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chichi

Landlord Taking Over

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We think the private rented house thats been empty is being sold to the landlord who's buying up the rest of the street. He's apparently been snapping up houses left right and centre - asking people on the road if they'll sell.

It's a bit worrying. What's his motive?

There's a big bit of empty land behind some of the houses and he apparently tried to buy that off the council but they wouldn't let him.

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What he might do is buy up the entire street. Renovate all the homes and bring them up to a high standard. If there are any council type residents, move them on.

After doing the above, the price of the properties on the entire street will be higher, ie. not only are the properties now refurbed, but the neighbourhood/street will be populated by richer people, who can afford the properties being sold for a higher price.

If you refurb a single house on a street, you will get a higher return.

If you refurb all the houses on the entire street, you should see even higher returns.

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Guest Marvin Bush

Is he muslim or other asian?

He's going to move his family in. That street will be his family's street. I've seen it done.

Pure speculation of course...

Edited by Marvin Bush

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Is he muslim or other asian?

He's going to move his family in. That street will be his family's street. I've seen it done.

Pure speculation of course...

No he's white british.

His family live elsewhere.

I wondered if he was planning to own the street so he could demolish it and build a massive house...

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Jyst guessing - but it is normally the case that larger plots of land are worth more to developers. It may be that the street will eventually be demolished and the land behind joined to it to create very large plot for development. The landlord may have tried to buy the plot behind to capture the gain on that as well - but will have to share it otherwise.

I used to rent a semi detached house with a big garden and another large detached house in a very big garden behind. I toyed with the idea of buying the semi I lived in and then going to the owners of the next door semi and the big house behind and suggesting that we all chip in our properties to create big bulding plot. It would have had a direct access to the main road and a total 'in cost' of about £2 million but with planning permission for 10 x 2 semi detached houses it would have been easily worth £5 million. Shame I did not go ahead with it really - it would have worked as somebody else did it down the street on a smaller plot.

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gardens are classed as brownfield site, you could probably build an entire estate on the land and gardens of a street. How big are the gardens?same reason landlords try to buy up an entire block of flats.

Alternativly he might just want to show off to friends, telling them he owns a street monoploly style, would make collecting rent easier...

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