Dancinglandlord

Registered with Property118.com
Wednesday 16th May 2018

Trading Status
Partnership

Providing essential rental accommodation since
1994

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 32

Dancinglandlord

21:46 PM, 13th July 2020
About a month ago

HMO mortgages out of favour?

Sounds like a bad option to me, unless you've incorporated, the tax you'll pay on the extra interest rates = reduced but still taxable profit will make it unviable compared to selling. And incorporation is unviable if you need to draw your income.
A few of us will face these challenges as our mortgages come full term. We lived in lucky times for a decade or so, worked hard, improved standards in the rental sector and then things started to get tighter - and tighter. Our pensions are invested in our buying decisions, our development decisions and our hard work. We do actually deserve to reap the benefits of the better conditions and service that tenants now have. And for lifetimes of keeping up with legislation, bureaucracy and re-investment, we should have earned the gain in our investments. The business case for pulling out of the industry as good mortgage terms end, eco investment is being laid at our door, interest rates are low and yet we continue to be highly taxed and cannot borrow at market rates, is compelling. The forces on the market have not repealed the bizarre taxation on mortgage interest, nor CGT. The pandemic is another force squeezing possible yields and growth. We can hope that the tide will turn, that mortgagors will hold on to their investments at reasonable interest rates to keep their books going and keep properties available to let. Who knows where the power now lies. I'm tempted to sell enough to pay off my loans and not be dependent on the banking sector. I can never be free of the fiscal state however.... Read More

Dancinglandlord

22:10 PM, 10th July 2020
About a month ago

HMO mortgages out of favour?

Reply to the comment left by Smartermind at 10/07/2020 - 11:58
Ii've heard that your credit rating will be hit if you apply for a bounce back loan. Beware... Read More

Dancinglandlord

16:52 PM, 1st July 2020
About a month ago

Dancinglandlord

7:46 AM, 12th June 2020
About 2 months ago

Emergency Eviction??

I have had a similar problem and my experience is that you need to start eviction procedures so that he can be rehoused by people who specialise in people with problems - they will often not intervene until the person in question is faced with being on the street. Normal eviction procedures apply, but speaking to the council and the relevant charities that do this work earlier will help your case. It's a godforsaken job to keep people in this state cared for, but the alternatives are more homeless people in a worse state. As landlords we are not in a position to do this job, but we can't honestly say that we want more homeless people. I think the best we can do is to lobby for a specialised fast track 'eviction-into-safe-housing' procedure for tenants who turn out to have serious addictions or mental health issues. Let's try and be part of the solution?... Read More

Dancinglandlord

12:56 PM, 31st March 2020
About 4 months ago

Put ourselves in the shoes of these kids?

Reply to the comment left by Yvonne Francis at 31/03/2020 - 11:29
The lockdown is almost certain to last 3 months and if things are still difficult re the predicted spread of Coronavirus maybe longer. We may be facing 6 months in total but no-one really knows. Assuming 6 months, this still allows for students to go back for teaching in October, so I personally think that an institution deciding to teach online from then on has jumped the gun. Of all the restrictions the government could lift, restarting schools and Universities would be some of the most likely. It's a lower risk group and has theoretically has a lower impact on virus spread than other measures, such as testing, from what I've read. Assuming testing does come online within 6 months and that seems a realistic assumption given the pressure to do so, then I think it is reasonable that we will see students back to college in October if not September. That however does leave a summer when tenants could be prevented from moving into their new rentals and those 3 months for me appear to be the most worrying. Students DON'T get paid by the government for this period and in some areas of the country landlords spread the cost of the property over the academic period rather than 52 weeks - is this the case in Nottingham? Here in Leeds most operate an even charging basis over the whole year and I can foresee a lot of problems getting rent over this period - even though there are contracts in place already from July. I'd have a lot harder time justifying charging rent in this situation, despite the losses I would incur. Has anyone got a cunning solution to this problem apart from keeping our fingers crossed that the lockdown is lifted before July?!... Read More