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Buying a NB


RedsfanUk

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59 minutes ago, restlessnomad said:

 Have watched the horror show 'cant pay, we'll take it away'. :)

What is the biggest pain point of buy to let btw, in your experience? Because you have already bought it, stamp duty and surcharge are not issue for you.

 

Almost everything about it. Late payment of rent, non payment of rent, disrespectful tenants who are abusive towards tradespeople, tenants who leave and leave the place in a complete mess, complaints to me about noise nuisance.

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1 hour ago, The Welsh Cruiser said:

Almost everything about it. Late payment of rent, non payment of rent, disrespectful tenants who are abusive towards tradespeople, tenants who leave and leave the place in a complete mess, complaints to me about noise nuisance.

sounds pretty bad, but I guess most tenants are good and honest. Are you a private landlord(not employing letting agency), because that requires a lot of involvement.

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Once upon a time I rented out to "aquaintances, they robbed my stuff.

I rented out to a "friend" He complained the place needed central heating, it cost him £66 pcm!

I employed a solicitor to deal with the contract, he changed to contract to suit the tenant without telling me.

No more renting.

Edited by LadyG
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4 hours ago, LadyG said:

Once upon a time I rented out to "aquaintances, they robbed my stuff.

I rented out to a "friend" He complained the place needed central heating, it cost him £66 pcm!

I employed a solicitor to deal with the contract, he changed to contract to suit the tenant without telling me.

No more renting.

Strangers might possibly be better than 'friends'

Edited by Guest
changed my mind!
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9 hours ago, restlessnomad said:

 Have watched the horror show 'cant pay, we'll take it away'. :)

What is the biggest pain point of buy to let btw, in your experience? Because you have already bought it, stamp duty and surcharge are not issue for you.

 

Non payment of rent, property trashed, 2 year court case which ended up at Bristol County court (I was accused of bad practice), two years getting a non paying tenant removed from my property, drugs etc being traded.........

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