Michael Bond

Registered with Property118.com
Saturday 10th January 2015

Latest Comments

Total Number of Property118 Comments: 42

Michael Bond

16:21 PM, 11th December 2019
About 16 hours ago

Yields - Long term let vs holiday let?

Do not do anything until you know the Election result! The new government's policy on the Private Rental Sector must be a consideration.
I have both holiday cottages (Furnished Holiday Lets - FHLs) and permanent tenants in my portfolio. I am beginning seriously to consider getting rid of all my tenants as and when I can and going over to FHLs.
You should use an agent. Fees about 20% of takings, but worth it if they are good. They will get you bookings and sort out cleaners etc for you and take the calls at 11.30pm on Friday to say that the boiler has stopped working. Have a look at your market. Will people in your area want 5-star cottages and pay 5-star prices? Not necessarily the same thing. But nowadays people expect clean well equipped "shiny" cottages with TV and wi-fi, dishwashers, microwaves ,unchipped crockery that matches, etc. Repairs are likely to be much the same whichever you choose: but you will need to make sure your towels, sheets etc are in good order (in our house we mainly use towels passed down from the cottages). Remember that you need to qualify as a quasi-business which essentially means your cottage must be available to let for 210 days a year and actually let for 105 days. Then you can get tax relief on interest on any mortgage you may need. ( "Cottage" seems to be a sort of generic word for any FHL from 1-bed apartment to an 8-bed mansion)
The alternative is to let "permanently", which increasingly means exactly what it says as Shelter spokespersons get the ears of politicians.... Read More

Michael Bond

13:11 PM, 14th October 2019
About 2 months ago

Shelter warn of older people 'stuck in expensive PRS'

I wonder whether Gail Hickman exists and whether her story is true. If so she seems to have fallen foul of a "rogue"/criminal landlord and I sympathise. There are proportionally fewer of them than we must assume there are lying executives of Shelter. Wouldn't it be good if Shelter used even 10% of its reported annual turnover of £60,000,000 to build affordable properties to shelter those in Gail Hickman's position?... Read More

Michael Bond

18:57 PM, 13th October 2019
About 2 months ago

Courts failing to follow housing case rules

Not least of the problems is that many some District Judges do not know housing law as they never practised it when working as solicitors/barristers, so some of their judgements are crazy.... Read More

Michael Bond

18:52 PM, 13th October 2019
About 2 months ago

Bristol City Council - The lights are on but no one's home!

As has already been said many of these things are what we have to do anyway.
Surely the requirements about tenants' references and passing them to the council are contrary to Data Protection laws?
Most councils have an Anti-Social Behaviour department. They are the experts in the subject .Surely the first thing to do is to call them in to sort out any problem?
Liverpool CC impose similar conditions. They don't seem to take any notice of them, so nor do most other people.... Read More

Michael Bond

9:50 AM, 29th August 2019
About 3 months ago

Salford council launch social letting agency

Looks good and it is encouraging to see a local authority which is prepared to try to think of original ways of dealing with the housing shortage-- and as a former soldier I like the reference to ex-servicemen. But this is a local authority you would be dealing with. Do they know what they know a enough about the rental market to get it right? Can you be sure that whatever the Council policy may be you will not find yourself dealing with someone who is a Corbyn supporter and is out to sabotage the scheme and do you down? etc? The only way I would consider such a scheme would be to hand a property to the Council for an agreed rent for an agreed period on the basis that they hand it back to me in the same condition at the end of the period.... Read More