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King S
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King S
As a landlord with 10 properties last year (now 1), yes some will have planned for down time and some will have scraped to get together the funds to buy a rental property. Not all of them are in the same boat. There were times in my early life when I was scraping the barrel after buying a property and relied on rents being paid on time and not falling into arrears to survive. I did not however plan for unscrupulous tenants playing the system and actively looking to steal from me. Over the past few years the tenants have got worse. Nowadays they are fraudulent with their applications, disrespectful of properties and looking for any reason to not pay rent. Furthermore, you are the first point of call when it comes to their financial difficulties and that is not something that any of us signed up for. Why should be financing a tenants mismanagement of their finances? Just to add with my 10 properties, i didnt have a villa abroad nor a flash car at any point and all through life I have been making sacrifices to get to where I am. Putting the effort in maintaining my investments over having an extravagent or lavish lifestyle! I have personally over the last 12 years lost over 50k to bad tenants where they have resided in my properties and taken the opportunities to get one over on me by not paying rent, damaging properties and even making false claims to the local authority against me. This is something that no landlord should have to live with. The compound effect of all these factors has led me to sell up all of my properties, with the final one going on the market yesterday. It has been a difficult road but at least I have learned not to go back into it again as all the government cares about is helping out criminals!a

From: King S 21 August 2020 12:24 PM

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