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Debate House Prices


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Getting a mortgage is going to get even tougher.

124

Comments

  • nearlynew
    nearlynew Posts: 3,800 Forumite
    Buy_It_Now wrote: »
    Yes. NICE BIG DEPOSIT, just in case you missed it.


    How does a nice big deposit prevent arrears?

    I'm just curious. Having been a landlord for over 20 years, this one is a new one on me.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • Buy_It_Now
    Buy_It_Now Posts: 108 Forumite
    nearlynew wrote: »
    How does a nice big deposit prevent arrears?

    I'm just curious. Having been a landlord for over 20 years, this one is a new one on me.

    OK, lets spell it out. Arrears occur WHEN the tenant owes YOU money, yes? Tenant has paid a hefty deposit to secure the tenancy, payments fall behind, section 21 goes in, money from deposit used to cover arrears. I'm surprised you haven't figured this out in 20yrs as a landlord. Perhaps you need to find a better class of tenant :)
    :money: :money: :money: :money: :money: :money:
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    Buy_It_Now wrote: »
    OK, lets spell it out. Arrears occur WHEN the tenant owes YOU money, yes? Tenant has paid a hefty deposit to secure the tenancy, payments fall behind, section 21 goes in, money from deposit used to cover arrears. I'm surprised you haven't figured this out in 20yrs as a landlord. Perhaps you need to find a better class of tenant :)


    So the hefty deposit hasn't prevented the arrears then?
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • homelessskilledworker
    homelessskilledworker Posts: 1,664 Forumite
    Buy_It_Now wrote: »
    Tenants vetted....professionals only (nice big deposit), no cats, no dogs and no smoking :beer:


    It's all so easy is'nt it:rotfl:

    Or even just put that the rent up as and when it gets a little tough, buisness is that easy:rotfl:

    Some of you fly by night Landlords are in for a shock if you think thats how you do business, "just put prices up"
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    homelessskilledworker wrote: »
    So will arrears, how are you going to deal with that?

    Will it? What make's you think that?
  • Buy_It_Now
    Buy_It_Now Posts: 108 Forumite
    nearlynew wrote: »
    So the hefty deposit hasn't prevented the arrears then?

    As i said, you need a better class of tenant...surprised you haven't learned this as a landlord over 20yrs.
    :money: :money: :money: :money: :money: :money:
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    Buy_It_Now wrote: »
    As i said, you need a better class of tenant...surprised you haven't learned this as a landlord over 20yrs.

    What are you talking about?
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • Buy_It_Now
    Buy_It_Now Posts: 108 Forumite
    nearlynew wrote: »
    What are you talking about?

    ADHD?. Do you have a little wheel on your mouse? The wheel will let you scroll up on the thread. That will let you know what i am talking about :p
    :money: :money: :money: :money: :money: :money:
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    Buy_It_Now wrote: »
    ADHD?. Do you have a little wheel on your mouse? The wheel will let you scroll up on the thread. That will let you know what i am talking about :p


    I asked you how a hefty deposit prevents arrears.

    You have yet to explain.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • Going4TheDream
    Going4TheDream Posts: 1,258 Forumite
    Part of the Furniture Combo Breaker
    my understanding was that under the deposit security scheme landlords could change 2 months deposit for an unfurnished property and 3 months for a furnished.....and that the deposit could only be used for rent arrears after the tenant had moved out, deducting anything for cleaning etc prior to returning anything back to the tenant.....????
    Dont wait for your boat to come in 'Swim out and meet the bloody thing' ;)
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