Ian Simpson

Registered with Property118.com
Saturday 10th August 2013

Latest Comments

Total Number of Property118 Comments: 152

Ian Simpson

7:35 AM, 12th March 2022, About 2 months ago

Cost of Living Crisis - What do we do as landlords?

Reply to the comment left by Mike at 11/03/2022 - 00:41
I feel your pain Mike, and have decided to act. I had seven HMOs but am currently ecstatic that I have now sold three and have offers accepted on a further three. Time to move on to "armchair investing" as George Osborne called Buy-to-Lets in 2015 ( LOL!) It is all going to go into managed Investment funds, VCTs or Whisky Barrels (which can yield 11-15%...!!) they also never burn the house down, complain of mould, or call you at 07h00 to change a lightbulb, fill a bath with vomit, or need eviction costing £15,000 and taking twenty months... (A potted history of my tenants!!). With yields like that, why on earth are we in property at all I ask myself...??

Sadly at least four of the HMOs ( Currently housing around 30) will be changed back to family homes and sold on by the new owners, so where there were 30 homes, now there will be 4. Well done Mr Gove and current housing policy!!... Read More

Ian Simpson

7:14 AM, 12th February 2022, About 3 months ago

HMO tenant vanished?

I would send a formal s21 (and s8G8 if no rent) notice to his last known phone number, and last known address and also leave a copy in the room for another month.(Take a date-stamped photo of the notice lying there in the room) Then bag up his possessions, put them in storage somewhere ( eg Big Yellow etc.) , change the locks, wait another month ands then re-let the room.,

I have had 10-20 just disappear over the years, we usually give it about two months (which is the notice period on (the soon to be defunct) s21. The chances of people like this coming back to sue for wrongful eviction are slim to none.... Read More

Ian Simpson

10:01 AM, 8th January 2022, About 5 months ago

Possession claims could double this year

We finally managed to get rid of a non-paying tenant after twenty months, using your company. We then paid the extra amounts for debt recovery and have heard nothing back. The ex tenants are now living across the road, probably parasitising the council. Does Landlord Action’s debt recovery team actually do ANY investigative work at all? Or simply collect the fees…?... Read More

Ian Simpson

8:17 AM, 30th October 2021, About 7 months ago

CGT reporting extended to 60 days

Dear Brian

I feel for you, inasmuch as every time I try and do something like this it is unspeakably complicated and time consuming. The govt is clearly not there to help, but to hinder, delay and exasperate. I (hopefully) will be selling some of my portfolio in the next year or so, so have all this to come. I have to say though, that most "buyers" are simply chancers, and time-wasters, offering way below value in the hope of a distressed sale. We will get there eventuially , when the real buyers appear...!!
Good luck with it!... Read More

Ian Simpson

7:27 AM, 11th September 2021, About 9 months ago

Tenant demand accelerating and outstripping falling landlord supply

SAdly, we are not seeing this demand. The only tenants we can find in North Hampshire are all dope-smoking ~~~~ who stop paying rent after a couple of months, and we have had to REDUCE rents by 20% or more, just to fill rooms. I think a lot of our tenants were EAstern European and have now all gone home as a result of Brexit. I am trying to sell,m but just get a long series of time-wasters who have no intention of buying at a sensible value, and are just looking for a distressed sale.... will have to hold on... 'tis like a prison sentence...!!... Read More