Can't afford to fix boiler

caprikid1

If you can show me the books of any Housing Association that could sustain no rent from any properties for six months please let me know I would love to see how the non greedy sector is geared up to cope.

AdrianC

caprikid1 said:

If you can show me the books of any Housing Association that could sustain no rent from any properties for six months please let me know I would love to see how the non greedy sector is geared up to cope.

Ah, now there you get into the wisdom of massive non-diversification of incomes and assets...

Clue: Housing Associations do not have just two tenants, both reliant on a single boiler. And negative cash reserves.

youth_leader

YorkieDave, if you are anywhere near Alnwick in Northumberland I've got two oil filled radiators you can have.  

babyblade41

First and foremost get the heating sorted ASAP. Forget for now what the tenants have and have not done 

Any CC's you can use or borrow from family to get you out of a spot for now ?

You are going to have a long wait evicting now but I would sell the property at an attractive price ..it will get rid of so much stress 

moneysavinghero

As it's Christmas maybe we should all have a whip-round and buy the OP a boiler.

Salemicus

So we need to look at it from the opposite direction - can the landlord force tenants out by letting the property fall into disrepair to punish them for falling into arrears?

Really good point. Some of the posters in this thread are effectively excusing Rachmanism.

AnotherJoe

YorkieDave said:

I rent out rooms in a house. It's the only house I own. I live in a rented house elsewhere. The two people renting the rooms haven't paid rent for months. I haven't been able to evict them due to coranavirus restrictions. Now the boiler has broken in the house they rent from me. It's not economical to fix at all. Two plumbers have looked. I don't have the money to replace it. The non-paying tenants are threatening court if I don't fix or replace it. What do I do? Any advice would be much appreciated!

So its not really been a profitable rental proposition then given the profits dont even allow for very modest savings (eg just 1/20th the cost of a  new boiler put aside every year. Maybe a tenner a month.).

I suggest you sell this money pit

annetheman

This thread is a hot mess. I can't wait to buy my own home!

Crashy_Time

caprikid1 said:

"Landlords were just useful spigots for getting more secured lending into the economy over and above residential lending, and as the bubble deflates or pops (hope it pops) they are going to be milked for tax. "
You don't think they get milked for tax ? Maybe the larger landlords merely paying ltd company tax don't pay much but the smaller landlords certainly do.

Tax used to be more favourable than it is now, and I think it might get less favourable in future, government don`t want a stampede out of BTL though as that could cause more problems (for government) but I think holiday/2nd homes are going to be fair game.

[Deleted User]

babyblade41 said:

First and foremost get the heating sorted ASAP. Forget for now what the tenants have and have not done 

Any CC's you can use or borrow from family to get you out of a spot for now ?

You are going to have a long wait evicting now but I would sell the property at an attractive price ..it will get rid of so much stress 

The OP entered into a DMP with over £90k of unsecured debt last year. Other than friends and family he has no lines of credit available to him.