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Property Investors Should choose Investment Properties Wisely

Property Investors Should choose Investment Properties Wisely

Property Investors Warned To Choose Potential
Property Purchases Wisely

Savvy property investors know that profit is made when buying property, not when it is sold, as equity can be locked in upon purchasing below market value, giving the property investor greater control of the purchase price by negotiating a deal with the seller, (vendor), rather than what the property eventually sells for on the open market.

Property investors are different from ordinary residential property buyers, as they are of the mindset that the property should meet all the financial requirements of a landlord first & foremost, rather than paying the high end retail price for a property just because it looks nice.

Many new and amateur property investors make the common mistake of falling in love with a property and begin to let their heart rule their head, becoming so emotionally involved that they lose control of their finances and let their emotions win, overspending massively and reducing any potential yield.

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48% Of Tenants Would Like To Withhold Rent Over Repair Delays

48% Of Tenants Would Like To Withhold Rent Over Repair Delays

Tenants wrongly attempt to

blackmail landlords over repairs

Private rental sector tenants are wrongly taking matters into their own hands and attempting to withhold rent from landlords over delays resolving emergencies like heating and electrical faults, according to new research by HomeServe.

The figures show that 1 in 3 PRS tenants have faced emergency repairs over the last 12 months,  with boiler faults and other central heating problems the most common.

Of those, 11% took the wrong action, attempting to withhold rental payments because they claimed that the landlord had taken an unacceptable length of time to deal with the repairs, and 48% of tenant respondents said they would also be willing to withhold rent should the need arise.

  • 1 in 4 problems take landlords more than a week to repair
  • 34% of private tenants have faced a home emergency in the last 12 months
  • 1 in 10 tenants who have had a home emergency withheld rent
  • 1 in 2 tenants would be willing to withhold rent if necessary to expedite repairs

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Tenants Fear Eviction For Reporting Outstanding Repairs

Tenants Fear Eviction For Reporting Outstanding Repairs

PRS Tenants Living In Fear Of
Retaliatory Evictions

A new survey has revealed that some tenants in private rented sector properties are living in fear of eviction because they had dared to complain to the landlord about outstanding repairs.

A third of tenants have been evicted or threatened with eviction after complaining to their landlord, according to new research carried out by online tenant community The Tenants’ Voice.

  • 61% of tenants said they were wary about complaining to their landlords
  • 71% of tenants have paid for repairs themselves rather than ask their landlords.

The survey suggests that a growing number of PRS tenants are facing retaliatory evictions because they voiced concerns over repairs. Desperate, cash strapped landlords have avoided taking out adequate Landlord Insurance policies to protect their rental properties and instead served section 21 notices to bring about the end of a periodic tenancy, rather than undertake the repairs that the tenants have requested, hoping that any new tenant won’t complain as much.

The UK tenant survey found that many tenants worry about asking their landlords to carry out repairs in fear of reprisals.

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