Damp homes, and private tenants

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Nothing wrong with private rentals but it shouldn't be doing the councils job

Someone in my local has a large house in an undesirable part of town. He split it up into flatlets - basically a room with bed/sitting area, kitchenette and phone box sized bathroom. Lets the rooms to housing benefit claimants who would struggle to get anywhere else without a deposit. Charges full whack. It's pretty much his only source of income, but a very good source none the less. Obviously there is occasional aggro with this type of tenant, but it still doesn't seem to stop his golfing, bar propping up or travel activities. Suppose he is doing the council's job by housing people who might otherwise be homeless or in a hostel.
 
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Someone in my local has a large house in an undesirable part of town. He split it up into flatlets - basically a room with bed/sitting area, kitchenette and phone box sized bathroom. Lets the room to housing benefit claimants who would struggle to get anywhere else without a deposit. Charges full whack. It's pretty much his only source of income, but a very good source none the less. Obviously there is occasional aggro with this type of tenant, but it still doesn't seem to stop his golfing, bar propping up or travel activities. Suppose he is doing the council's job by housing people who might otherwise be homeless or in a hostel.
And he can make a living from it. Possibly a few corners cut, who knows

But it's exactly what the council should be doing. Us taxpayers are just paying for his house for him.
 
Someone in my local has a large house in an undesirable part of town. He split it up into flatlets - basically a room with bed/sitting area, kitchenette and phone box sized bathroom. Lets the room to housing benefit claimants who would struggle to get anywhere else without a deposit. Charges full whack. It's pretty much his only source of income, but a very good source none the less. Obviously there is occasional aggro with this type of tenant, but it still doesn't seem to stop his golfing, bar propping up or travel activities. Suppose he is doing the council's job by housing people who might otherwise be homeless or in a hostel.
In the right areas it's a licence to print money. Either splitting larger properties into flats or HMO. I sometimes wish I'd been more business-minded when I got into PRS close to 20 years back, however I didn't and now can't be ar5ed. Also, the heyday of PRS is gone and unlikely to come back.
 
A bit OT but I wish I had the capital to go big. Although it's rarely as straightforward as they make out, on Homes Under the Hammer recently a guy bought a place for around £700k at auction, spent £200k on it so all in for £900k. It was then valued at £1.5 million.

Lovely jubbly ...
 
In the right areas it's a licence to print money. Either splitting larger properties into flats or HMO. I sometimes wish I'd been more business-minded when I got into PRS close to 20 years back, however I didn't and now can't be ar5ed. Also, the heyday of PRS is gone and unlikely to come back.

Yes, he seems to do very well from it. Always going away somewhere nice. Big intitial outlay though, I would imagine. With buying a reasonable sized place and development costs.

PRS?
 
Yes, he seems to do very well from it. Always going away somewhere nice. Big intitial outlay though, I would imagine. With buying a reasonable sized place and development costs.

PRS?
Like many things in life, money makes money. The more you can invest, the greater the rewards. That's the theory anyway!
 
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