Lee Bailey

Registered with Property118.com
Monday 1st February 2016

Latest Comments

Total Number of Property118 Comments: 19

Lee Bailey

8:43 AM, 23rd December 2021, About 4 weeks ago

76% of councils report an increase in landlords selling up and warn of increased waiting lists

Reply to the comment left by MarkT at 13/12/2021 - 11:28
Utterly agree, I'm about to sell mine too.

Nomad Capitalist - Go where you are treated best.... Read More

Lee Bailey

19:39 PM, 29th November 2021, About 2 months ago

What do changing EPC and heat pump requirements mean for the PRS?

Reply to the comment left by Dr Rosalind Beck at 10/11/2021 - 08:18
Entirely agree here.

It wouldn't surprise me if a great many sell up. I'm close to selling my portfolio. Let the government house people instead. They seem so intent on making everyone homeless for some reason.

They take 40% of my GROSS rent in tax due to Section 24 of the finance act. I get a measly 15% of my total rent received after Mortgages and fees and that's before maintenance.

I'd could get much more by selling up and putting the equity in an Isa wrapped fund or trust

Well done tories. Brilliant as ever George Giddian Osborne.

Shelter seem to have caused landlords pain too, let them house p... Read More

Lee Bailey

12:38 PM, 12th May 2021, About 8 months ago

Queen's Speech 2021 - Landlord Reactions

Reply to the comment left by Dylan Morris at 11/05/2021 - 21:10
The UK = Communists in disguise.... Read More

Lee Bailey

15:25 PM, 5th May 2021, About 9 months ago

Section 8 must now include details of Breathing Space scheme

So a landlord could in good faith let a property and take one month rent in advance plus 5 weeks bond. Then a tenant could miss all rents thereafter and claim breathing space. After which they could be served 6 months notice. So after 8 months if they still refuse to leave, court papers could be filed. Given that It took me 5 months wait to get a hearing last time, that would be 13 months before a hearing.
Even if successful, it would still be another 2 or 3 months before bailiffs would be forcefully evicting.

So potentially around 15 months to evict via the legal method. At HUGE loss of rent before any legal costs. We landlords are bearing the cost of an underfunded legal system, poor council management, lack of employment. It falls on us.
What does government actually do for the UK? Nothing unless an election looms.

Dont people see that they are also forcing some landlords OUT of using the legal method for fear or financial ruin.

A local landlord told me that Legal Aid cannot be used for housing issues either so they have little to fear from their tenants, should they have to illegally evict them. Scary but some people will do that.

What on earth is happening in the UK.
What idiots keep making such dumb short sighted policies.... Read More

Lee Bailey

21:15 PM, 12th April 2021, About 9 months ago

Let your property to the Council for Emergency Accommodation?

Councils fund Shelter. Enemy number 1.
So I'd stay well away from all councils. They have the combined IQ of a retarded monkey on LSD. Wakefield council specifically.

Bet this gets taken down because LSD was mentioned haha... Read More