Associate
- Joined
- 10 Jul 2018
- Posts
- 510
- Location
- London.
I don't get the reference.Chris Wilson, is that you?
The joy of being a landlord
- Thread starter Quartz
- Start date
"Just fund our system better"...
Have you been paying attention lately, how would you get the money to fund the HE system better? And of course every other part of the economy (care, health, farming etc etc) that has just collapsed because you have have just stopped every immigrant from coming into the country.
If only the answer to complex problems was simple solutions, life would be much easier!
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Associate
- Joined
- 10 Jul 2018
- Posts
- 510
- Location
- London.
Our economy wouldn't collapse if we stopped more people coming, there are millions of unemployed people in the UK.
Well, 1.32 million (singular) of which the vast majority are just in-between jobs and unemployed for less than 6 months (~70% of the total), so it's a tad overly simplistic (again) to equate a 1-1 of unemployed person and suitability for the job vacancy required.
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Hit something of a milestone today - paid off the mortgage on our rental flat! Thought some of the fellow OcUK landlords might appreciate it.
Also, due to some “interesting” developments over the last year, we now also own the freehold (of our flat, not the whole block).
It was already under a RTM so should be an attractive proposition should we ever come to sell.
Now we just need to pay off the mortgage on our primary residence. Might take a bit longer to clear that one.
Also, due to some “interesting” developments over the last year, we now also own the freehold (of our flat, not the whole block).
It was already under a RTM so should be an attractive proposition should we ever come to sell.
Now we just need to pay off the mortgage on our primary residence. Might take a bit longer to clear that one.
Nice, it’s a great feeling.
I’m sure all the posters in this thread will be super happy for you.
Wait what? How does that work - presumably there are other flats above and/or below you? Which would ordinarily imply that you can't own a freehold just for your own flat but freehold ownership would need to be a joint thing no?
Unless maybe some special situation like you have a ground floor flat as part of a single story building attached to the rest of them so the land is only relevant to your flat?
The guy who converted the building into flats was a bit of a Del Boy (part of the reason we went to RTM a few years ago was because he was in bed with the previous management company and they were useless).
It turns out his company went bust and the freehold was passed to the Crown Estate. None of the leaseholders were informed about this, we only found out when one of our neighbours tried to sell their flat and the solicitors picked it up.
It’s been a bit protracted, but all of the leaseholders agreed to buy their share of the freehold.
So we own one nth of the freehold, the new deed isn’t specifically for the ground on which our flat sits.
When I said we own the freehold for our flat, I wanted to make it clear that we hadn’t just bought the freehold for the whole building.
Ah OK, that makes much more sense - owning a share of the freehold is not uncommon. Much easier to coordinate buying the freehold for a small block of flats too.
Had the rent review for my property today, and boy the agents really go for the jugular when it comes to increasing it!
I'm guessing they think of a number, double it, then add a bit more for good measure, and just for the lols tack a wee bit more on.
It'd be comical if it wasn't so ridiculous.
I'm guessing they think of a number, double it, then add a bit more for good measure, and just for the lols tack a wee bit more on.
It'd be comical if it wasn't so ridiculous.
So what do we all think of the latest ideas from the new government, for example
If you rent a property you can’t sell for two years and have to offer it to the tenants.
Rents capped
No fault evictions gone, you can only evict if you can prove it would be worse for the landlord than the tenant if you didn’t..
Probably some other stuff.
If you rent a property you can’t sell for two years and have to offer it to the tenants.
Rents capped
No fault evictions gone, you can only evict if you can prove it would be worse for the landlord than the tenant if you didn’t..
Probably some other stuff.
Glad I've already sent a section 21 and selling up next month
Every landlord I know personally is selling up or already has, and those I speak to elsewhere are doing the same.
Even my solicitor mentioned how many are selling up now.
I'm giving it another week to try and find the right tenant (the management company has turned down quite a few so far) then I'm doing the same and will just invest the money elsewhere.
Rents are about to go even further through the roof due to the government "ideas" and lack of available properties.
Who'd have guessed it eh? (that was rhetorical)
Don't worry though guys, they'll be plenty of new housing, so everyone can realise their dream..
labour.org.uk
JUST ANNOUNCED: Labour will build 1.5 million homes to save the dream of homeownership – The Labour Party
Keir Starmer has pledged to get Britain building again – starting with one and a half million new homes across the country within five years of a Labour government. In his speech to Labour Party Conference, the Labour Leader said he would recapture the dream of homeownership with help for first...
labour.org.uk
The penny is starting to drop, and it's not like anyone said it was a terrible idea absolutely ages ago.
That said, I don't think anything is set in stone yet, but one would like to think that the government would at least have the foresight to see the upcoming problems.
Or not.