Posted on 16/02/2018 09:07
Have decided to start a new thread so not to take over the what your doing discussion.
The question / discussion is the benefit of living in a caravan on a club site and moving every 21 days to living in a brick built solid home.
For me apart from the investment angle is -Holidays away in the van, if you lived in one then it's no longer a mobile holiday home.
What do others think.
2 people like this
Posted on 06/03/2018 08:22 by OneputtRooms in the 1970's and 80's hmm you still haven't told us what the fraught problems were. Did you have planning for a HMO, or did you do it 'under the radar' so to speak?
Posted on 06/03/2018 08:44
So you just had an ad-hoc arrangement with letting out a room or two in your own home, to make extra dosh?
Our daughter rents out one of her houses, she carry's landlord insurance, has a rental agency manage it for a fee, has had no problems and is, after fees etc (but before paying any tax due) making just under a four figure monthly amount. She also gets to vet the tenets, currently she has a policeman and his family living there.
Posted on 06/03/2018 02:18 byI heard on the radio news this afternoon that a number of homes in Sussex and Surrey are without water due to burst pipes and other related problems because of the recent freezing temperatures. So I consider myself fortunate that I have avoided such problems by living in a caravan.
Posted on 06/03/2018 02:24 byRenting out property can also have its problems, Kj. As a landlord, you would be responsible for the maintenance and upkeep of the property and all the expense that goes with it.
Perhaps the best plan, if you really must have a house, would be equity release that would free up the money into cash savings.
Posted on 06/03/2018 11:48
As we can afford both the house and the long holidays, at least meantime, we have no need of equity release, but in general it would not be something we would consider. If we needed the cash we would rather downsize.
Renting out property can sometimes bring a few problems, though in this area I would not expect problem tenants as rents would be pretty high. However, we would never consider renting out our own home as realistically a tenant will rarely be as careful with things as you would be yourself.
When you rent out a property you do need to stop thinking of it as your home, if it was your home, and treat it as a business. Another good reason to downsize if you need the cash.
Remember too that what you were doing was taking in lodgers, sharing your home with them in return for money, it is somewhat different to renting out a complete property.
Posted on 06/03/2018 08:18 byYes, I used to rent out spare rooms to paying guests in the late 70s and early 80s and I remember it being fraught with problems.
Posted on 06/03/2018 12:02
Lodgers have very few rights and problem lodgers are much easier to get rid of than problem tenants, so no need to suffer from problem lodgers in the longer term.
Before becoming a landlord, it is essential to read up on what your rights and obligations would be, and on the rights of your tenants or lodgers.
It is not something to be done on a casual basis.
Posted on 06/03/2018 12:02 by KjellNNLodgers have very few rights and problem lodgers are much easier to get rid of than problem tenants, so no need to suffer from problem lodgers in the longer term.
Before becoming a landlord, it is essential to read up on what your rights and obligations would be, and on the rights of your tenants or lodgers.
It is not something to be done on a casual basis.
Posted on 07/03/2018 01:53
There seem to be all kinds of schemes for people who want to go into this kind of business, such as 'buy to let' etc. but I'm afraid it doesn't appeal to me. I just don't like owning or renting property at all. To me it's just another burden to have to carry which I'd rather not have!
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cariadon
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