Potential Problem with letting valuation

biting_the_bullet

Missed the btl boat by about 4 years, bad luck our kid. I've heard empty lemonade bottles are a better investment these days.

whambamboo

biting_the_bullet wrote:

Missed the btl boat by about 4 years, bad luck our kid. I've heard empty lemonade bottles are a better investment these days.

4 years?

more like 14.

Or 8 anyway.

clutton_2

yes, bbear - i did forget voids ! - my list was just really quickly compiled (i have had so few voids, i forget about them !) and some of your other items.

""oh yes and 3-bed is an HMO,"" - not necessarily the case - a HMO is judged on the number of households residing in a property - one family is a household, so if a family live in a 3 bed house, its not a HMO. If it is 3 unrelated persons living in the same 3 bed house , then it becomes a HMO.

Capital gains tax, is not as onerous as folks think it might be - there is taper relief, and £8k personal allowance each year, and other allowances to be claimed against it.

Having said all that -

can we add Accountants Fees to the list !!!!! i could not do my tax return without him

Can we also add Book-keepers fees to enter up all the information !!!

the new deposit scheme will not be up and running to April (it has already been put back twice). There will be 2 schemes - landlords will only have to lodge a deposit with a third party if there is a dispute on leaving under one scheme, and the other scheme i cannot quite remember (something to do with an insurance backed scheme - it has been put back, as the government cannot find anyone to admininster it economically. )

barnaby-bear

clutton wrote:

yes, bbear - i did forget voids ! - my list was just really quickly compiled (i have had so few, i forget about them !)

""oh yes and 3-bed is an HMO,"" - not necessarily the case - a HMO is judged on the number of households residing in a property - one family is a household, so if a family live in a 3 bed house, its not a HMO. If it is 3 unrelated persons, then it becomes a HMO.

he was talking about relying on 3 nurses - or maybe that was just a fantasy - 3 nurses - sisters

clutton_2

:eek: BB - i am not too sure that i want to know about your sexual fantasties on a public forum !!!!

barnaby-bear

clutton wrote:

:eek: BB - i am not too sure that i want to know about your sexual fantasties on a public forum !!!!

Ahh you've obviously not met libitina yet... and that avatar.
But seriously this guy sounds like he wants to buy a hous and get a group of nurses/students to pay his mortgage, no maintenance etc....

clutton_2

if he wants to house more than 2 nurses he will have to comply with the HMO regs and contact the local council HMO officer and ask what their requirements are. Different councils have differing criteria.



"""Fag-packet rule of thumb is that house price / 1,000 = weekly rent""

i have tried this on every single one of my houses, and it brings in a FAR lower rent than the rents on my properties. Maybe this formulae is more likely to work in a particular part of the country ?

barnaby-bear

clutton wrote:

if he wants to house more than 2 nurses he will have to comply with the HMO regs and contact the local council HMO officer and ask what their requirements are. Different councils have differing criteria.
?

Tell OP! I considered this he doesn't seem to have the uncertaintity as to the licensing of HMOs/deposits and cost is so uncertain at the moment - 3 nurses/students sounds risky let alone the valuation. I'm a bit bemused/disturbed that he doesn't seem to know about these kind of things...

clutton_2

""I'm a bit bemused/disturbed that he doesn't seem to know about these kind of things""

me too

barnaby-bear

That's our Libi!
http://forum.globalhousepricecrash.com/index.php?showtopic=8850