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  • Buy-to-Let

    Milton Keynes council "desperate" for LLs

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    It is offering a number of incentives to private landlords when willing to lease their properties to the council, with the main ones being:

    Quite a generous package is on offer

    "A guaranteed rent every month which will be 10% higher than the local housing allowance level

    A full management service

    Repairs and maintenance undertaken by the council

    Annual gas safety checks

    The landlords will not have to pay any service or administrative charges"

    Is it enough to compete with open market rent levels?

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    Sound as if it could be a hands off investment.

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    On the surface it looks potentially attractive but on closer examination its not that special

    The article is also incorrect in some of its facts

    Its not full management - LL still sort out the gas safety checks

    Some repairs are done but not major ones like boiler - so possible disputes

    Service charges are still payable by the LL

    also

    Its a 3-5 yr  lease which several  lenders wont allow

    The LHA rate is 10% above yes but I can now get sometimes  25% + above LHA rate with working tenants

    It amazes me they freeze the LHA rate but then belatedly say they will offer to pay higher than that frozen rate

    What a poor management message that sends out. LL`s wont be taken in

    Should have kept to the BRMA  calculation and we wouldn't have this problem

    LL has to do an electrical certificate

    You have to comply to a higher standard eg  window restrictors doorstops fire blankets etc  which are  yes nice to have but over and above what is legally required

    And the really crazy part of the scheme is that  they only take vacant properties

    So in order  to take advantage of it i have to first evict existing underpaying  LHA tenants make them homeless and they then replace them with other homeless LHA tenants. They don`t take any notice of my sec 21 but force me to fork out £800 or so to go to court. They then put my ex LHA  tenant in a very expensive B&B 10 miles out of town at a horrendous cost to the taxpayer but say in effect  don`t worry I can now put in another homeless tenant in your property. Its a political paper exercise  and is a largely disingenuous scheme developed to mask a rapidly developing homelessness crisis

    Now my logic is simple.

    I`m evicting my tenant because the LHA rent doesn`t reach market levels

    Solution  - why not just pay me that top up each month to reach  market level and i will keep them

    Keeps everyone happy and saves all that heartache

    But no they just seemingly want to totally disrupt peoples lives.

    The underlying homelessness stats remain unchanged

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    Jonathan Clarke. http://www.buytoletmk.com


    It's very kind of MK council to offer an extra 10% of tax payers money on top of the current (tax-payers money) rate...

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    Yes mk council has just moved some scumbags into the flat below me.they were up rowing at 330 in the morning,i have to go to work so that i can pay my bloody council tax,they are at home all day,i caught their social workers visiting them from mk council and told them that they are making peoples lives a misery,and that i believe they shouldt be looking after the two children,but all i got from them was call the police or the nspcc.the landlord has links to mk council.he obviously coudt care less about the well being of his nieghbours.i did get the id of one of the social workers,and told her i would hold her responsible i may as well go and move into some crap estate as thats what mk counctl wants to turn our once pleasant block of flats into.i feel like not paying their bloody council tax.

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    Interesting comment on this article, ref: landlord selling up due to Section 24:


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    It may sound drastic but why should any landlord entertain DSS or UC,I would urge to evict them all, don't rent to any of them,it only  supports section 24. Whilst Osbornes punitive tax is collected over the next 4 yrs,every council up and down the country will be screaming at the government for more money as this crisis worsens. This is only the start, they can't cope as it is, it's at bursting point.

    What a complete mess!

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    It is going to get a lot worse

    Many trapped S24 LL will be bankrupted

    There will be a marked reduction in rental properties.

    Many S24 LL will struggle to keep their heads above water

    Many of them will be hoping for further capital growth so they can afford to bail!

    I'd love to know where all the homeless tenants are going.

    However it is not correct to condemn a whole tenant type because of what are in fact just a few wronguns from that tenant class.

    Most HB tenants pay their rent

    There are about 150000 evictions per year

    Most of them for rent arrears

    Not all those evicted are HB tenants.

    It may be that a lot of them are mostly HB tenants

    But that would be pure conjecture so it is hard to determine whether renting to that tenant class is appropriate.

    There are obviously known issues with HB tenants, but that doesn't mean you get rid of all HB tenants

    That makes no economic sense.

    Plus you disenfranchise  a group of tenants because of the actions of a minority of that group.

    Personally I don't take on HB tenants because they do not fit my business model not just because they are HB tenants.

    Were the system to be different then I may consider taking on HB tenants..

    This is unlikely to ever occur so for business reasons alone I decline to accept HB tenants

    That doesn't mean I consider other LL who choose to accept HB tenants, shouldn't!

    Anyone is entitled to operate their business model as they see fit.

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    You do realize that every one of 'them' is an actual person, don't you?  An old person, a sole parent with a child with a disability,  a young family?  Please don't reduce 'them' to political fodder.

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