buy to let council tax warning and other warnings

ptwparkinson

I have several empty properties .
I am liable for council tax when they are empty .
When I receive the council tax bills I have to check when the last tenant moved in and when they moved out and sometimes they don`t even tell you they are moving especially if they are in rent arrears .
I can`t set up standing orders to pay because I would be forever cancelling the standing orders when new tenants move in and so by the time that I have done all of my checks etc I can be behind on the payment and the council do not give you very long before they issue a summons which may only be for 2 or 3 weeks council tax --- and they charge about £ 70 for the summons .
I have some empty properties which have been empty through no fault of my own for 2 years and the council then charge
150 % council tax because they want to encourage landlords to rent out the properties ... but these properties are in areas which have been allowed to decline by the council and people don`t want to live there and the council are now designating these areas for licensing which will cost £ 500.00 plus per property for the first year --- yet they still refuse to install alleygates to prevent thieves from stealing boilers , radiators and copper piping which they take out through back doors and load onto their vans which are parked in the alleyways --- and my insurers will no longer insure for theft in these post codes --- what on earth is this country coming to ????

Pixie5740

It does sound like you had a spate of bad luck. Like with any other investment BTL can make you money or lose you money.

Only you can decide whether it's worth persevering with.

Would you and the other property owners consider clubbing together to fit some alley gates?

RAS

if you have properties empty for 2 years, sell them? There does not appear to be the demand to justify retaining them?

ptwparkinson

can`t sell because prices have dropped and I would owe too much on the mortgages --- I just have to hope that things will turn around -- but I won`t be holding my breath ---- personally I would sell all my properties tomorrow if I could sell them for enough to just pay off the mortgages --- it is like living through your worst nightmare -- however I`ll just persevere and carry on as best I can !!


yes I have tried to get other landlords involved but the council would probably not allow us to do this ourselves -- they brought up a whole raft of excuses

harrys_dad

Like any other business Buy to Let has its ups and downs, although many seem to think it is an easy path to riches. You seem to have a number of properties in not very desirable areas, that you cannot rent and probably cannot sell either. You seem to have made a bad business decision and have to take the consequences. Not sure why you want to blame other people.

harrys_dad

Typed this while you were making your last post OP. So you can sell them, but not at a price which will clear your debts? I suggest you cut your losses now and sell them for what you can, as from what you say there is little hope of the prices increasing or of renting them out to cover mortgage payments. Like many others in a time of recession you seem to have a failing business, so don't put any more money into it.

ptwparkinson

Not blaming anyone else .
When I bought the cheaper properties my plane was to hold for 3 years and then to sell and buy a few better properties in better areas but the credit crunch stopped this .
When I bought these particular properties , I had them all refurbished and they were let out quite successfully --- and then when the government decided to start paying rents directly to the tenants the arrears started and drugs became more prevalent because the dealers knew when the tenants had their rent money and they just preyed on these people

---

then the tenants would be so drugged up that they would just trash places and move on to the next town and do the same thing there

---

I was chatting to my builder outside one property at 11 am one morning and a young girl of 18 maybe 19 came staggering out of a doorway up the road with a syringe still sticking out of her arm ---- she was someones child and the dealers had her hooked ---- shouldn`t be allowed to happen in this country or anywhere else for that matter
Saying that I blame someone else is a bit naïve --- you need to wake up --- smell the coffee and see what is happening all around you --- one of my boilers went missing once --- a male and a female called to see one of my tenants --- whilst the female was in the living room plying my tenant with special brew her male accomplice was in the kitchen taking the boiler off the wall with someone he had let in through the back door --- we just happened to catch them in the act --- we called the police --- slapped their wrists and sent them on their way -- and when the police have been called to my properties where the whole central heating system has been stolen they just turn around and say " claim it on the insurance we `ll give you a crime number " ---- my insurers as I have already said refuse to insure for theft in certain post codes now !!!!!!!
My fault for buying in these areas but what has been happening is certainly not my fault !!!

lighting_up_the_chalice

Ah, those cheap houses that were just too good to be true. Selective Licensing, although an additional expense, may be a help in the longer run. But short term, selling may be the only way out.

dimbo61

Are we talking about Liverpool or Wales and selective licensing?
Manchester have now scrapped all the selective licensing in the few areas they had in Manchester.
Waste of time just another £500 bill that will be passed onto tenant.

lighting_up_the_chalice

dimbo61 wrote: »

Waste of time just another £500 bill that will be passed onto tenant.

Not at that end of the market, where the buyer is King. Better to swallow the £500 charge and have a tenant than risk a 2 year void and its associated costs.

ACG

With this and your other post, are you sure you have made the right choice with your money?