Wednesday, Dec 02, 2015

Interesting magazine article from the beeb

BBC: Why so many empty homes?

The costs of letting, including wear and tear and administration, can outweigh any money taken from rent, he says.
HPI forever.

Posted by chrisch @ 11:37 AM (5365 views)
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1. mombers said...

"The costs of letting, including wear and tear and administration, can outweigh any money taken from rent, he says."
Hard to believe for anything in London, especially the Bezier, where rents are 2k a month. Even if it wasn't a brand new building with typically lower maintenance costs, you'd easily be able to cover maintenance with a few grand a year. Hopefully a lot of these are owned by anonymous companies though and caught in ATED so the exchequer gets something out of them.
Anything that has a rental value of less than a few grand a year isn't really a problem, it's not draining the rest of the economy any more than low value rural land. Bit of a blight though

Wednesday, December 2, 2015 01:39PM Report Comment

2. enuii said...

The example quoted of 'a house in the North Yorkshire resort of Redcar', just about sums up how un-touch the author of the piece is.

Wednesday, December 2, 2015 02:10PM Report Comment

3. jack c said...

@ enuii - I'm surprised the author failed to mention the nearby millionaires row between Southbank and Grangetown !

Wednesday, December 2, 2015 03:49PM Report Comment

4. tenyearstogetmymoneyback said...

The irony is that if you own the property outright than the above is probably true.

Someone who isn't desparate for the money is probably paying 40% tax. Then there are the lettings agencies charges.

By the time you have paid these then your 2000 a month rent is giving an income of about 1000 and that is before any costs of storing items you wouldn't want to leave in a property being rented out.

Wednesday, December 2, 2015 08:09PM Report Comment

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