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Neil Moores

Property Manager

1485 Profile Views

About Me

Involved in property management for 25 years

my expertise in the industry

brief spell as an estate agent and then a letting agent and then 20 years of hands on property management work

Neil's Recent Activity

Another misleading headline. Female workers do not pay more in rent. They pay a higher percentage of their income in rent. They also pay a higher percentage of their income for a glass of wine, a new bike, or Gym membership etc. etc. but I would be surprised if we saw headlines that female workers pay more for their train fares than male workers or more for a kilo of flour. By all means highlight the gender pay gap but please don't use headlines that are factually incorrect.

From: Neil Moores 23 September 2019 10:25 AM

At last. Common sense

From: Neil Moores 10 September 2019 08:48 AM

I have a very good friend who has about 50 highly geared properties rented out. He built the portfolio by buying and refinancing to create deposits for his next property purchases and intended to keep hold of the portfolio for many years, He employs a maintenance team to keep everything up to and above proper standards. He will pay more in tax than he makes in profit, probably this year and definitely next year. If he sells then the CGT bill is larger than the equity in his property. He says that he is not looking forward to the conversations next year with the tax office when he will be asked why he didn't put some of his income aside to cover his tax bills, and is confident that he will end up speaking to an advisor who wont actually believe that his tax is more than his profit. He will end up bankrupt and homeless in the end, and will struggle to find a property to live in because no-one will want to rent to him with his ruined credit position and their own fears that if he fails to pay then they will face higher costs in chasing the rent than they can recoup due to the fees ban. You couldn't make it up!

From: Neil Moores 08 May 2019 10:00 AM

BREAKING NEWS....REALLY?

From: Neil Moores 06 March 2019 08:51 AM

Of course it make sense but can someone think up some rules and regulations in one go please? Not over a hundred bits and pieces of rules and regulations being thrown at us over a successive governments.

From: Neil Moores 25 January 2019 08:59 AM

This smacks of an heavily edited article with the important bits missing. I am presuming that the Judge balanced the value of the Tenants' losses against money due to the Landlord.

From: Neil Moores 10 December 2018 09:02 AM

Clearly evicting Tenants who are paying their rent regularly and on time would be ridiculous. However Banks are working on percentages. They know that their borrowers are much more likely to get into arrears whilst lending to Housing Benefit Tenants, in part due to the changes in direct payments and Universal Credit, but also due to local councils advising such Tenants to stick it out in their properties when they owe thousands and are being evicted for it, building up Landlords' losses and costs. If the "fault" eviction process was speeded up there would be much less of a problem for landlords, which in turn would make lenders more comfortable, and would even lead to landlords being happy to offer much longer tenancies.

From: Neil Moores 22 November 2018 09:10 AM

This year we took a flat off the market. It is a flat above a shop and the previous tenant had really liked living there because the rent was about 35% under market value. This reflected the lack of a wet central heating system, double glazing and various other matters which increased the cost of living there but not by anywhere near as much as the reduction in rent. We had bought the property a few years ago and have been trying to obtain planning permission to knock down the shop (and therefore the flat) and rebuild something modern and more practical. We are still fighting over planning so the property is sitting empty. A friend of the outgoing tenant desperately wanted to rent it from us as the rent was so cheap. We had to inform her that we were not legally allowed to rent it to her at all, even if the rent was halved, without doing works which would eventually be undone by demolition. I hope she found somewhere. She was very tight on cash and told me that she would prefer to make the decision herself as to whether to rent a cheaper property and be frugal with the fuel, or be forced to pay more rent for a property where she wouldn't have to make that decision but would never be able to afford in the first instance. Food for thought

From: Neil Moores 06 November 2018 08:50 AM

Not a shocker this one. My business partner and I have sold off quite a few properties where the mortgage interest was close to the gross rent as we new the new rules would have us paying more in tax than we made as profit. One unfortunate family had to move their children to a different area and new schools because there was nothing else around. We even offered to loan them 10% of the deposit if they could buy it from us but the lawyers and the lenders all said that this breached mortgage lending rules. Another successful couple of government initiatives in stooping people from staying long term in homes they want to live in!

From: Neil Moores 18 December 2017 17:48 PM

It is exactly these sort of stories that persuaded me, and therefore my clients as well, to deliberately avoid letting to anyone who relies on benefits to pay their rent. I'm sure councils think they are helping people to have accommodation when, in fact, they are doing the opposite.

From: Neil Moores 08 November 2017 09:26 AM

Further to Andrew Ancell's comment. Mortgage valuation fees are paid by the tenant but are done for the benefit of the lender, not the borrower, and I've seen cases where the lender refuses to show the valuation to the buyer so we have to presume that they will be banned too shortly, as will those legal fees which are incurred protecting the interests of the lender too. Don't hold your breath though.....

From: Neil Moores 03 November 2017 10:21 AM

Breaking News