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Craig WM

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About Craig WM

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  1. Alan Boswell is great and their insurance covers all the basics. You can add rent guarantee insurance and emergency breakdown cover as an extra but depends on you.
  2. Hi. You might get more replies if you explain why you’re asking. I self manage so can’t help but suggest slow payment of rent, mark up on maintenance charges, not looking after tenants, charging low rents, renting to low lifes.
  3. I have a maisonette in Scotland where most properties are freehold. It’s on a buy to let mortgage and never had a problem getting a mortgage. Normally both properties are jointly responsible for foundations and roof. As my maisonette includes an attic conversion, I now have sole responsibility for the roof. Insurance wise, we have the tenements act which means when requested an owner had 14 days to supply a copy of their property insurance. My insurance is due for renewal in 2 weeks and once renewed, I’ll send a copy to my downstairs neighbour and request a copy of theirs.
  4. Whether you or I think it’s reasonable or not doesn’t matter as you signed the contract agreeing to those terms. You said your dad is always dealing with the work but that must be his choice as a letting agent will arrange repairs when they arise. Are you actually aware of all the regs that you must follow to lawfully rent out the property? So I’ve been a bit negative so far but I do self manage. I’m a member of a landlord association and keep up to date with the latest news. No one looks after my properties better than me! If you do leave remember to get a copy of all the latest certificates. You paid for them.
  5. I totally agree with Julia. Ask the tenants if they can provide a guarantor who will pass referencing. If not, move on. They’ve already lost you money on referencing when they had CCJs.
  6. On a similar topic, I made a loss on my first rental this year due to refurb costs. HMRC state I don’t need to fill out a tax return but will I still be able to carry this loss forward to next year if I don’t?
  7. I used SGN in Scotland to connect my gas. Excellent service. Can’t complain. Remember you don’t get a meter from them. Meter box and capped pipe only. I then got Scottish Gas to install my meter for free by taking a contract. I then got my plumber to connect new boiler to meter.
  8. I add it to the mortgage. It’s a tiny bit more leverage and keeps more money in my pocket.
  9. Most buyers won’t know a good boiler from an average one. They’ll appreciate if it’s new but save yourself some money and go for the cheaper one.
  10. Openrent charge £119 plus £10 per bedroom so a bit less. I use them for letting my properties but haven't used this service.
  11. This looks more like portfolio management software rather than landlord software. More finance orientated and less tenant. Looks ok if that's what you're after.
  12. Spread your money around a few different banks and then you'll be covered for quite a few £85,000s. There's actually 20 different institutions covered by the scheme. I know it's a bit of a pain but you could be covered for up to £1.7 million. If you've got more than that, lucky you. Life must be tough
  13. This is comical. So “thanks for paying your premium all these years and not making a claim but now that the going might get a bit tough we’re not interested”. I’d be furious. The mortgage holiday and your tenants getting 80% of their income paid will hopefully be enough to keep the rent coming in. If not work with your tenants to find a solution but check they’re not lying about their circumstances.
  14. Hi and welcome to another Scottish forum member! Great that you've taken the first step into property. I'd be interested to know the details and figures for your Edinburgh property, as most people felt that Edinburgh was saturated and that it would give poor returns. I live and invest in Kirkcaldy and I know deals are hard to find even here. Craig.
  15. Hi and welcome. Property is a very large subject to study which is why most people do a bit of general reading or listening to allow them to work out what property subject appeals most to them. I'm a Scottish, self managing landlord and have learnt everything I need from books and podcasts. I know there are Scottish based landlord or letting agent courses but maybe you'd be more interested in property sourcing.