NewYorkie

Registered with Property118.com
Tuesday 8th October 2013


Latest Comments

Total Number of Property118 Comments: 236

NewYorkie

12:33 PM, 7th May 2021
About 5 days ago

Government predict 700,000 will use Breathing Space scheme

Reply to the comment left by David at 07/05/2021 - 12:22
Spot-on! If they haven't been paying rent for, say, 13 months, they could easily fake mental health problems for years to come, their debt will build, adding to their apparent mental health issues, to the point where they will never be able to pay it off and they are living for free. If someone else was paying my rent, I would make sure I appeared depressed whenever I went for counselling!... Read More

NewYorkie

12:26 PM, 7th May 2021
About 5 days ago

Data analysis on rental return city by city

Useful only if you are thinking of investing in BTL today, but of course, takes no account of costs and feckless tenants. West London is rock bottom, but I bought in Chiswick in 2003 and 2005, rental yield was 8%, costs were low, voids were non-existent, and I sold out in 2016 and 2019 with 100% and 120% capital appreciation. I bought in Wakefield and Sheffield in 2008 and they are both well up the list. My yield has been no more than 5%, costs are high, voids are high, I've now lost all my profit trying to evict a miscreant tenant who hasn't paid a penny for 13 months, and capital appreciation... zero! I can't wait to exit the PRS!... Read More

NewYorkie

14:39 PM, 5th May 2021
About A week ago

Government predict 700,000 will use Breathing Space scheme

Reply to the comment left by TrevL at 05/05/2021 - 13:16
No, PRS is not to do with privatisation. The 'P' differentiates the private from the social rented sector, which desperately needs the private sector to expand and not contract. All landlords are used to losses under normal circumstances e.g. voids, but not when the government forces the sector to subsidise tenants and keeps moving the goalposts. Instead of gloating at landlords' plight, perhaps you should think on to the unintended consequences of a contracting private rented sector. Fewer properties to rent and higher risk to landlords = greater demand from and reduced choice for tenants = higher rents = yet more debt and mental health problems = yet fewer properties to rent...... Read More

NewYorkie

10:54 AM, 5th May 2021
About A week ago

Government predict 700,000 will use Breathing Space scheme

Mental health issues do not simply disappear after a few months' counselling. Who is covering the cost of this 'Breathing Space'?
Mental health and debt are not unique to tenants. Yes, there are many tenants suffering from debt and mental health problems, but there are also many landlords suffering from debt and mental health problems.
The tenants who have been gaming the system and not paying rent, even though they can afford to, will also exploit this well-intended scheme.
How, then, does a landlord who may already be owed many £000s in rent, recover that debt, plus the accumulated debt during what could be a lengthy breathing space, in addition to the normal rent payable thereafter? What happens when a tenant who may owe £10,000 after a breathing space decides to end their tenancy 3 months later? It will prove impossible to recover that money, just as it is in most cases today.

I have a lot of time for Martin Lewis, but he appears very one-sided in this matter.... Read More

NewYorkie

16:13 PM, 4th May 2021
About A week ago

Section 8 must now include details of Breathing Space scheme

Does this apply to S.8 cases already going through the court process e.g. Review already completed with no tenant participation?... Read More