Can't afford to fix boiler

Angela_D_3

elsien said:

If they don’t have it, due to a change in circumstances, then they can’t pay it. Have you seen the mess that UC has created for some tenants through no fault of their own?
That makes them neither a bully or a thief. I do hope that the next time you try to unlawfully evict someone, you get your just desserts. 

I did mske clear if they demonstrated they’d applied for UC thats a different matter.  

Crashy_Time

Angela_D_3 said:

lookstraightahead said:

Angela_D_3 said:

warwick2001 said:

So, GENUINE question. To the landlords that frequent this thread/website, how many months of 'unpaid rent' do you have set aside, in case every one of your property's tenants stop paying?

So far in this thread, 6 months up to a year appears to be the norm/advised. But if evictions aren't happening for approx. another year or so, do we all expect to see a mass of landlords essentially having to quit landlord-ing (if that's a verb....?) as they haven't received any rent for 18 months or so (due to job losses etc. cos of the pandemic). Like I said, genuine question. I'm not a landlord, so have no 'horses in the race', so to speak. Just interested in the thoughts here 

It wouod tske 6 months minimum before the banks would start proceedings,  therefore if you had 6 months mortgage payments set aside youd be fine.  In theory. 

However not paying is dimply not an option for my tenants.  If they've applied for universal credits snd are awaiting that fine,  if they are working and simply pocketing the cash they'd be out.  You cannot let people take the !!!!!! out of you in any business.  You only rent to people with more to lose than you by not paying,  be that credit record,  guarantors money,  roof over their head.  

Your tenants do have that option, and they wouldn't be "out" (not by you anyway for a long time). You are not in charge of tenants, you are not doing them a favour, and they are your customers. We're not living in the 17th century.
It might be unfair, but the law is bigger than you.

The law is a joke.  Your landlord absolutely is in charge of whether you stay or go.  One way or another.  I honestly think some of you live in cloud cuckoo land.  I haven't done it,  ive not needed to be rental agents,  turn off water supplies,  electricity,  let tires down.  They'll get rid of people if they want yo and the police do nothing.  

 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. 

lookstraightahead

Angela_D_3 said:

lookstraightahead said:

Angela_D_3 said:

warwick2001 said:

So, GENUINE question. To the landlords that frequent this thread/website, how many months of 'unpaid rent' do you have set aside, in case every one of your property's tenants stop paying?

So far in this thread, 6 months up to a year appears to be the norm/advised. But if evictions aren't happening for approx. another year or so, do we all expect to see a mass of landlords essentially having to quit landlord-ing (if that's a verb....?) as they haven't received any rent for 18 months or so (due to job losses etc. cos of the pandemic). Like I said, genuine question. I'm not a landlord, so have no 'horses in the race', so to speak. Just interested in the thoughts here 

It wouod tske 6 months minimum before the banks would start proceedings,  therefore if you had 6 months mortgage payments set aside youd be fine.  In theory. 

However not paying is dimply not an option for my tenants.  If they've applied for universal credits snd are awaiting that fine,  if they are working and simply pocketing the cash they'd be out.  You cannot let people take the !!!!!! out of you in any business.  You only rent to people with more to lose than you by not paying,  be that credit record,  guarantors money,  roof over their head.  

Your tenants do have that option, and they wouldn't be "out" (not by you anyway for a long time). You are not in charge of tenants, you are not doing them a favour, and they are your customers. We're not living in the 17th century.
It might be unfair, but the law is bigger than you.

The law is a joke.  Your landlord absolutely is in charge of whether you stay or go.  One way or another.  I honestly think some of you live in cloud cuckoo land.  I haven't done it,  ive not needed to be rental agents,  turn off water supplies,  electricity,  let tires down.  They'll get rid of people if they want yo and the police do nothing.  

Can't you see how it's absolutely irrelevant whether you think the law is a joke? Your landlord is not in charge.

[Deleted User]

You can also (as has been suggested by me and another poster) approach the council, explain the situation and see if they will help to keep the tenants from being made homeless.  Have you investigated (if they are in receipt of benefits) if rent can be paid to you directly?  

Or as above.., get a plumber who is prepared to fix the boiler.  I am not sure how it can be not worth it to fix a five year old boiler (according to the last person who saw it)?

It sounds like you have had two nasty sets of tenants.., I am sorry, but whatever checks you have done, didn't help? Maybe a guarantor was needed.  Checking social media gives you a good feel for their priorities etc. 

Salemicus

The trouble is that when people stop paying rent they are the bullies and the thieves.

You have said this repeatedly, and you are mistaken. That is not what theft is. Theft is when you take possession of something that doesn't belong to you, in a dishonest way. If you rented a property never intending to pay the rent, that would perhaps be theft (or fraud). But if after taking possession of a rental property in an honest way, you later decide not to pay, that isn't theft. That's just breaching a contract - an archetypal example of what civil courts are there to remedy.

Crashy_Time

YorkieDave said:

There have been some really helpful replies on here, thank you for those.

It's quite disappointing to find some of you berating me. I'm not sure what's to gain. If you feel better for it then that's great! I was just looking for practical advice. 

I'm not sure why I feel the need to justify my preparedness, or not, for this situation, but I'll give a bit more information. I have one property I rent out. It's gone swimmingly for 19 years, until this year. I have all the legal requirements in place, TDS and safety certificates and tenancy agreements etc. In 2019, I had enough to cover 12 months rent / bills on the rented house, plus enough set aside for a major repair like a boiler. 
Then both my wife and I were made redundant from separate industries within a short space of time.
We then both went self employed. That means we've had hardly any help during the pandemic.. 
Add to that my previous tenants did a runner at the end of 2019 owing rent and leaving the house like something out of extreme cleans with damage to doors, fittings, walls etc. That cost a lot of time and money to fix.

I've been very careful who I've chosen as tenants, so I think I've been unlucky.
Could I have been more prepared, sure. Will I get out of the property game, yes, as soon as I can! 

Shouldn`t you have insurance for boilers etc.?

caprikid1

Aranyani said:

caprikid1 said:

I would like to understand how long most of the landlords with more than one property could remain solvent if all of their rent stopped for 6 months. I think there are some harsh / self righteous comments being aimed at the OP. I agree that renting a property whilst in a DMP was probably the wrong move but some of the unsubstantiated comments are IMHO unacceptable.

6-12 months without rent is exactly the kind of thing potential landlords should consider and plan for before they go into the business.  It’s not so out there or unusual. 

Sorry please read again,,, "solvent if all of their rent stopped for 6 months" I agree you should be able to sustain it on the odd individual property but no portfolio landlord would keep enough cash coverage for all. They would have re-invested it long ago.

caprikid1

"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.

AdrianC

Salemicus said:

The trouble is that when people stop paying rent they are the bullies and the thieves.

You have said this repeatedly, and you are mistaken. That is not what theft is. Theft is when you take possession of something that doesn't belong to you, in a dishonest way. If you rented a property never intending to pay the rent, that would perhaps be theft (or fraud). But if after taking possession of a rental property in an honest way, you later decide not to pay, that isn't theft. That's just breaching a contract - an archetypal example of what civil courts are there to remedy.

"...intent to permanently deprive..."

AdrianC

deannatrois said:

Or as above.., get a plumber who is prepared to fix the boiler.  I am not sure how it can be not worth it to fix a five year old boiler (according to the last person who saw it)?

It's not actually that hard for a cheap boiler to be uneconomical to fix, if there's a pile of expensive parts required.

Let's say you have something like this...
https://www.screwfix.com/p/ariston-e-combi-one-gas-lpg-combi-boiler/534cf
...and the heat exchanger has leaked into the ECU/control panel...

Maybe some of the parts aren't even available? Maybe they are available, but with a long delay?