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laurence meade
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laurence meade
This is exactly what happened to me and mine when we married forty years ago. Financially it hurt like hell - having to buy a house that is. Nothing to rent and we had to sell our souls to the financial people to buy a small house that we did not really want. Thanks to Harold and his labour acolytes for that one. Lots of fantastic theories to get votes back then. The next step will be to put up interest rates at regular intervals to see how much today's poor small houseowners can stand. Last time it was 18% p.a. but it was truly amazing how fast the new Tory government sorted that out when the realisation hit that the country had come to a stop with people absolutely KO'd financially. The answers then were two fold. Cut the interest rates and bring in section 21 to get landlords back in charge of their properties. We are not quite there yet but we are about to abandon section 21 which is going to stop letting and flood the market with cheap houses which will provide the opportunity for banks to put up mortgage rates and there we go again. There is one difference now and that is the massive taxation load we all pay connected to the massive cost of old age which has to be supported. I know my supposed baby boomer wealth will drop like a stone as the current property market crashes and at seventy years old there is no way I will be going back to work. Can I add that I have never paid a penny of higher rate of income tax so those changes to property tax relief make no difference to me. I think the people who are going to be hurt are the ones who pushed their luck too far with leverage.

From: laurence meade 16 May 2018 13:27 PM

laurence meade
I have been letting property for thirty years. Always the same properties, so I know them well, but with different letting agents as they come and go. I had one who had no idea how to force an eviction and keep the deposit for me. Several agents did not know how to deal with debtor letters addressed to the household but referring to a departed tenant. (Phone the debt company and explain - job dome in 2-3 minutes) There is one thing that letting agents will not do and that is use a property inspector who really knows how a house works and can look for faults including hidden leaks, dangerous electrics and unacceptable levels of filth. Such people would also know when a boiler/heating system needs service outside of the annual check. Its all very well saying they will send around a "qualified contractor" when a minor observation/fault has turned into a disaster for the tenant and the landlord but as a service it is n.b.u.at all. None of the above inspection checks require a trade qualified person, just someone who looks at things and sees what there is to see. The electrical regulations even have a class of inspector called a competent person which is anybody at all. With plumbing it is easier - if you can see water on the floor then.............. Boilers are more of a problem but if they pass installation inspection then there should be very little that requires professional inspection but the risk is too high to say this is a fact. If you are a personable young person inspecting properties whose limit is changing a light bulb them I am very sorry but I do not like you. You are a risk to me. Another very useful service would be for agents to change safety alarm batteries. Most agents would not even test them although my current agents have started doing so. These safety and inspection routines are now so complex (not difficult!) and legally enshrined that they require someone who can do them.

From: laurence meade 30 April 2018 11:10 AM

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From: laurence meade 09 November 2017 11:50 AM

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From: laurence meade 21 July 2017 10:41 AM

laurence meade
Landlords also need protection from slum tenants. I always clean and refurbish as necessary after a let. Currently I have two properties which have been vacated. One was a six month let. The house is now filthy. No attempt has been made to keep the house ventilated and clear mould from the window frames. We have also been left with rubbish to clear, old car parts in the garage and open bowls of old engine oil. The other has been let for about five years. It is disgusting inside. Mould is everywhere, walls are dirty and the kitchen units are water damaged. The carpets are filthy. The paint work is filthy. I used to live there and it was absolutely fine if you cleaned and let some fresh air in occasionally - just like any other house. Please will someone get it through their (***) heads that a lot of tenants' squalid living is down to themselves. No amount of licensing is going to solve this and ultimately landlords are going to have to resort to short period tenancies with renewal only after inspection - at cost to the tenant. As a landlord it is very tempting to let properties as you find because you know that's how they will come back to you. I am not tempted but it is a close call. Other landlords clearly take the alternative option. Of course there are bad properties and bad landlords and there are already plenty of laws to handle them. It is about time we had some laws to handle obnoxious tenants as well. Tenants need to get together and make sure that they comply with good standards of cleanliness and general house holding. Oh dear, I have been dreaming. I guess the people who want all these laws do that as well.

From: laurence meade 20 July 2017 14:04 PM

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