Right To Buy Scheme after Succession 4 years ago

Harkness

well its a little bit embarrassing to talk about especially online to strangers, i get the welfare disability money from the government all through my life, its all together total every month about 1300. iv tried many many different jobs over the years and its 100% not from a lack of trying i promise and the only other way i can think to up our lives now is if i work for myself so the one thing im good at is managing peoples place to stay as iv watched all my carers do it all growing up im very good at it also from renting rooms to lodgers over years

I grew up in care but stayed here on the weekends and then i came back to the family home permanently where my mom could look after me at this point. All the family then grew up and flew the nest but not me and mom shes a saint, But then a few years ago i got insanly lucky and i met online my partner today and she came from slovakia to live me and we look after each other now and so my mom was able to have her own life once again and now she lives with her boyfriend of many years in north shields and im renting our family home from YHN weather it was a succession or a transfer im not sure but will find out. I definitly have a tenancy agreements here though 100%.

Now the flat is a very large flat 3 bedroom, recently declassified from a 4 but wont take much to get it reclassified back to a 4 just a case of filing in a knocked through wall. It also has a very high and wide loft, Wev put alot of our saving into developing this loft space out flooring walls rooms water electrics the works when finished it will have 3 rooms and a large bathroom up there with a real staircase coming down the back end of house, its about half finished theyv done flooring and outer walls so far, we do it in stages so we dont spend too much money too fast.

one of my best friends is a lanlord on my street and he has 7 of the properties here including under me, he is very good kind man and helps me alot and im always bugging him with more questions xD anyways he gets 400+ per student in his properties so say that i filled mine not the loft just the rooms its declared to have now, thats 3 double rooms and 2 single room, students dont need a living room or a dining room. so lets assume iv done all my references and everyone is paying on time etc at a minimum of 400 per head. so that would be minimum 3200pm estimated. more than enough i think for landlord insurance in case of damages or non payment plus a nice little 3 bedroom somewhere for me and my family, plus being able to support my family myself and being truly self sufficient.

None of this will be done until after any morgage this is all years down the line my firend.

Thanks for all your help and time with this.

Harkness

thanks Caz iv iv been on there a printed off pretty much the whole of YHN's site at this topic xD and everyone here has been so amazing in helping me understand everything i was confused about in OP now its just people warning me about something i might not know about like extra charges and stuff like that. Thanks again

diggingdude

Students don't need living room or dining room ......

Crikey I wouldn't want you to be my landlord. Students need everything the rest of the population need, they just don't get it as they have limited funds and landlords bunging 5 students in a small house and charging 3 times the rent value of the house we will sole dwelling.

Norman_Castle

Wev put alot of our saving into developing this loft space out flooring walls rooms water electrics the works when finished it will have 3 rooms and a large bathroom up there with a real staircase coming down the back end of house, its about half finished theyv done flooring and outer walls so far,

Is the landlord aware of this work and does it meet planning requirements?

Harkness

oh yes of course they are aware of everything I do regarding the house and so is council just to be safe, no permission was needed for flooring and outer walls though just if you wanted to know,

diggingdude being my own landlord I get to choose who i let to, it would be totally my prerogative, I didn't make the game im just trying to play it like everyone else does, My place is far from small btw the only small places are the single rooms every other room is a double room, I wouldn't LET to anyone that wasn't happy or grateful to be living here though. I 'll make sure everyone is happy and has waht they need, its what im good at

I understand what your saying but dont agree, students are here to attend our famous uni there here to learn, after which they leave (i will add they will leave most of their belongings for the landlords to clean up as well as any damages that always happen from hosting students, not to mention the pages and pages of noise complains and fines we will receive from student parties) its definitely a two way street kind of think, it would be totally mine and any other landlords prerogative to develop their properties to maximise income. Also I believe that any student who wishes for a living/communal area / dining area would be better suited elsewhere for example student accommodation which is pretty cheap compared to private landlords so in response to it, if it ever came up, i would refer any one who asked for these facilities to the local student accommodations which would be more in their price range. Im not planning on targeting the English students. I will be targeting the rich Chinese students like my landlord friend is doing. At the end of the day landlording is a job in itself. Thanks for imput

csgohan4

Harkness wrote: »

oh yes of course they are aware of everything I do regarding the house and so is council just to be safe, no permission was needed for flooring and outer walls though just if you wanted to know,

diggingdude being my own landlord I get to choose who i let to, it would be totally my prerogative, I didn't make the game im just trying to play it like everyone else does, My place is far from small btw the only small places are the single rooms every other room is a double room, I wouldn't LET to anyone that wasn't happy or grateful to be living here though. I 'll make sure everyone is happy and has waht they need, its what im good at

I understand what your saying but dont agree, students are here to attend our famous uni there here to learn, after which they leave (i will add they will leave most of their belongings for the landlords to clean up as well as any damages that always happen from hosting students, not to mention the pages and pages of noise complains and fines we will receive from student parties) its definitely a two way street kind of think, it would be totally mine and any other landlords prerogative to develop their properties to maximise income. Also I believe that any student who wishes for a living/communal area / dining area would be better suited elsewhere for example student accommodation which is pretty cheap compared to private landlords so in response to it, if it ever came up, i would refer any one who asked for these facilities to the local student accommodations which would be more in their price range. Im not planning on targeting the English students. I will be targeting the rich Chinese students like my landlord friend is doing. At the end of the day landlording is a job in itself. Thanks for imput

Lol, the rich Chinese don't rent dumps and especially ones without a living and dining room, they rent nicer places or like normal Uni students and house share. Why is yours any better?




I hope you know your legal and tax implications of being a LL and it's not the Cashcow it used to be. Plus all the costs involved.




https://forums.moneysavingexpert.com/discussion/5896992/evicting-tenants-via-court-and-bailiffs


https://forums.moneysavingexpert.com/discussion/5956212/need-advice-after-evicted-a-tenant

Harkness

look i dont need to explain myself to you and im getting fed up with going way of my topic with some of yous newer people now.
My op has been solved so what you are all doing replying here i have no idea because your not helping anymore..
What makes you believe my place is a dump that's a very nasty thing to say/ if you cant add anything helpful or nice then just dont bother yourself, in fact my house is one of if not the most modernised and clean of the lot on my street. I will do a better job at it than i see other landlords doing and the evil ones you see on tv. Also i know its not at all the same but i have a wee bit of experience with it already read above posts. I aim to be complete opposite to that. Not that i need to explain anything to you my place is in a prime Chinese location in Newcastle city centre right next door to the uni. All properties on my street are pretty much similar, there are only few english people on my street including me. Once again we not blindly rushing into anything a lot of thought and money is being put into this idea. If you ask me all these houses on this street are in fact dumps imo even know they are not dumps i would certainly class them as but thats just because i have very high standards of living. saying Chinese dont rent dumps then i look outside widow to see my street full of Chinese students heheehe some people xD. Thanks a for your input yes all financial implications will be considered but im sure there are many we dont yet know about that are hiding as there always is but projected profits would cover more than enough any surprises not to mention getting me off the welfare and supporting us all by myself, that idea alone to me is worth more than any currency you have...

Also all the houses on my street that are currently for students and currently have Chinese students letting them have living room converted and dining room converted into bedrooms. Once again... Students do not need these facilities they are here to learn and go, having more rooms encourages bigger parties and will lose my family out on a lot of money. and i also just find out in most student accommodations these rooms are also not available.

Harkness

basically i mean to say these houses are not dumps but the student population makes them all dumps....
edit
not to mention living in a large city. imo any house in large city is a dump due to being in a city

Harkness

sorry i don't know what you mean by "why is mine any better"? for £400 a head that doesn't make my house any better than all the other houses on my street currently occupied by the richer students. Please dont put words into my messages xD and by all means we could leave the living room and dining room how it is however that would greatly be reflected in the rental price in order to make up what we would be losing from the extra double room and extra single room we would have otherwise. I would rather keep it as cheap as possible can for everyone while still making money to support my fam.

Harkness

wowoo those where some truly horror stories in your links thanks so much for sharing that I will make also high deposits/bonds when the time comes but right now where a long long way off that stage yet though