I just sold my last rental property, started selling up as soon as they started talking about this nonsense. So all my 7 properties are now in private hands and off the rental market. This is going to be an absolute disaster for rental market, the rents are going up but so are the risks and if you get someone in who knows how to game the system that can be all your profit gone for a year and huge headaches and expense going through the courts. I personally didn't like kids in some of my properties because they have very high end interiors and decoration and kids will destroy that in 5 minutes, I have been there, cost me a fortune to sort out. Sure rents are going up but that is just increasing the numbers of tenants in arrears as everyone is struggling just to get by already. Now planning my exit from the UK, the country has become a total sh1t show.
@@harveygrowthproperties No capital gains tax so longterm investments benefit from very little taxation with short term being treated as income. Fact is for retirement it's a pretty good place to be.
I have worked on houses for an estate agent doing repairs on rentals. Some of the tenants think it’s everyone but their job to look after the property. We had some who had mould in the bathroom, we fixed it told them to keep it vented, got called back for months later. I asked if they had kept it vented and they said no because they like it hot in the bathroom like a steam room. Another was washing and drying an entire football teams kit in his unventilated house and wondered why he got mould. Another was subletting the garage as another bedroom. They would often be very honest with me as I was just the workman not the landlord or estate agent and a lot had the attitude of “it’s not mine so why should I care” then claim health issues , threatening court etc when there own laziness made the conditions unhealthy or unhygienic.
Moved back into each of my properties and project managed lipstick renovations for a year then sold out. Four more to go and I am out baby.... heading back to my overseas idyll and managing paper investments.
Have 15 years of the S&P 500 Magic 7 plus dividend income and ETFs and a mixed bag of diversification from Index funds with hedge in precious metals and a number of global properties.
Bidding wars a massive thing in my area up in the North East, and estate agents, etc. don't shy away from counter offers. I've also been on the other side where I've offered more pcm and recieved the property as a result.
I have already sold my rental property , just not worth the stress, took me 6 months to evict tenant who did stopped paying rent!!!!! Took me ages to get court date, Just sticking with stocks/shares so much simpler!
@@harveygrowthproperties Personally I think there has been a relatively good balance between State and private landlordship, but I wonder if the current government is about to cross that fine line and become unreasonable.
Ah go ya… I think the state have been poking the private renting sector for some time. But yeah, wouldn’t be surprised if government turned up poke into a stab
The section 21 ban will in part worsen the housing crisis by forcing landlords to only accept the highest paid, most squeaky clean tenants. Previous to this we have had a culture of trust to some extent- providing people meet and surpass a threshold, we are willing to give them the benefit of the doubt and let them get themselves a home and move on with their lives. Now that will be shattered; and those with the more privilege (better educated/connected> better jobs) and wealth will dominate the sector. It also raises issues in multi let hmos- what if one tenant is just not a nice person- a sex pest, or unhygienic, or too noisy for example? Unless these things are done to the extreme and reported on, there won't be section 8 facility to get rid of them, while the other 4 or 5 people have to suffer
why would that do that? they dont pay less rent, the full rent is still due, if they deliberately do this they just get a s21 so why would they deliberately turn their living space into a biohazard?
I have been evicted three times under no fault section 21 It completely disrupted my life as well as my child The last time was just before the lockdown, and because I was self employed and file my own tax returns I was unable to rent via an estate agent and facing homelessness. I was only able to find a single room apartment via one of my previous clients I lost my business during the lockdown and I have been unable to find permanent work since, and still stuck in a tiny apartment, all because the landlord wanted to cash-in on selling the property despite my rent helping to pay his mortgage
Off course that has and does happened but now where near as much as it’s made out to be. I started a letting agency about 8 years ago and have dealt with lots of landlords and in 8 years I never had one landlord serve notice for the reasons your stating. Every time it was because tenant arrears mate and just quicker to do section 21 then take it through courts as these tenants know how to play the system and prolong it.
@@harveygrowthproperties if theyre in arrears, where are they going to go? how are they going to find another rental? if theyre in arrears might as well ride it all the way through to a section 8. the idea that someone who hasn't paid rent for 2 months, gets a s21 and proptly leaves is the biggest crock of shit i have ever heard. s21 doesnt work on sociopaths, it only works on law abiding people who have a lot to lose.
I just sold my last rental property, started selling up as soon as they started talking about this nonsense. So all my 7 properties are now in private hands and off the rental market. This is going to be an absolute disaster for rental market, the rents are going up but so are the risks and if you get someone in who knows how to game the system that can be all your profit gone for a year and huge headaches and expense going through the courts. I personally didn't like kids in some of my properties because they have very high end interiors and decoration and kids will destroy that in 5 minutes, I have been there, cost me a fortune to sort out. Sure rents are going up but that is just increasing the numbers of tenants in arrears as everyone is struggling just to get by already. Now planning my exit from the UK, the country has become a total sh1t show.
Where are you planning on moving to?
@@harveygrowthproperties New Zealand, have family there already and it's safer with a far better quality of life than the UK.
Wow that a fair old wack away but why not.. I’ve heard a lot of nice things about it. What’s the tax like over there?
@@harveygrowthproperties No capital gains tax so longterm investments benefit from very little taxation with short term being treated as income. Fact is for retirement it's a pretty good place to be.
I have worked on houses for an estate agent doing repairs on rentals. Some of the tenants think it’s everyone but their job to look after the property. We had some who had mould in the bathroom, we fixed it told them to keep it vented, got called back for months later. I asked if they had kept it vented and they said no because they like it hot in the bathroom like a steam room. Another was washing and drying an entire football teams kit in his unventilated house and wondered why he got mould.
Another was subletting the garage as another bedroom.
They would often be very honest with me as I was just the workman not the landlord or estate agent and a lot had the attitude of “it’s not mine so why should I care” then claim health issues , threatening court etc when there own laziness made the conditions unhealthy or unhygienic.
Yeah happens all the time mate… thanks for sharing
Can you recommend who to use for Guaranteed Rent?
Moved back into each of my properties and project managed lipstick renovations for a year then sold out. Four more to go and I am out baby.... heading back to my overseas idyll and managing paper investments.
You had enough them mate? What paper investments are you looking at instead?
Have 15 years of the S&P 500 Magic 7 plus dividend income and ETFs and a mixed bag of diversification from Index funds with hedge in precious metals and a number of global properties.
Way to go - I'm not far behind you.
Bidding wars a massive thing in my area up in the North East, and estate agents, etc. don't shy away from counter offers. I've also been on the other side where I've offered more pcm and recieved the property as a result.
Interesting… what part of northeast are you mate?
I invest in teeside and not really seen the bidding wars
I have already sold my rental property , just not worth the stress, took me 6 months to evict tenant who did stopped paying rent!!!!! Took me ages to get court date, Just sticking with stocks/shares so much simpler!
Fair enough…
The lines between private and social housing getting a little blurred if you ask me.
House do you mean mate?
@@harveygrowthproperties Personally I think there has been a relatively good balance between State and private landlordship, but I wonder if the current government is about to cross that fine line and become unreasonable.
Ah go ya… I think the state have been poking the private renting sector for some time. But yeah, wouldn’t be surprised if government turned up poke into a stab
@@phYT01 Both Zoopla and Rightmove are full of 'Sorry No DSS' rentals, though?
@@phYT01 So 'changes already introduced' do not 'stop landlords discriminating against benefits claimants' really at all
The section 21 ban will in part worsen the housing crisis by forcing landlords to only accept the highest paid, most squeaky clean tenants. Previous to this we have had a culture of trust to some extent- providing people meet and surpass a threshold, we are willing to give them the benefit of the doubt and let them get themselves a home and move on with their lives. Now that will be shattered; and those with the more privilege (better educated/connected> better jobs) and wealth will dominate the sector. It also raises issues in multi let hmos- what if one tenant is just not a nice person- a sex pest, or unhygienic, or too noisy for example? Unless these things are done to the extreme and reported on, there won't be section 8 facility to get rid of them, while the other 4 or 5 people have to suffer
Agreed… I do not think this will benefit tenants
Tenants turn the fans and piv off and complain about mould
In my experience most don’t but yes agree the odd one’s do and it’s a pain
why would that do that? they dont pay less rent, the full rent is still due, if they deliberately do this they just get a s21 so why would they deliberately turn their living space into a biohazard?
@@simonbutler377 some people think it’ll save them money on electric and don’t think
I’ve seen people say the biggest concern is that the tenant can give 2 months notice at any point but landlord is a year? Is this correct
They cannot stop their incessant meddling.
Whatever they do, it is against the Landlord.
Always rent to university students as long as a bus to university or train
Short term contract s 9 months student s then 3 months summer lets
I have been evicted three times under no fault section 21
It completely disrupted my life as well as my child
The last time was just before the lockdown, and because I was self employed and file my own tax returns I was unable to rent via an estate agent and facing homelessness. I was only able to find a single room apartment via one of my previous clients
I lost my business during the lockdown and I have been unable to find permanent work since, and still stuck in a tiny apartment, all because the landlord wanted to cash-in on selling the property despite my rent helping to pay his mortgage
Nothing too scary in there TBH.
boo hoo you cant kick people out of the property for complaining about mould and heating issues any more.
Off course that has and does happened but now where near as much as it’s made out to be. I started a letting agency about 8 years ago and have dealt with lots of landlords and in 8 years I never had one landlord serve notice for the reasons your stating. Every time it was because tenant arrears mate and just quicker to do section 21 then take it through courts as these tenants know how to play the system and prolong it.
@@harveygrowthproperties if theyre in arrears, where are they going to go? how are they going to find another rental? if theyre in arrears might as well ride it all the way through to a section 8.
the idea that someone who hasn't paid rent for 2 months, gets a s21 and proptly leaves is the biggest crock of shit i have ever heard.
s21 doesnt work on sociopaths, it only works on law abiding people who have a lot to lose.
Ok mate thanks for sharing
Something should be done about sanctuary housing association. They are corrupt af!