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Therein lies the problem with PSL
The councils don't return the properties in original condition
Invariably it is trashed despite what any inventory states.
Councils say nothing to do with us Guv it was like that when we took over
Getting a council to acknowledge and deal with its responsibilities is harder than getting blood out of a stone! !!
We have some LL on here who advise not to be a PSL LL following their experiences.
Working with councils is very risky
Yes I saw that thread so extra security is required maybe
Take a 10K deposit
Jonathan Clarke. http://www.buytoletmk.com
Do you reckon many councils if any would offer a £10000 deposit!?
They hate private LL
They won't do anything to help LL even though it helps the council.
Can't see any council offering any assistance to LL and definitely not anywhere near what you suggest
I agree it wont happen - well not in my lifetime - but it could / would if they were willing and open
But they are for now a closed book - That book will only open if public pressure or political ambition shifts
The culture shift at the moment for them would be so great it will take a generation to come about
But public private partnerships ( PPP`s ) do exist all over the place
My current PPP`s with them are very crude, basic, ad hoc, weak haphazard amateurish
They piggy back onto my asset which saves them having to build and maintain their own asset base
It has advantages for both . They save a 200K outlay I get yield capital growth and security finance
£1450 has dropped into my account today That`s a form of PPP
The PPP deal is that I submit a form and they fund the rent and deposit up front for a low wage worker
In return I give the low wage worker a house for 6 mths so the state doesnt have to
Thats the end of this PPP its a one off instant arrangement
Other more involved PPP `s I have with them are when they fund not only rent in advance and the deposit but also pay off the arrears and pay DHP top ups on LHA for 12 mths
In return I give up my house for a 12 mth period so the state doesnt have to physically house them
After 12 mths our PPP ends unless its renewed
So that has happened with me about 5 times or so since HB caps came on the scene
I got 2K up front and 5K arrears from DHP . This PPP enabled the state not having to house a family of 6
All my LHA direct is an ongoing form of PPP - it sometimes works well - sometimes it doesnt
I can envisage in the future a board meeting when we mutually iron out the problems of our PPP
I make demands as do they. We negotiate and then sign a PPP
But we are poles away from that at the moment because they dont want it and are intransigent
UC is a backward step away from a PPP as there is less to connect us now
UC offers me no incentive to PPP with the government hence I stop taking UC
And i dont see another private body taking up the UC tenants any time soon
So UC wont survive in its present form so something will have to change
If the PRS was better organised and managed and under one roof then a PPP with UC could flourish
But we are only 20 years old and still a ramshackle bunch of oddities
The government is 100`s of years old but is a better orgainised ramshackle bunch of oddities
So they muddled along better than us and have power and influence over us so dictate proceedings
A government minister wants to deal with an identifiable body with a spokesperson . They are busy people
They want a PRS CEO to wine and dine and do a backroom deal before selling it to their respective followers
The time and effort to deal with the likes of even FW and his 1000 properties in his hey day is too difficult
And FW is too much of a wild child so progressive dialogue is limited
They want someone authoritative who speaks with one voice for 2 million LL`s and we are a long way away from that
So in another 20 years time the 1 million LL`s left after the 2015 S24 cull may form a recognised body
All the big players like PT 118 RLA NLA etc etc would njeed to unite and we would sign up
The PRS would become someone the government can now deal with as they represent the vast majority
But for now we are in a bloody war.
Our equivalent to the miners Battle of Orgreave was our judicial review which failed
But the abject failure of UC will be our rear guard action.
As we retreat it will be the tenants that will be our voice
It will be the likes of Shelter Crisis Centrepoint Emmaus who will come to our aid
They like us need to unite against the cruel government
Then together as the Salvation Army we will rise again
With a Common Purpose and Common Sense we will prevail
I totally agree with your sentiments and the logicality of your offer is overwhelming.
Now your PPP which makes eminent sense is regarded by all the usual LL haters as being paid lots of Govt funds to pay your mortgage.
That is how the narrow minded socialists see you.
They seem to forget that had you not provided a property to rent then there wouldn't have been a LL to pay any HB to and therefore the tenant would be homeless.
Without your mortgage which has to be paid by someone there would be no rental property for any PPP.
Of course all this is coded language for resenting the fact that if there was sufficient social housing the State wouldn't have to find money to pay a greedy LL mortgage and would have to pay less HB due to the taxpayer subsidising social rents.
Well it isn't the private LL fault that 2 million council properties have been sold and mass uncontrolled immigration has been allowed!
Rather than accepting we are where we are and that at least LL have bothered to take on homeless tenants the view persists that LL are receiving billions in State aid to pay their mortgages.
It is impossible to get into the LL haters heads that without LL having mortgages there wouldn't be so many rental properties and consequently many homeless
None of the tenants would be able to buy any of the LL properties otherwise they would have done so when the LL was buying.
The haters do not see the relationship you have with a HB tenant as anything other than greedy and avaricious one with the State subsidising your investments.
We all know that is complete and utter rubbish.
But it is this persistent and incorrect propaganda which infests the neo liberal media establishment which has lead to S24 etc.
Even Shelter agrees with S24 which by implication must and will reduce the supply of rental accommodation.
Their twisted thinking defies belief!
The councils want to have your facilities at the cheapest cost it can get away with and regards that it is doing you a favour if it passes onto you their wrongun homeless tenants.
They know these tenants will default and cause destruction
But they need a mug like you to take on their wrongun tenants as keeping them in TA costs a fortune.
They know that thanks to the eviction process they can palm off their robbing homeless tenants to a LL who will take at least 7 months to evict and before it becomes a council problem again.
Councils think they are doing you a favour and consider you should be grateful for being paid to take on their wrongun tenants.
Even the Tories now view you with great disdain.
You are considered bizarrely to be part of the housing problem rather than any sort of solution
You really couldn't make it up!!
Councils shouldn't be surprised when LL like you decide to withdraw from any PPP when the income is insufficient from HB.
The fact that many councils are now attempting to encourage LL to house their homeless beggars belief.
LL are rightly and logically rejecting the entreaties of these Councils.
Such LL have realised there are bigger fish to fry.
Ones that pay more rent and don't cause the hassle that feckless HB tenants do.
LL like you are reacting logically to changed business dynamics
Why would councils consider that LL would stay with the status quo.?
It wouldn't and doesn't make any business sense!
So whilst you are currently wanted which is still thoroughly resented they don't want to pay you the going rate.
They seem to think you should use your private capital to provide an alternative to social housing with the council having none of the costs for the upkeep of such apart from paying a very poor price for their tenants to live in it.
What planet are these Councils on that believe a LL would continue with such provision when assailed by myriad new cost burdens with the most iniquitous being S24; supported by Shelter etc!!!!??
Best thing you can do is wash your hands of them and their whole rotten processes and let to proper tenants who use their own money to pay to be housed rather than the State's and don't cause as half as many problems .
You are effectively using your business acumen to move away from a sector which fir your business has become increasingly dysfunctional.
It would be strange if you didn't behave as you are!!
As an astute LL you have followed a logical path away from the HB sector
Why anyone would be surprised at such a response greatly surprises me.
Govt and councils have lost the plot and now they will be losing billions in very expensive TA costs.
They are economic minnows who can't work out what to the village idiot should be the correct response to the situation that they are causing.
Of course one feels sorry for the real victims here of this whole situation. ......... the tenants.
It isn't their fault!
But the way issues are not being dealt with has caused a breakdown of that once fairly effective PPP.
So now none of the parties involved are satisfied.
Best thing LL can do is get out of Dodge and leave the other remaining parties to stew in their own juice.
It will be long long time; if ever before LL will be persuaded to return to Dodge!!
To entice you to return it would have to be a pretty compelling offer and that is unlikely to occur anytime soon.
One thing in your favour is proper tenants are moving out of London
As you have expressed correctly on many occasions the MK PRS is ideally suited to welcome to MK the tenants from London.
Seeing the concrete cows will be the first sign of wildlife that many of these London tenants will have seen! !
It isn't just homebuyers who are giving up on London
The tipping point for tenants has been reached.
A quick 35 minute train journey to MK and you are away from the rat race
I'm surprised it has taken this long for London tenants to realise that they really don't need to live in an expensively rented box room.
At least they will be able to see the light in MK etc unlike their gloomy London box room!!
Once the council has lost you it won't be easy to entice you to return.
You have been there; seen it and done it and I hazard a guess you won't feel inclined to return to a sector where you are begrudgingly tolerated because you are actually needed.
Hardly an attractive proposition for you when you have better offers elsewhere!
The days of a PPP for you are over
You have been the victim of contemptuous behaviour by councils etc
Why would you wish to continue with such circumstances!?
The HB sector will have lost a highly empathetic LL who is highly unlikely to ever return.
So a big loss if multiplied further by other HB LL that have come to the same determinations as you.
But these councils etc have brought it on themselves
How long before they see the light!?
I doubt they will ever manage to so entrenched are their anti -private LL views.
Oh! Well tough luck HB tenants things are gonna get a lot worse for you!!
18 years ago I saw HB tenants struggle and at the same time a business opportunity
5% of me wanted to do my bit to help the strugglers of life but 95% of me wanted to build a portfolio
HB renters and low cost ex LA properties offered me to combine both goals and I got to work
The extra effort to deal with the paperwork I saw as partially a business decision but partly to give vulnerable people a leg up to start afresh where others would walk on by. I`m good at sorting out other peoples s**t so didnt mind taking people out of hostels / prisons / cars / streets / tents . I had good friend from my class at school with exactly the same opportunities as me but he got caught by the demon drink and drugs. He was in a mental mess but underneath he was good and true He spent a year in rehab and eventually sorted himself .
So The business was good and it also gave me personal satisfaction..
The unspoken unsigned ad hoc PPP was never great but we muddled through
Then the government stuffed me . They Sec 24 me. They LHA froze me. They HB capped me
They knew what they were doing .
£750 pcm rents down to £2 pcm due to HB Cap .
But at least its direct I smiled defiantly as i lay on the ground bruised from their kicking
But that wasnt enough . They wanted more blood . So now they have UC`d me below the belt
£650 rents for 2 years to me direct under LHA down now to £0 under UC for 4 mths.running. Shambles
I have a growing sympathy now for the councils . I met with them the other day . They hang their heads with shame
They are the poor foot soldiers picking up the generals mad orders
In the corridors where the microphones are not on they slate the government
Whichever side of the political spectrum they come from they see an unworkable UC system full of flaws
Their workload has trebled they go off sick . Sec 21`s are piling in on their desk.
Response time to my e mails are down by 300% when I chase them with a query as to why i havent been paid
Strangely response time up 300% when I ask for rent and deposits up front and say i have a place
They cant reply quick enough then
The irony is I had one said they were on the brink of despair couldn't cope and wanted to leave
Wondered if I had a place to rent and they would go on PIP
I would have taken them in the past but with UC structured the way it is I will have to say sorry
I hope IDS reads this and recognises the damage he has done
He tried his best I`m sure but it wasnt good enough
The sign of a true man is to hold his hands up say Sorry and start again
Get a workable PPP together and we can be friends again. We all make mistakes
UC is an admirable attempt to overhaul the dysfunctional welfare system which has grown up ad hoc since 1948.
It's heart is in the right place it is just the mechanics which haven't been worked out logically.
The major failing with UC is the OBC is calculated with the the rent being the last payment to be calculated which of course gets you your vast £2 pcm rent!!!!
As a former civil servant it would have been obvious to even me that the first payment to be deducted from the OBC was the HB.
All other benefits are then calculated
If that means that the amount of child benefit works out at £2pcm then the tenant knows why
They are renting in a too expensive area!!
By calculating HB first it impresses on the tenant how much their lifestyle spending is reduced by choosing to live in an expensive area.
It should therefore be obvious to even the simplest UC claimant that to recover their full lifestyle benefit spending money they will need to move to where the rent is cheaper and doesn't take them past the OBC.
Effectively the UC claimant has to make a decision to ECONOMICALLY cleanse themselves to a cheaper rental area!
Of course all this could be avoided if these UC claimants did at least 16 hrs work a week.
But they can't even be bothered to do that and moan about needing food banks when it is them causing the situation cos they are just bone idle.
Any fool can stand on a street corner selling the Big Issue for two days at 8 hrs per day.
That is regarded as employment.
You are now exempt from the OBC and can continue with your feckless welfare lifestyle in expensive cities like London.
This is a sacrifice certain EU nationals have sussed and they have no issues with selling the BI for 2 days a week.
Then they are OBC exempt! !