For all you southerners - Preston 2 bed flat for £30K.....

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Could even be housing benefit direct, if they owe more than 2 months.
Or universal credit, that I will have to get my head around eventually.

But then if the tenant abuses the system that dosh gets taken back from the landlord, ask me how I know.

But you can always repossess the property, at some distant far off time in space. But who's next, another abusive git?
{cough}
 
That sounds awesomely cool 😎 🥳
My BIL and SIL just bought one in London as a pied a terre. They live on Guernsey and it was by far the cheapest way to have a base in London. It’s good fun on the canals as well. We helped move the boat and had to go up the Hanwell Flight (6 locks in a row).
 
Definitely the cheapest way to live in London, and not damp at all, she does have a log burner, heating and a gas shower / hot water supply .... I know this as bank of dad helped out !

Still a worry though...
 
time to sell up and get out of the business me thinks…
Two of my friends are doing just that about 7 properties between them , some houses have been 'allocated' to sons and daughters , don't ask me the details, no idea . Both have been complaining about the whole 'landlord' thing for a while now.

Do not fret , neither of them is going to end up poor....;)
 
time to sell up and get out of the business me thinks…
This started in Wales, although I've no experience of Scotland.
This year I've sold 3. I would like to sell 5 flats over there, but I'm waiting to see if legislation reduces the power of the freeholder of those.
My gripe is that my portfolio was designed as my pension, I have near naff all otherwise.
The continual attacks on the greedy capitalist landlord have slowly reduced profits. The responsibilities toward tenants have increased massively. The risk to reward now feels too much to carry.
Tbh I feel the meddling and ongoing changes to the legislation have gone far too far. The expectation that private landlords will carry the needs of the lesser abled / desirable tenants is misplaced. The end result will be more hardship on tenants, with more legislation to attempt to compensate the loading on the government of the day who will be tasked to do something.

I no longer invest in my properties. If the tenants can't manage to live in the reasonable property they took, and have let it / caused it to deteriorate then tough. I satisfy those legislative requirements that keep the clip board warriors off my back.
When I sell, although legislation aims to make that more difficult to sell as empty, some hero will take it and prove to the world he / she / it can do a better job.
 
I was out with some old school pals last night.
One guy I haven’t seen for about 25 years and he’s in the property business. He was saying that the new reforms will be a major headache for him.

Him and his brother own a triple figure amount of houses in North London!!
 
time to sell up and get out of the business me thinks…
We've had a decade of changes to the Buy to Let market: increased regulation, greater landlord responsibility, reduced tax breaks, increased scrutiny of capital gains.

All at a time when the demand for student housing has accelerated - especially at the top end of that traditional sector.

While interest rates were going down, landlords stayed in the market, and asset values rose.

But now that interest rates have risen again, the business case has been transformed.

And a lot of Boomer Generation landlords (60-80 year olds) are cashing in their "pension" and "inheritance" properties.
 
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And a lot of Boomer Generation landlords (60-80 year olds) are cashing in their "pension" and "inheritance" properties.
Part of the reason is,
and I'm speaking from personal opinion (so isn't going to apply to all),
that we are looking at life and the decreasing remainder of it.
The thought of dealing with this increasing cr*p has no appeal as I get older.

When younger I had the energy to refurb', often after another abusive tenant left, with debt to me and others.
I had energy to face these types, and deal with their 'attitude'.

Many have a better class of clientele, and as their abilities diminish dealing with that clientele may not feel so daunting. But I see a scenario where an abusive tenant will stop all payments once I serve a repossession. Following the expiry of any notice (it's actually the expiry of the period before the notice becomes usable) a far off court date may still see a judge allowing such an abuser a 2nd chance to right things. While losing the rents (as the money from a stone isn't realistic), I pay for the court service to then slap me down further.
Getting a property back using the present no fault section 21 repossession is already feasibly expensive. That gone, due to socialist tendencies of any Gov't, and risks are massive.

But for along time I have said that my buy to let business is no longer mine. I am merely an agent for the Gov't, that being because the way I run the business is prescribed and no longer my choice.

**** 'em.
 
That will still reduce the yield…..
A can of beer is cheap.... :banana::banana::banana:
 

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