BTLs face a difficult year in 2010

macaque_2

Landlord Assist says with unemployment numbers showing no signs of abating, rental arrears will continue to be the main problem facing landlords.

This situation will also be fuelled by the uncertainty over interest rates, which will impact loan repayments and other financial commitments.

http://www.residentiallandlord.co.uk/news2045.html

Macaque's advice for troubled landlords:

Reduce the rent. Lower rents make for happy tenants and reduced chance of arrears.

Or.....

Sell the property to your tenant at a knock down price. The tenant will kiss you and you can forget about rent arrears, local authority inspections, gas inspection certificates, building repairs, negative equity, capital loss, interest rates, boundary disputes etc etc.

Pobby

I was quite surprised when the youngish couple next door said they bought a buy-to-let. It was the lady of the house behind it. Don`t think my buddy, her partner, is up for it. They do have a very low mortgage but it seems that it was only considered for a month before they went out and bought. He was moaning that they will have to subsidise the rent as they want to let via the council. Hmm, should have done a few more sums.

They are good mates so I didn`t mention that the BOE base rate was a touch on the lowish side.

Graham_Devon

I think we know BTL investors are stuck at the moment.

Reason being, and the same goes on here, they, and I could list names but won't, are all telling us nows the best time to buy, you'll miss the boat, buy now while rates are low, don't miss the boat!

Yet while sharing all this knowledge with anyone and everyone, not a single one of them is buying, and every single one of them who are telling everyone else they are missing the boat, are stranded on the shore, not even attempting to get a ticket for the boat.

Why's that then? I think we know why. It's all bluff to try and talk up the market to sheild their investments.

If it's really the best time to buy, then why the hell aint they buying.

chucky

Graham_Devon wrote: »

I think we know BTL investors are stuck at the moment.

Reason being, and the same goes on here, they, and I could list names but won't, are all telling us nows the best time to buy, you'll miss the boat, buy now while rates are low, don't miss the boat!

Yet while sharing all this knowledge with anyone and everyone, not a single one of them is buying, and every single one of them who are telling everyone else they are missing the boat, are stranded on the shore, not even attempting to get a ticket for the boat.

not me - bought three times in the last 15 months

i have balls the size of your head graham

to be fair many are stuck, finance at the moment for BTL isn't the easiest thing to arrange that is a massive stumbling block.

Graham_Devon wrote: »

Why's that then? I think we know why. It's all bluff to try and talk up the market to sheild their investments.

that's a bit of a silly thing to be thinking. how and what effect would talking up the market on a closed non-public internet forum have an effect on the market?? that's american tv x-files kind of consipracy theories you've got going there.

macaque wrote: »

Macaque's advice for troubled landlords

if they got through 2008 and 2009 they've not done too bad - i can't see 2010 being worse. not much better but i can't see it being worse.

StiflersMom

Graham_Devon wrote: »

I think we know BTL investors are stuck at the moment.

Reason being, and the same goes on here, they, and I could list names but won't, are all telling us nows the best time to buy, you'll miss the boat, buy now while rates are low, don't miss the boat!

Yet while sharing all this knowledge with anyone and everyone, not a single one of them is buying, and every single one of them who are telling everyone else they are missing the boat, are stranded on the shore, not even attempting to get a ticket for the boat.

Why's that then? I think we know why. It's all bluff to try and talk up the market to sheild their investments.

If it's really the best time to buy, then why the hell aint they buying.

Do you specialise in talking through your bottom Grim_devon?

I bought my first flat a few months ago - and counsel anyone who will listen to buy before the next big price rises in Spring 2010.

Your increasingly desperate posts really exude envy that others have done well in this market, while you have sat back (in your rental accomodation) and criticised from the sidelines.

Time to get in and buy Grom before it gets any worse for you (because it will ... it will...)

wageslave

Pobby wrote: »

I was quite surprised when the youngish couple next door said they bought a buy-to-let. It was the lady of the house behind it. Don`t think my buddy, her partner, is up for it. They do have a very low mortgage but it seems that it was only considered for a month before they went out and bought. He was moaning that they will have to subsidise the rent as they want to let via the council. Hmm, should have done a few more sums.

They are good mates so I didn`t mention that the BOE base rate was a touch on the lowish side.

On the face of it letting to the council can seem quite a good idea. You are guaranteed your cash and they undertake to return the property in exactly the same condition they got it.

The reality is rather different.

They tell you what they will pay and you can wait months for the first cheque. Your property gets wrecked by junkies and they do, what can only be described, as rough and ready repairs.

Not any landlords idea of nirvana

Graham_Devon

StiflersMom wrote: »

Do you specialise in talking through your bottom Grim_devon?

I bought my first flat a few months ago - and counsel anyone who will listen to buy before the next big price rises in Spring 2010.

Your increasingly desperate posts really exude envy that others have done well in this market, while you have sat back (in your rental accomodation) and criticised from the sidelines.

Time to get in and buy Grom before it gets any worse for you (because it will ... it will...)

Shame on me!

the_ash_and_the_oak

Graham already bought! (I think?)

Graham_Devon

the_ash_and_the_oak wrote: »

Graham already bought! (I think?)

Didn't wanna spoil his fun!

chucky

the_ash_and_the_oak wrote: »

Graham already bought! (I think?)

he bought half

StiflersMom

Graham_Devon wrote: »

Didn't wanna spoil his fun!

So why not Sell To Rent now, like the other HPC muppets?