Ken Smith

Registered with
Sunday 21st January 2018

Latest Comments

Total Number of Property118 Comments: 59

Ken Smith

11:22 AM, 2nd April 2020, About 2 years ago

No Rent For Buy To Let Landlords

As an ex-landlord, but looking after my brother's BTL whilst he's abroad, I can't help but pick up on the sheer panic that permeates these pages now.

Now is not the time to behave like headless chickens. It's the time for a calculated thought-out approach. Most people will be in a position to pay. The decent ones will know this and will muddle through at worst.

It seems that bad tenants without guarantors cause the most problems. No surprises there.

The message for the future (if there will be one for everyone still in this game) is to plan well regarding tenant recruitment and always have a home owning guarantor in place. Also, why not take control of YOUR business?

Letting agents will, 90% of the time, dissuade you from insisting they get you a tenant with a guarnator.

Ask yourself why they would do this? The answer is simply that its harder for them to get a tenant if you have this requirement in place. they are only interested in signing anyone up.

However, they still want their fee is a rent payment is missed. Funny eh?

In my experience, most poor landlords (babes-in-the-woods types) only weaken themselves more by trusting letting agents to run their businesses for them. This is a serious business and should not be trusted to letting agents - with Dopey Darren and Gormless Gemma 'working' for you. If you are depending on these people to do your bidding just now - then I pity you. Why do you think agents never like landlords and tenants to communicate directly? It's the 'divide and rule' mantra!

Letting agents are a disperate, unprofessional bunch of money-grabbing chancers in general. Yes, the odd good ones - they are the exception that prove the rule.

Ignore that fact at your peril.... Read More

Ken Smith

11:07 AM, 2nd April 2020, About 2 years ago

NRLA merger completes and Chair is announced

I see these clowns are still gorging from the trough - and apparently are still as useful as a chocolate teapot.

So, on top of having a tory govt behaving like a socialist one and shafting LLs - you have these stuffed suits spouting platitudes and seemingly applauding what the government have done? for landlords.
Couldnt make it up.... Read More

Ken Smith

10:50 AM, 2nd April 2020, About 2 years ago

Shelter again with latest TV advert!

Reply to the comment left by Monty Bodkin at 01/04/2020 - 20:31Hi Monty,
I wonder if you recall us 'jousting' on here a couple of years ago when I sold up a large amount of (all) properties. I decided to cash my chips and walk away from a roulette table that was set-up to crucify landlords.
You considered me crazy and refuted all my warnings - to the point of insulting me.
Fast forward 2 years - even I couldnt have foreseen this scenario. Landlords thrown under the bus one more time. It appears you are still at the roulette table?
I'm still involved to a small extent as I agreed to keep an eye (manage) my brothers BTL nearby. Fortunately, he has 2 NHS doctors in it - and a solid guarantor too. So it couldnt be better for him actually.
I do recall a thread here in 2018 where I stated how essential guarantors had been in my model. I'm staggered how many landlords still dont insist on one. Letting agents will always talk landlords out of guarantors. Could this be because it's harder for them to find tenants if a guarantor is a pre-requisite? Then again, that would suggest that letting agents wouldnt be acting in their clients best interests. I mean, as if that would ever happen?
I still pop on here from time to time - just to reassure myself I did the best thing ever 2 years ago. I never leave here without realising that I didnt just dodge a bullet - I dodge a barrage of bombs.

The other odd thing is that, regarding landlords on cheap interest deals, what has happened to all your massive profits over the years since the 'crunch'. It appears here as if many just 'live for the day' with monthly rental income - and have a fingers crossed policy. Surely anyone can see that this is not very wise when you have the establishment hunting you down anyway?

I'm just wondering Monty if you now feel I still made a big mistake in exiting this crazy industry?

It's never to late to start the process of cashing-in your chips.... Read More

Ken Smith

9:22 AM, 4th July 2018, About 3 years ago

Downsizing into our Buy to Let?

At least you have learned that your accountant is not worth retaining. Show him this thread - then fire him and get a property-friendly one. It would also be a bonus to get one who respects their customers too. Clearly this excuse for one doesn't.
Sounds like he is merely a bean counter/administrator type. Pay a bit more and get one who can work towards your wealth.... Read More

Ken Smith

10:02 AM, 4th April 2018, About 4 years ago

When should you tell a prospective tenant you live very close?

Just tell them during first contact. They will soon realise it anyway and then maybe think you strange for not mentioning it. You might then, if they bring a pet in, have major problems to deal with. It will definitely sort the wheat from the chaff if they are aware you will be living so close to them.... Read More