Mike T

Registered with Property118.com
Saturday 13th July 2013

Trading Status
Sole Owner

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 109

Mike T

20:11 PM, 13th January 2020
About 2 weeks ago

Letting agents pass key without deposit, advanced rent and signed contract

Reply to the comment left by Paul Shears at 13/01/2020 - 11:35
Hi Paul, just a little point on the monthly profit. The first month was low because of the set-up fee of £400. It seems the regular amount would be 750 less 59 giving a profit (before any other exs, like mortgage etc) of 691 which is a lot more acceptable... Read More

Mike T

10:32 AM, 1st January 2020
About 3 weeks ago

Universal Credit and possible tenancy questions?

Which ever way you look at it it's a minefield of problems for any Landlord to take on. A very sorry state for the unfortunate 'possible tenant' who clearly needs help. From the figures quoted the system goes some way to help. What a potential LL has to ask him/her self is 'am I prepared to take the real risk of a large financial loss along with all the headaches ? ' As mentioned several times on this forum, We are not a charity ! This sort of dilemma is what Shelter could be stepping in and helping with ....?... Read More

Mike T

14:47 PM, 26th November 2019
About 2 months ago

£100,000 for a bad property MOT!

The whole system in GB has turned to utter cr@p. All the reasons as given by above comments force me to take this view of things. When I saw the writing on the wall I stated selling one property a year. Just got two more to go then I'm out of it completely. I've had problems with the 'system' i.e court administration, Judges who have never heard of the wisdom of Solomon & don't live in the real world, Court Bailiffs following up on a non-paying CCJ debtor, with an attachment of earnings order in place, taking over 18 months to serve a notice as she changed jobs and need to provide a fresh declaration of earnings etc.. Crikey !, I could go on but it gets boring. I can accept that a lot of stuff 'goes with the territory' and I have the view that being a LL is not a 'money for nothing' situation. Most of what we do we are getting paid for, earning it in fact. At the end of the day to any of my Ex tenants who are now in smaller LHA accommodation who feel that they got one over on me I would say this ' Thank you, you have helped me over the years your rent has paid for my house in sunny climates, paid for my mortgages & topped up on the meagre uk state pension that I get'.
Moreover, I have been able to draw a line under all that cr@p, move on and enjoy life. Would I go back to living in GB ? Last resort, very much last resort ! For the time being I am a non - resident LL.... Read More

Mike T

13:36 PM, 31st October 2019
About 3 months ago

RICS fine Countrywide £100,000 over client money security

“Some would have been rightly Countrywide funds and others small amounts of landlord and tenant sums that could not be traced.'' ?? Aah so 'some' would have been theirs but only 'small' amounts belonged to landlord and tenants ?? Really. but either way they could not identify them ? ... strange way to run a business loosing track of £10,000,000. Who on earth would have confidence dealing with a company like them ?... Read More

Mike T

10:32 AM, 30th September 2019
About 4 months ago

Newly separated mother with children?

Hi Pam, we have experienced marriage/partnership break-ups of tenants . Some had been with us for a few years and had a good record with us. But all things change when the tenants circumstances change. They can become desperate and understandably have to protect themselves and their family. The landlord is often their last concern. I'm sure many 118 members have had similar situations. However, Pam, you would be going into this forewarned, yet unsure of what the future might hold for you and your tenant. NOT a good idea, I remember 118 members advice that 'we are not a charity'. Exercise caution, get RGI (doubtful in this instance) 6 months rent in advance ?? Seek advice on that in the light of maximum deposit restrictions. Wait for another, better prospective tenant . Good luck with whatever course you take... Read More