Buy to Let

[Hoofy]

Jobbo said:

Hoofy said:

jonah35 said:

Well, your phone would be off so you would ignore it until 9am and then You would text the plumber to go and sort it and get the plumber to forward you the bill

I suppose you could do it like that.

Since I'm about to become a landlord (hey, I advise landlords for a living every day - I should have no problem... ) it was a genuine question. It strikes me that tenants have a very unrealistic expectation of how quickly things can be fixed. If I live in my own house, I have to call up a plumber/gas man or whatever and wait for them to turn up. Being 5mins away or being a couple of hours away won't make any great difference to how long it takes to fix. I suspect it'll make a difference to how much the tenant thinks he or she can get away with, though.

In my mind, I imagine a family of young kids - not nice if the boiler dies in the evening, for instance, and they don't know if it will be fixed until the next afternoon or worse.

I have no experience of this so it's all questions from me. I am just thinking of possibilities.

[Jobbo]

Same problem if that family with young kids owns the house rather than renting it. Though of course, the expectation is that the magic landlord can get it fixed within a few minutes, I'm sure.

[hyphen]

Mezger said:

jonah35 said:

Get a freehold house not a flat.

Service charge and ground rent eats into a flats income too much.

A friend of mine buys in Huddersfield, gets them for c.£60-80k and rents out for c.£500pm.

Good uni, between leeds and manchester, on m62 and so on.

That's a very decent gross yield at 7.5% even with a 50% deposit wouldn't take long to build up a decent portfolio. What's the tipping point where it makes sense to go ltd company vs individual with new tax regime?

What is the net yield, and are they ready to let as-is, or in need of more investment and a large void period whilst done?

As I imagine capital appreciation will be low in a property on the outskirts of a small northern town.

[Hoofy]

Jobbo said:

Same problem if that family with young kids owns the house rather than renting it. Though of course, the expectation is that the magic landlord can get it fixed within a few minutes, I'm sure.

Yes, of course, but if they own a house, it isn't me that gets a call from a crazy woman at 11pm on a Tuesday.

[jonah35]

hyphen said:

Mezger said:

jonah35 said:

Get a freehold house not a flat.

Service charge and ground rent eats into a flats income too much.

A friend of mine buys in Huddersfield, gets them for c.£60-80k and rents out for c.£500pm.

Good uni, between leeds and manchester, on m62 and so on.

That's a very decent gross yield at 7.5% even with a 50% deposit wouldn't take long to build up a decent portfolio. What's the tipping point where it makes sense to go ltd company vs individual with new tax regime?

What is the net yield, and are they ready to let as-is, or in need of more investment and a large void period whilst done?

As I imagine capital appreciation will be low in a property on the outskirts of a small northern town.

Ready to let as is maybe a bit of pInting
Why a void period? They let and have tenants queueing up

If you rent it privately so many tenants want to deal with you to save on letting agent fees

CPital appreciation still okbut thats not really what its about