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julia urquhart

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  1. I have properties close to where I live and some further away. I use agents for all of them, but get a little more involved with the closer ones. I find it useful that the tenants deal with the agents on a day to day basis, but that I can pop into do little jobs if required, saving me a tradesman's call out fee. It also means I can go away knowing there is someone to deal with any problems that crop up & I won't get a phone call at 2am in the morning when there is a leak!
  2. I am Pro Landlord choice! I have had plenty of damage from pets that were not even permitted! I like to see if a tenant is reliable and long term before allowing them to have a pet which may cause more damage than the deposit! I am very anti MPs telling me I have to take pets! Probably all a storm in a teacup - how many tenants will get the certificate from the vet and I could refuse the prospective tenant covered in dog hair because I don't like their shirt!
  3. I have been looking at a few properties recently even though the market has been really hot lately. I have discovered that those properties in 'move-in condition' are in high demand for owner-occupiers, but those that need some work are less popular. I think that a lot of investors are sitting on their cash right now, waiting for the market to cool and hoping for a bargain next year. This has meant less competition for these properties. As the news is now reporting, getting a sale through before the SDLT holiday is not guaranteed, and with Christmas looming, I think the market in my area is beginning to cool. I have just had an offer accepted on a property that needs some work and I think the vendor just wants to get rid of it this side of Christmas. Because it is a good property I was prepared to take the risk of a downturn next year - I am planning to hold for the long term so its not really relevant, and I think if there is a downturn there may be less available next year so buying now seemed a good move. I also find that looking at suitable properties on Rightmove sorting by 'oldest listed' shows you who might be willing to take a cheeky offer.
  4. I think the stigma of being an ex Council house has pretty much gone now. So many have been sold to owner-occupiers that any assumptions about the type of neighbours would be flawed. Most people now accept that many Council houses were well built and spacious compared to newer properties. As far as capital growth is concerned that may simply depend on the area. Do you know Nottingham at all? There are definitely some unsavoury areas where I would not buy! And beware of selective licensing - £800 and we are half way through the 5 year period Good luck
  5. There is scope - especially as now with Christmas and the end of the SDLT holiday are looming. There are some properties where the owner wants to get rid of it and if buyers are few are far between, may take an offer. No-one knows what will happen next year, so it might be a gamble, but as long as you stick to your figures and don't go with heart-over-head it should be possible. If the market does drop, you could always just wait until it picks up again before refinancing. It really all depends on the market were you are. Good luck
  6. If you believe it is a good price then go for it. I have just had an offer accepted on a property - I negotiated a discount on the fact that as we get closer to Christmas and the end of the SDLT holiday this little bubble will burst and buyers will disappear. Whether or not there is a dip next year is less important if you plan to hold for a long time as long as you don't overpay massively now. Whilst there may be a dip, you may not find a property that you want, so my advice is if you think it is a good deal and the numbers stack up, go for it! Good luck
  7. It is a big hit on your bottom line. Remember, insurance is a profit making business, so they must take in more than the pay out or they would go bust. Personally, I rely on proper credit checks and referencing. Good luck
  8. Always houses - always freehold. I will not buy a property that can receive a charge over which I have no control. Plus ground rent & maintenance charge just come straight off my bottom line - no thanks!
  9. I think that in order to make a profit as a LL in the current environment it is important to recognise what you can & can't do. Clearly most of us are not 'gas safe' so must pay for boiler service etc. Most of us can paint our properties and do minor repairs - so that saves us money. With HMRC online portal & software such as TaxCalc, tax returns are not as onerous as they used to be, for most people so this is definitely an area where a can-do attitude can reap rewards. If you find it too difficult, you can alway go to an accountant but if you can do it you will save yourself plenty of ££ over the years. Good luck
  10. Its not just the solicitor - it's local searches - which by all accounts are taking longer than usual to get done due to the volume and reduced staff. I'd be surprised if you could get it done before Christmas - sorry, just being realistic. Good luck
  11. If you are just starting up and only have 1 or 2 houses, £50pcm is quite a big chunk from your income. Your money - your choice though
  12. They should have asked at the beginning - so no! They have a lovely new bathroom at no increase in rent.