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Renting out RTB home
Comments
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I'd imagine that was self evident.
Oh here we go. I thought you were being anal because they'd had a child fairly soon. But it seems more likely it's a RTB moan.
Look, 99% of people on here moan their tits off about RTB. But I guarantee you that 99% of people would also take a 50k bung from the state given the opportunity.0 -
Bluebirdman_of_Alcathays wrote: »Oh here we go. I thought you were being anal because they'd had a child fairly soon. But it seems more likely it's a RTB moan.
Look, 99% of people on here moan their tits off about RTB. But I guarantee you that 99% of people would also take a 50k bung from the state given the opportunity.
I quite agree.
The OP can procreate as she wishes. And then take full advantage of social housing. And then profit from said social housing.
And then rent out what was social housing.
No, nope i can't see a single problem with that.0 -
So if you rent, will you be able to afford the costs that comes with being a LL, ie. repairs, break in between tenancies, or worse, no rental for months, court fees etc...? If you don't have that buffer, don't consider it.
Also, do you realise that if you rent elsewhere for some time, and then decide to sell your BTL and buy elsewhere, there will be tax implications?
Finally, could you actually get a BTL mortgage at all? Would that be on your own or with your partner? Assume he doesn't own anything in his own right, so without either of you home owner (in addition to the property to turn into a BTL), unless you earn a reasonable income, you will find that offers for a BTL are limited.
PS: We all look at securing our future as a priority, that's why we are all selfish, just remember that next time, when for instance, your LL doesn't care at all about you, just his monthly payments, because after all, the only think he'll care about is his own long term financial future.0 -
You need to check the terms and conditions of your right to buy agreement. Its usual for the council to claim back the discount if you sell or rent out within the first five years.
You need to repay some/all of the discount if you sell within 5 years of exercising your RTB. However, a strange quirk (well I think it's odd) of RTB is that you don't have to repay any of the discount if you let the property out within that 5 year period.
There's nothing stopping those (on the RTB side of things) who have taken up their RTB from letting the property.0 -
OP wants their cake and eat it, Karma will always bite back, hope you can avoid bailiffs and void periods"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
I quite agree.
The OP can procreate as she wishes. And then take full advantage of social housing. And then profit from said social housing.
And then rent out what was social housing.
No, nope i can't see a single problem with that.
The renter would then be paying more than the social housing that was taken away.0 -
Being a Landlord is not easy money. There are many pitfalls for the newbie LL. Think carefully."A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
The renter would then be paying more than the social housing that was taken away.
Undeclared no doubt...Being a Landlord is not easy money. There are many pitfalls for the newbie LL. Think carefully.
It's a 5h1te site easier when you've got a substantial tax payer funded buffer of £'000's behind you.
Let's be having it. This is exactly why RTB is a disgrace. And i make no apology for having that view.0 -
Then have a go at your MP - not the OP, who is doing exactly what they are entitled to. And unless you are somehow a paragon of virtue, I bet you would do the same.Undeclared no doubt...
It's a 5h1te site easier when you've got a substantial tax payer funded buffer of £'000's behind you.
Let's be having it. This is exactly why RTB is a disgrace. And i make no apology for having that view.0 -
Bluebirdman_of_Alcathays wrote: »Then have a go at your MP - not the OP, who is doing exactly what they are entitled to. And unless you are somehow a paragon of virtue, I bet you would do the same.
I'm not going to argue with you. I respect you as a poster.
But nor will i ignore such matters on an open forum.
And FTR no i wouldn't. The whole concept disgusts me.0
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