cheap labour. he allready would have the advantage of scale over smaller landlords by being able to have a full time work crew and not having to hire in contractors or a buisness to do the work.  this is just fergus blowing his mouth off again because he thinks hes important. 

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Oh, dear Fergus is throwing his toys out the pram because he can't exploit people like he could before.

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Nobody forced him to buy multiple properties, one is enough for most people......nobody forced him to borrow so much to buy so many bricks...... nobody forcing him to keep them......choices, life is short too long dead.😉

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I though he has already sold his £250m property portfolio to Arab investors.  How can he be selling parts of it again?

And about his Eastern European tenants "losing their homes" and others simultaneously leaving on their own accord - with shitty quality and security of private rental accommodation, and complete inability to buy thanks to cheap credit property hoarders like Fergus himself, no wonder they are leaving.

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If he paid enough. he'd be able to get as many plumbers etc as he wanted...

I think he's trying to say in a roundabout way that his massive portfolio is no longer profitable... Looks like there will be some amazing bargains in Ashford soon; give it a few months for reality to sink in though :)

Hope he's set money aside for the CGT...

Poor Fatberg. 

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21 minutes ago, rantnrave said:

I love this

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Totally agree FlyingSheep54. The guys a joke.

We manage a huge portfolio, far larger than his, and we do not have issues with tradesmen and women. All of which I may add, are English/British.

The fact this complete idiot relies on foreign tradesmen is none other than him being tight fisted and to be honest, exploiting foreigners…who actually cause more issues as many of them are very poorly qualified and with a lack of experience with regards to British compliance and regulations. This isn’t to say they are extremely hard working but they just aren’t as good, hence why we have several contractors per division and not one of them is a foreign trader.

Nothing to do with brexit at all. He’s just looking for an excuse to be tight!

And

Quote

I’m sure he is a pleasure to work for too!

 

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Bit confused by him saying if you can't fix heaters you can't let property, I went through a hellish winter with one farmer landlord who refused to fix my storage heater, he let me move in probably knowing it was broken as well, b s t d. I didn't bother speaking to the council for help after they refused to help me a few years prior with a previous rental with rapid-growing black mold which they denied existed. 

At least in my county - you can let property in any condition you want!

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23 minutes ago, EnglishinWales said:

Bit confused by him saying if you can't fix heaters you can't let property, I went through a hellish winter with one farmer landlord who refused to fix my storage heater, he let me move in probably knowing it was broken as well, b s t d. I didn't bother speaking to the council for help after they refused to help me a few years prior with a previous rental with rapid-growing black mold which they denied existed. 

At least in my county - you can let property in any condition you want!

just start a campfire in the lounge.  then asked to be moved. 

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Hilariously there probably is a shortage of suitable tradespeople in the area - plumbers were on his list of proscribed tenants (along with battered wives). If plumbers are considered problematic then what are the chances electricians, builders etc are also?

So if you can't buy locally (because fatty) and you can't rent (because fatty) then I guess you'll just have to go somewhere where you'll be welcome...

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21 hours ago, dougless said:

Looks like he is using Brexit as an excuse (even if he denies it) to scale back his activities.  If a BIG landlord like Fungus starts to sell properties in what is already a weak market it should have a nicely negative impact on the prices achieved.

Fatty is ot in charge ver his destiny.

The bank are driving this. And have since 2008ish.

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  • 146 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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