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Hi. I just wondered, all of you in "landlords in distress" - how do you cope with it all?
I'm feeling really depressed and I can't sleep. It's on my mind all the time and affecting every part of my life.
How do you deal with it? I need help.
Just take the proper steps as recommended - knowing that in a while he will be out of your hair.
Being a landlord is not for everyone and is certainly not a passive income as sometimes suggested in media
Tenant will also be stressed so will logically not wish to prolong matters any longer than necessary hopefully.
Unfortunately the LL usually has more to lose than the tenant, which is why it can get stressful.
Hand over the problem to Landlord Action as suggested on the other thread and you will be dealing with a professional solution.
Work out what went wrong, when, why, and what the warning signs were and where next time you could put checkpoints in place so it doesn't happen again.
I'm not a 'professional' landlord with a pile of buy-to-lets or anything like that.
I got married and moved in with my husband and I didn't want to sell my house as I was quite fond of it and I thought one of my children might want it at some point.
So I thought I'd rent it out for a while.
I'm completely out of my depth really.
Thank you for your advice. I have 'handed over the problem' and will try and find some pragmatism and file it away somewhere and just wait and see what happens until it's over.
You all seem so strong and so calm and matter-of-fact about it all and have so much experience.
Between us LL's on here we've seen pretty much all the tricks played between us!At least you found this place and have started the ball rolling to get the problem solved so there's not really much else you can do at this point.
I had some hassle when I first started out, and it actually put me off being a LL for about 5 years until I did what I listed above and worked out what the problem was, what the warning signs were, and what I could do differently next time.
I realised the Letting Agent were complete BS'ers.
I realised if anyone was going to lose me money it would be me.
I realised if I wanted to be a LL I had to self manage or I wouldn't bother.
And since I've done that, touch wood, although I've had a few problems, they've been nothing compared to what that crappy LA did to me.
Some people love LA's, some people loathe them. Some LL's rent to tenants others wouldn't ever dream of dealing with, in areas others wouldn't dream of. But we're all LL's at the end of the day.
You are already on the LL journey whether you like it or not! You don't sound like a quitter as you have a long term plan to pass on the property, so you need to formulate what works best for you after this episode is history to then move on and put that ultimate plan into reality.If you haven't joined one of the landlord associations yet I would recommend it, and ask them as well for any help. In the early days I was on to the phone to them all the time and they were great!
I really appreciate it.
I'm not a professional landlord, I was letting my parents property (inherited) and the tenant fell into arrears through ill health. At 6 months arrears I requested the letting agent (fully managed) to start the eviction process. It took another 10 months to gain possession.
I didn't have to deal with anything directly, the letting agent used their legal department, but there was still an element of stress. Far greater than the stress was the need for patience, it will feel at times that you're getting nowhere, but eventually it will be sorted.
Let the professionals do their job and follow their advice, accept that you're going to lose some income and use the time to decide what you will do when it is over. My plans changed dramatically and for the better. I have a non paying tenant to thank for prompting me to become better educated.
Good luck and all the best for your future.
Just thought I'd wish you all the best, There are some nightmare tenants out and you just have to get on with it really and be thankful that your life is better than theirs.
I've been letting property for years and get "caught" from time to time. I guess your situation is made worse from the fact that property was once your home.It might be worth you thinking about selling it if there is good capital growth and take the profit tax free?
Anyway, I wish you well !
We are all completely out of our depth at various point in our lives so dont feel bad
First day at school
First driving lesson
First investment property
In life - always seek out someone who can help you with the stuff you struggle with
Then either learn from them and do it yourself or decide to pay them to continue to do it for you
By doing that you retain personal control and you will find your stress is contained and manageable
We are surrounded by random acts of kindness on this earth
PT has many Raktavists in their ranks
Seek and ye shall find
Jonathan Clarke. http://www.buytoletmk.com
different matter wondering if you know how to get rid of Roma gypsies who have squatted in my flat giving the impression that the previous tenant gave them a contract police won’t do anything.
I would have a 2 fold approach
1) Illegal squatting can be a criminal offence so I would want to examine why the police said they wouldn`t do anything . They have powers to enter a house and arrest suspect squatters and it carries 6mth imprisonment or a £5000 fine
It may have been a junior officer not fully cognisant with their powers who advised you or perhaps someone just trying to make the problem go away
So i would want to double check with a senior officer as to why they were not responsive and record who told you that and why they wont do anything . If still not happy then put that a complaint in writing and see what their response is but that will take time
2) Contact an eviction specialist like Landlord Action https://www.landlordaction.co.uk/
They are experts in this field and will steer through the best options