I read this post and have to say it is so true. I used to do professional HMOs. I did them to a very high standard. I vented the tenants however some of them would lose their jobs. Even one time, I had an attempted Rape. The below is the reality with BUY TO LET…however there is an alternative. Buy to Let is dying…
Not many people show you the side of property in which is really testing.
We’ve had another house wrecked by a non-paying tenant. This tenant hasn’t paid rent since December!
Essentially this tenant has cost us:
• 3k in rent arrears
• 2.5k in legal and court fees
• 5k to clear and fix the property
No wonder landlords are leaving the sector, especially certain sectors such as LHA/Universal Credit, where it is becoming almost impossible to turn a profit!
I do social housing with Govt backed 7 plus 3 year contracts with no voids, no management and maintenance covered unless structural.
more info 0737 6367032 #property #buytolet #ukproperty #rentals #hongkong
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