You Have To Be Tough To Be A Landlord

Ok, so being a landlord is hardly a profession which requires a degree or other formal qualifications.  We’re not going to save lives with our medical expertise or improve the world with great engineering feats.  However, every day, in our small world, we deal with good tenants, clever tenants, unbelievably daft tenants and downright manipulative, difficult tenants.

Being a landlord and letting agent is a 24/7 profession – you can turn the phone off or not look at your email, but your customers are human and your product can fail or leak outside of the 9-5, Monday to Friday.   This blog was set up as a form of personal therapy to let off steam and encourage would be HMO landlords to think twice.  Faithful to its origin, here’s a rant of the week so far: Continue reading

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Filed under being a landlord, Management of an HMO

So You Want To Run An HMO?

This post has been borne out of the numerous emails I receive from people wanting to leave the day job and invest in property – focussing on HMOs due to their higher yield.  I answer every email honestly and, I hope, encouragingly but my enquirers disappear back into the virtual world and I never hear whether or not they’ve pursued their dreams.

If you’re considering writing to me for advice on ditching the 9-5 and earning enough money through HMOs to keep your family, go travelling and leave a decent nest egg for the kids, below is a typical response: Continue reading

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Filed under being a landlord, Future of HMOs, Management of an HMO

Implementing the Immigration Bill

The phone rings late one night last week.  It’s Erica, sobbing hysterically down the phone in broken English that her new husband, Harry, had been taken into custody and she didn’t know what to do.

Harry and Erica married last month; she’s Polish in her late thirties and he’s Indian in his mid twenties.  She swears to me it’s mad, impulsive, passionate love and he just smiles and nods in agreement.  They’re hard working, quiet, pleasant and an asset to the house and, quite frankly, anyone who can put up with binge drinking Tom and not moan to me about it, becomes a star tenant.

The story goes that Harry and two friends had been walking down the street that night. On spotting a police car, they pulled their hoodies over their heads and dashed into Ladbrokes.  The police watched as the men wandered Continue reading

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Filed under being a landlord, Tenant Stories