Good Old Fergus!

Pennywise

Graham_Devon wrote: »

We have cover in our business under British Gas. Always there the same day (if reported in the morning)

You've been lucky _ we had a British Gas service contract and they took 5 days leaving us without heat and hot water, needless to say we didn't renew.

westernpromise

We found British Gas would tell you 8 till 1 or 12 till 5, then turn up at 5 to 5 and say it was too late to do the job so they were going home.

They also broke one other thing every time they "fixed" anything.

chucknorris

westernpromise wrote: »

We found British Gas would tell you 8 till 1 or 12 till 5, then turn up at 5 to 5 and say it was too late to do the job so they were going home.

They also broke one other thing every time they "fixed" anything.

We've got all our properties on with BG Homecare, and the wide appointment slots are a real pain to both us and our tenants. Especially when they fail to turn up (without warning) and therefore create another half day when someone has to stay in for them.

molerat

http://www.kentonline.co.uk/ashford/news/property-tycoon-hikes-rent-within-hour-of-interest-rate-rise-187330/

Zandoni

molerat wrote: »

http://www.kentonline.co.uk/ashford/news/property-tycoon-hikes-rent-within-hour-of-interest-rate-rise-187330/

Not a very nice man at all.

westernpromise

What else would one expect him to do?

caronoel

molerat wrote: »

http://www.kentonline.co.uk/ashford/news/property-tycoon-hikes-rent-within-hour-of-interest-rate-rise-187330/

Sadly ,due to the tenant tax ans a rise in interest rates, there will be many more landlords forced to put up rents

michaels

caronoel wrote: »

Sadly ,due to the tenant tax ans a rise in interest rates, there will be many more landlords forced to put up rents

Seems like a poor business person who was previously charging less rent than the market would bear.

Graham_Devon

molerat wrote: »

http://www.kentonline.co.uk/ashford/news/property-tycoon-hikes-rent-within-hour-of-interest-rate-rise-187330/

He was, a couple of years back, stating how clever he was, being on a fixed mortgage across his portfolio (the one he had no real choice in as was going to bankrupt the bank).

So if that is, or indeed, even was the case, this is just profiteering.

I do like the blanket £50 per property though due to a percentage rise. Paying £600 rent? It's increased to £650. Paying £900 rent? It's increased to £950.

It's just a bizarre way of doing things. Begs the question over what sort of tenancy agreements he has in place. Do the agreements just let him jack up rent as and when he feels like it?! Never heard of blanket increases like this, it's basically unlawful...and you can't "just do it" immediately.

I just feel sorry for any of his tenants.

Malthusian

Graham_Devon wrote: »

So if that is, or indeed, even was the case, this is just profiteering.

Sort of. But mostly it's cheap publicity.

As you point out it's nothing to do with the interest rate rise: even if he wasn't on fixed term mortgages, an interest rate rise would dictate a percentage increase in rents, not a flat £50 regardless of the current rent.

Bear in mind that the guy has been planting stories in the papers claiming that he's going to sell his colossal portfolio to the Chinese or the Arabs for x hundred million, which was a fantasy, and that despite claiming to own hundreds of properties his residents have reported that he turns up to fix maintenance problems personally. This "blanket increase" will probably involve him personally typing a few letters to his handful of tenants individually, and then ringing the bank to increase their Direct Debits when the increase takes effect.

As to the legality, I imagine that there is either a rent review clause in place or this increase will take effect from whenever the AST renews.