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About MWebster

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  1. My thoughts are that it sounds like it was the tenants choice to vacate for a week. It also sounds like you may have a written record of your dialogue with the tenant which is great, as this allows you to demonstrate you kept the tenant in the loop. I would suggest stating that you will discuss any payment at the end of the tenancy when the Deposit is being sorted out. This way you buy some time and defer the issue to the end of the tenancy. Then if the weeks rent is disputed when you agree what % of the deposit your keeping and what your paying back to the tenant, let it go to arbitration and then present your evidence (the emails you wrote, text messages, etc) and let the Deposit Protection Service sort it out. Worth saying this is just how I would try and handle it, never had the issue you describe personally. Good luck and let me know how you get on.
  2. Anyone else starting to see more and more on the subject of the FIRE movement: Financial Independence Retire Early? Mixed thoughts on this personally, as I think you need to balance living your life vs. sorting yourself out financially for when you retire. Interested to find out what other Hubbers make if this? FIRE can be described as: [Credit Wikipedia] The FIRE (Financial Independence, Retire Early) movement is a lifestyle movement with the goal of gaining financial independence and retiring early. The model became particularly popular among millennials in the 2010s, gaining traction through online communities via information shared in blogs, podcasts, and online discussion forums.[1][2][3][4][5] Those seeking to attain FIRE intentionally maximize their savings rate by finding ways to increase income and or decrease expenses. The objective is to accumulate assets until the resulting passive income provides enough money for living expenses throughout one's retirement years. Many proponents of the FIRE movement suggest the 4% rule as a rough withdrawal guideline, thus setting a goal of at least 25 times one's estimated annual living expenses. Upon reaching financial independence, paid work becomes optional, allowing for retirement from traditional work decades earlier than the standard retirement age.
  3. Hi Ben, you are on my list of contractors and you actually did a 5 year electrical inspection / certificate fairly recently for me, so thanks for that. It’s good to know local investors, so if you ever fancy ‘chewing the fat’ and talking over future plans with another Derby based investor let me know. Cheers
  4. So, looking highly likely, that I will not achieve my 2020 goal which was simply to add 1 further property to my portfolio as part of my 10 year plan. Not for want of trying mind!!! COVID has made and continues to make things a lot more challenging and now as many other Hubbers have reported, since restrictions have eased, the market has gone crazy with people paying over the odds for many properties that are on the market. Like others, I am now holding my cash in the hope of a dip in the second or third quarter of next year, so looks like a will fail to meet my 2020 goal. Frustrating to be honest!!!
  5. I also have a similar situation, although not so much of a big gap with rent being £490 and £525 being the recommended amount for the property by a local letting agent. I often wonder if I am doing the right thing, but I have decided to leave the rent alone in favour of a tenant who always pays the rent on time and looks after the property. That said, I do not currently have the dilemma of stress test to think about which may result in me changing my mind! Hope you reach a decision soon and the outcome works for you. Cheers Matt
  6. Hi Ben, do you also have rental houses in the Derby area?
  7. Not in my opinion no. In fact from my experience and others, this is normally the time agents let you down the most and tell you it’s something you have to sort out yourself. If you lose or have lost rent try contacting business-loss-prevention.co.uk
  8. My understanding is that it is for multiple purchases. Contact HMRC as I think this will be a mistake on their part.
  9. Hi - good point on the inventory and yes I would want a copy. References - probably not much point to my mind as the tenants have already moved in and have a signed AST.
  10. Hi - never actually done this myself but I am about too! Here is what i will be asking for... copy of current tenancy agreement proof that deposit has been correctly lodged proof that tenant in not in arrears checking the contract to make sure there are no dodgy clauses in there that might affect me has the new landlord checking if any sort of guarantor is being used at present checking what rent is being charged against what should be being charged. If current rent very low and you want to increase the rent to market value....possible you might have tenant issues straight away Hope this helps and best of luck.
  11. Have you paid the CCJ? If so, it should be shown as ‘satisfied’ on yours and the courts record. If not - pay it. CCJ will be on your credit file for 6 years after you have paid it. You say it’s 5 years ago, so another 12 months and all should be well again. in the meantime, speak to your mortgage advisor as to what might be the best way to proceed. Good luck.
  12. Quickest way to get a correct answer is to ask your local building control team.