| Any property experts on here? 14:41 - Sep 20 with 7792 views | nodge_blue |
I inherited my mums little bungalow in Bradwell when she died and for the last 10 years Ive been renting it out. Not because I particularly wanted to be a landlord, but it seemed one of the two options.
But in February I realised the disrepair it was in (because the tenant hadn't told me they had broken kitchen units and the wooden conservatory was rotting). I decided to sell it. I repaired the kitchen and did enough to the conservatory to at least make it sound again.
But despite the estate agents initial optimism etc it hasn't sold. Well it did once but then the buyer pulled out with a week to go.
So Ive dropped the price a lot now. But it's still not selling. Im paying council tax on it and next year Ive been told it will be double as it would be viewed as a second house holiday home! So that would be 3.5k a year on a bungalow in Bradwell that clearly isn't a nice holiday home in North Norfolk.
And now the Times said at the weekend that CGT could be applied at the October budget, so that the bungalow is dated back not to when I inherited it, but to when my mum initially bought it. So basically I could end up paying about 60k tax on a house worth 180k.
So Im totally fed up.
Is it worth me just putting it into an auction and try and sell it in October - before the budget? Im not even sure if that's possible. I think that a sale at auction is legally binding, but Im I have to say that Im not sure the contacts are exchanged there and then - so I still might miss end of October.
Anyone got a feel for how much you get at auction v selling on the high street?
I might end up renting it out again, even though I just don't want that responsibility of maintaining two homes anymore. This is currently making me wake up at night.
Any thoughts? [Post edited 20 Sep 2024 14:46]
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| Any property experts on here? on 14:54 - Sep 20 with 5138 views | mutters |
A few thoughts (but please do your own research).
Was any CGT paid when it was transferred into your name at the time of your mums passing?
I am led to believe that when a property is transferred during probate the price that it is assessable for CGT is reset to that level, so in this case it would be back to when your mum passed. That is due to at that point it became an investment property rather than a home.
At the moment houses are weird. We've just sold my mum's house, which is a lovely location in Felixstowe and it's taken nearly 18 months. She accepted an offer about 7% below the listing price, just to move on and find her somewhere more suitable.
I know that they were proposing to raise the CT for second homes in Wales, I didn't realise that it would be in England as well?
We've also sold two properties via auction, and I will say be prepared to take a hit. Unless there are multiple bidders then people want bargains. Esp if there is work to be done. You will get a quick sale, but the price will be lower than you may hope for.
Personally if it is generating an income I would be tempted to keep it and get the estate agent to property manage it for you, so all you have to deal with is their fees and repairs. However it sounds like the property needs some money spent on it, so you could always look to release some of the equity via a BTL Mortgage if you don't have the funds kicking around. |  |
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| Any property experts on here? on 15:15 - Sep 20 with 5061 views | DJR |
| Any property experts on here? on 14:54 - Sep 20 by mutters |
A few thoughts (but please do your own research).
Was any CGT paid when it was transferred into your name at the time of your mums passing?
I am led to believe that when a property is transferred during probate the price that it is assessable for CGT is reset to that level, so in this case it would be back to when your mum passed. That is due to at that point it became an investment property rather than a home.
At the moment houses are weird. We've just sold my mum's house, which is a lovely location in Felixstowe and it's taken nearly 18 months. She accepted an offer about 7% below the listing price, just to move on and find her somewhere more suitable.
I know that they were proposing to raise the CT for second homes in Wales, I didn't realise that it would be in England as well?
We've also sold two properties via auction, and I will say be prepared to take a hit. Unless there are multiple bidders then people want bargains. Esp if there is work to be done. You will get a quick sale, but the price will be lower than you may hope for.
Personally if it is generating an income I would be tempted to keep it and get the estate agent to property manage it for you, so all you have to deal with is their fees and repairs. However it sounds like the property needs some money spent on it, so you could always look to release some of the equity via a BTL Mortgage if you don't have the funds kicking around. |
Edit: reply to wrong post. [Post edited 20 Sep 2024 15:16]
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| Any property experts on here? on 15:16 - Sep 20 with 5043 views | DJR |
"And now the Times said at the weekend that CGT could be applied at the October budget, so that the bungalow is dated back not to when I inherited it, but to when my mum initially bought it. So basically I could end up paying about 60k tax on a house worth 180k."
I can't see this happening because it appears to go against the principles of CGT because it would effectively mean the property was taxed for the increase in value that occurred when she owned it as her home, when it would have been exempt from CGT. And if she had bought it in, say, the 1950s the original value might be only in the thousands.
More likely is an increase in the rate of CGT but I can't see the rates being equalised with income tax. And limiting agricultural or entrepreneurial relief may be even more likely.
Personally, I wouldn't rush into things because you probably wouldn't get much at an auction, and there is always the maxim "more haste, less speed". [Post edited 20 Sep 2024 15:19]
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| Any property experts on here? on 15:16 - Sep 20 with 5043 views | Zx1988 |
Regarding the current attempts to sell the property, has the agent been able to give you any steer as to why it may be struggling to sell (other than 'it's probably over-priced, let's knock another £10k off')? If they can't give you any satisfactory answers, I'd recommend maybe speaking with other agents to ascertain their thoughts, and whether they feel that they could do a better job.
Are your current agents getting no interest whatsoever, or are you getting a number of viewings that aren't proceeding to offers? If it's the latter, are you getting any feedback from the viewings?
Having looked on Rightmove, if it's the property I think it is then it looks in pretty good nick and an auction probably wouldn't be your best bet. The nature of auctions means that they're very much the preserve of cash buyers, who would expect a discount for their position. Likewise, the price achieved will also reflect the fact that there are fees etc., to be paid on top of the hammer price.
Often there's value to be had in selling a fixer-upper at auction, but if the property is mortgageable and readily saleable by private treaty then you'll achieve a lower value at auction than you would through a traditional sale (although you may see that as an acceptable trade-off in return for a guaranteed and fairly rapid sale).
If you were to go back to renting out the property (assuming you hadn't done previously) might it be worth considering a fully-managed package through a reputable agent? It'll likely cost between 8% and 12% of the monthly rent, but it will take all of the maintenance worries off your shoulders. |  |
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| Any property experts on here? on 15:21 - Sep 20 with 4970 views | nodge_blue |
| Any property experts on here? on 14:54 - Sep 20 by mutters |
A few thoughts (but please do your own research).
Was any CGT paid when it was transferred into your name at the time of your mums passing?
I am led to believe that when a property is transferred during probate the price that it is assessable for CGT is reset to that level, so in this case it would be back to when your mum passed. That is due to at that point it became an investment property rather than a home.
At the moment houses are weird. We've just sold my mum's house, which is a lovely location in Felixstowe and it's taken nearly 18 months. She accepted an offer about 7% below the listing price, just to move on and find her somewhere more suitable.
I know that they were proposing to raise the CT for second homes in Wales, I didn't realise that it would be in England as well?
We've also sold two properties via auction, and I will say be prepared to take a hit. Unless there are multiple bidders then people want bargains. Esp if there is work to be done. You will get a quick sale, but the price will be lower than you may hope for.
Personally if it is generating an income I would be tempted to keep it and get the estate agent to property manage it for you, so all you have to deal with is their fees and repairs. However it sounds like the property needs some money spent on it, so you could always look to release some of the equity via a BTL Mortgage if you don't have the funds kicking around. |
At probate time its assessed for IHT. And then when you sell it, its assessed again for CGT.
So a house worth alot I believe ends up getting taxed twice.
Ive pretty much done the repairs. My main concern is that the wooden conservatory in another 5 or 10 years will need replacing completely.
I may have to just carry on renting it at this rate, even though its not what i wanted. | |
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| Any property experts on here? on 15:24 - Sep 20 with 4933 views | TractorWood |
| Any property experts on here? on 15:16 - Sep 20 by Zx1988 |
Regarding the current attempts to sell the property, has the agent been able to give you any steer as to why it may be struggling to sell (other than 'it's probably over-priced, let's knock another £10k off')? If they can't give you any satisfactory answers, I'd recommend maybe speaking with other agents to ascertain their thoughts, and whether they feel that they could do a better job.
Are your current agents getting no interest whatsoever, or are you getting a number of viewings that aren't proceeding to offers? If it's the latter, are you getting any feedback from the viewings?
Having looked on Rightmove, if it's the property I think it is then it looks in pretty good nick and an auction probably wouldn't be your best bet. The nature of auctions means that they're very much the preserve of cash buyers, who would expect a discount for their position. Likewise, the price achieved will also reflect the fact that there are fees etc., to be paid on top of the hammer price.
Often there's value to be had in selling a fixer-upper at auction, but if the property is mortgageable and readily saleable by private treaty then you'll achieve a lower value at auction than you would through a traditional sale (although you may see that as an acceptable trade-off in return for a guaranteed and fairly rapid sale).
If you were to go back to renting out the property (assuming you hadn't done previously) might it be worth considering a fully-managed package through a reputable agent? It'll likely cost between 8% and 12% of the monthly rent, but it will take all of the maintenance worries off your shoulders. |
The auction route may help secure the chargeable gain sooner at 20%. If the new budget comes out with gains post budget taxed at 30% it's probably material consideration.
These are obviously just musings but auction with a reserve at least gives you the option of control and certainty. Leaving it on the market exposes you to a new Gov who have made it clear CGT reform is a priority. Others are doing the same, anecdotally. |  |
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| Any property experts on here? on 15:29 - Sep 20 with 4869 views | bluelagos |
Am wondering where your 60k comes from?
As you said the house is worth 180k am wondering if that could be the gain which is then taxable in the form of CGT?
If so you would pay a % (18 or 24% I think dependent on your income) on the gain - so the bill would be around £11k if you have a 60k gain if you are a standard rate tax payer.
You can use this to get a far better estimate - include the selling costs as these reduce the gain too. Only payable when you sell it.
https://www.gov.uk/tax-sell-property/work-out-your-gain
**Retired accountant - well worth speaking to an existing accountant if you want accurate advice and help with your returns. [Post edited 20 Sep 2024 15:35]
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| Any property experts on here? on 15:30 - Sep 20 with 4858 views | nodge_blue |
| Any property experts on here? on 15:16 - Sep 20 by Zx1988 |
Regarding the current attempts to sell the property, has the agent been able to give you any steer as to why it may be struggling to sell (other than 'it's probably over-priced, let's knock another £10k off')? If they can't give you any satisfactory answers, I'd recommend maybe speaking with other agents to ascertain their thoughts, and whether they feel that they could do a better job.
Are your current agents getting no interest whatsoever, or are you getting a number of viewings that aren't proceeding to offers? If it's the latter, are you getting any feedback from the viewings?
Having looked on Rightmove, if it's the property I think it is then it looks in pretty good nick and an auction probably wouldn't be your best bet. The nature of auctions means that they're very much the preserve of cash buyers, who would expect a discount for their position. Likewise, the price achieved will also reflect the fact that there are fees etc., to be paid on top of the hammer price.
Often there's value to be had in selling a fixer-upper at auction, but if the property is mortgageable and readily saleable by private treaty then you'll achieve a lower value at auction than you would through a traditional sale (although you may see that as an acceptable trade-off in return for a guaranteed and fairly rapid sale).
If you were to go back to renting out the property (assuming you hadn't done previously) might it be worth considering a fully-managed package through a reputable agent? It'll likely cost between 8% and 12% of the monthly rent, but it will take all of the maintenance worries off your shoulders. |
https://www.rightmove.co.uk/properties/145011668?utm_campaign=property-details&a
This one....Phil will love the fcat ive turned his site into property adverts...
It is in decent condition. The only issue with it i think is to access the conservatory you have to walk through a bedroom.
But a modern bungalow at a good price.
I did used to rent it through the same estate agents and pay that fee. I was annoyed really that their yearly report didnt pick up this obvious stuff.
I hate renting it now. The garden looks a mess most of the time, the walls all need repainting really. I dont expect alot of sympathy for landlords but its a liability for not a huge amount of income. Id get more in interest from a bank account. | |
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| Any property experts on here? on 15:32 - Sep 20 with 4819 views | bluefunk |
When you inherited the house, there will have been a value assessed for probate purposes. That is the value at which you inherited it and CGT is only payable by you on any profit above that figure, less your own annual CGT allowance.
Can’t help with the property market stuff but that’s your tax position. Labour are rumoured to be equalising CGT with income tax rates, but there’s no detail, obviously. CGT rates are currently 18% or 24% on residential properties (that are not your main residence) depending on your own income tax situation, equalising them would probably mean 20/40% rates, and given the way it’s calculated 40% is likely.
Hope that helps |  | | |
| Any property experts on here? on 15:37 - Sep 20 with 4765 views | nodge_blue |
| Any property experts on here? on 15:29 - Sep 20 by bluelagos |
Am wondering where your 60k comes from?
As you said the house is worth 180k am wondering if that could be the gain which is then taxable in the form of CGT?
If so you would pay a % (18 or 24% I think dependent on your income) on the gain - so the bill would be around £11k if you have a 60k gain if you are a standard rate tax payer.
You can use this to get a far better estimate - include the selling costs as these reduce the gain too. Only payable when you sell it.
https://www.gov.uk/tax-sell-property/work-out-your-gain
**Retired accountant - well worth speaking to an existing accountant if you want accurate advice and help with your returns. [Post edited 20 Sep 2024 15:35]
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So the times article said that the amount of gain is 180k minus what mum paid which was about 40k. = 120k.
And second homes get treated for a higher rate of CGT. And that the amount of 120k would be treated as income and put me into the 40 tax bracket. But the rate is slightly higher thab that at about 45% for CGt second homes.
I dont know. The times could be wrong of course. I had been expecting an amount similar to what you wrote based on the gain being from probate. Which makes sense to me still. | |
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| Any property experts on here? on 15:43 - Sep 20 with 4718 views | bluelagos |
| Any property experts on here? on 15:37 - Sep 20 by nodge_blue |
So the times article said that the amount of gain is 180k minus what mum paid which was about 40k. = 120k.
And second homes get treated for a higher rate of CGT. And that the amount of 120k would be treated as income and put me into the 40 tax bracket. But the rate is slightly higher thab that at about 45% for CGt second homes.
I dont know. The times could be wrong of course. I had been expecting an amount similar to what you wrote based on the gain being from probate. Which makes sense to me still. |
So at the point of probate - the house would have been valued then. So that is your starting point - not what your mum paid.
The rates are defo 18 and 24% for Capital gains on properties - you can google it but they are right.
Defo put yer numbers through the govt website (and use the house value when your mum passed away) - and defo get some proper advice from an active accountant!
If you pay way too much - be amazed if HMRC spot the error! | |
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| Any property experts on here? on 15:44 - Sep 20 with 4703 views | DJR |
| Any property experts on here? on 15:37 - Sep 20 by nodge_blue |
So the times article said that the amount of gain is 180k minus what mum paid which was about 40k. = 120k.
And second homes get treated for a higher rate of CGT. And that the amount of 120k would be treated as income and put me into the 40 tax bracket. But the rate is slightly higher thab that at about 45% for CGt second homes.
I dont know. The times could be wrong of course. I had been expecting an amount similar to what you wrote based on the gain being from probate. Which makes sense to me still. |
As I said above, I don't believe the government will do what the Times suggest because it seems to go against the principles of CGT, especially as the inheritance tax regime is in place to effectively wipe the slate clean when someone dies.
But leaving that aside, this suggests the auction process takes a fair bit of time.
https://www.homesellingexpert.co.uk/guides/how-long-to-sell-at-auction [Post edited 20 Sep 2024 15:45]
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| Any property experts on here? on 15:52 - Sep 20 with 4609 views | Daninthecampo |
IHT would've been applied upon inheriting the property.
Once you became the legal owner the clock would then start for any potential future gains and CGT would be applied | | | |
| Any property experts on here? on 15:53 - Sep 20 with 4582 views | nodge_blue |
| Any property experts on here? on 15:44 - Sep 20 by DJR |
As I said above, I don't believe the government will do what the Times suggest because it seems to go against the principles of CGT, especially as the inheritance tax regime is in place to effectively wipe the slate clean when someone dies.
But leaving that aside, this suggests the auction process takes a fair bit of time.
https://www.homesellingexpert.co.uk/guides/how-long-to-sell-at-auction [Post edited 20 Sep 2024 15:45]
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Thanks for that. Interesting that theres now traditional and modern auctions. But either way it seems unlikely im going to get that done by the end of October.
I almost couldnt believe the times article. I was thinking where have you got this leak from? Cant be true....
I just need to chill out really and accept i may have to rent it out again. | |
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| Any property experts on here? on 15:58 - Sep 20 with 4530 views | DJR |
| Any property experts on here? on 15:53 - Sep 20 by nodge_blue |
Thanks for that. Interesting that theres now traditional and modern auctions. But either way it seems unlikely im going to get that done by the end of October.
I almost couldnt believe the times article. I was thinking where have you got this leak from? Cant be true....
I just need to chill out really and accept i may have to rent it out again. |
I may be wrong on the second, but it seems to me that there are two things going on here.
the right wing press trying to make anti-Labour political capital out of the situation
financial advisers and the like trying to stir up pre-Budget business
[Post edited 20 Sep 2024 15:59]
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| Any property experts on here? on 16:03 - Sep 20 with 4476 views | nodge_blue |
| Any property experts on here? on 15:58 - Sep 20 by DJR |
I may be wrong on the second, but it seems to me that there are two things going on here.
the right wing press trying to make anti-Labour political capital out of the situation
financial advisers and the like trying to stir up pre-Budget business
[Post edited 20 Sep 2024 15:59]
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Yeah, although the times did come out in favour of Starmer at the election and since then theres been a couple of big political articles in it giving Labour a platform. So it makes me wonder if Labour are using it as such or putting bits out to journalists. [Post edited 20 Sep 2024 16:03]
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| Any property experts on here? on 16:04 - Sep 20 with 4461 views | Zx1988 |
| Any property experts on here? on 15:30 - Sep 20 by nodge_blue |
https://www.rightmove.co.uk/properties/145011668?utm_campaign=property-details&a
This one....Phil will love the fcat ive turned his site into property adverts...
It is in decent condition. The only issue with it i think is to access the conservatory you have to walk through a bedroom.
But a modern bungalow at a good price.
I did used to rent it through the same estate agents and pay that fee. I was annoyed really that their yearly report didnt pick up this obvious stuff.
I hate renting it now. The garden looks a mess most of the time, the walls all need repainting really. I dont expect alot of sympathy for landlords but its a liability for not a huge amount of income. Id get more in interest from a bank account. |
Yes, that's the one I thought it was.
The listing is good but not great. If it was me, the lack of a floorplan would put me off, especially as 99.9% of sales listings have them these days. Although, on the other hand, perhaps the agent thinks that the conservatory access is a minus-point, and doesn't want to reveal it too early on in the process?
I'd definitely be putting the agent's feet to the fire on this one, and demanding more in-depth answers about the lack of a sale than 'well, it's a tough market at the moment'. Are you locked in to a sole-agency agreement, or are you free to switch? | |
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| Any property experts on here? on 16:13 - Sep 20 with 4396 views | nodge_blue |
| Any property experts on here? on 15:43 - Sep 20 by bluelagos |
So at the point of probate - the house would have been valued then. So that is your starting point - not what your mum paid.
The rates are defo 18 and 24% for Capital gains on properties - you can google it but they are right.
Defo put yer numbers through the govt website (and use the house value when your mum passed away) - and defo get some proper advice from an active accountant!
If you pay way too much - be amazed if HMRC spot the error! |
I agree thats where we are.....its the rumoured changes in the October budget thats my concern.... | |
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| Any property experts on here? on 16:21 - Sep 20 with 4342 views | bluelagos |
| Any property experts on here? on 16:13 - Sep 20 by nodge_blue |
I agree thats where we are.....its the rumoured changes in the October budget thats my concern.... |
One other thing to consider - it is very unlikely any changes would be retrospective.
So if say they increased the CGT rates from 18% to 30% on property for basic rate tax payers - that higher rate would likely only apply on any future gains - with existing gains charged at the current CGT rates.
Will be a dogs dinner working it out - but there would basically be 2 elements - the gain to the change (charged at 18%) and the gain from the change date, at the new higher rate. | |
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| Any property experts on here? on 16:21 - Sep 20 with 4332 views | nodge_blue |
| Any property experts on here? on 16:04 - Sep 20 by Zx1988 |
Yes, that's the one I thought it was.
The listing is good but not great. If it was me, the lack of a floorplan would put me off, especially as 99.9% of sales listings have them these days. Although, on the other hand, perhaps the agent thinks that the conservatory access is a minus-point, and doesn't want to reveal it too early on in the process?
I'd definitely be putting the agent's feet to the fire on this one, and demanding more in-depth answers about the lack of a sale than 'well, it's a tough market at the moment'. Are you locked in to a sole-agency agreement, or are you free to switch? |
Thanks for that. All good comments. Im not tied into them now due to the length of time. I have felt a loyalty to them as a local family business that have been good with me.
But i have had alot of its a tough market. They told me i wouldn't have another conversation about price after i dropped it to 210k. And now here i al at 180!
I was quite chilled about it all initially but as the months go by and the bills keep coming in ive started waking up in the night thinking about it. Crazy really. | |
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| Any property experts on here? on 16:24 - Sep 20 with 4303 views | mellowblue |
| Any property experts on here? on 16:04 - Sep 20 by Zx1988 |
Yes, that's the one I thought it was.
The listing is good but not great. If it was me, the lack of a floorplan would put me off, especially as 99.9% of sales listings have them these days. Although, on the other hand, perhaps the agent thinks that the conservatory access is a minus-point, and doesn't want to reveal it too early on in the process?
I'd definitely be putting the agent's feet to the fire on this one, and demanding more in-depth answers about the lack of a sale than 'well, it's a tough market at the moment'. Are you locked in to a sole-agency agreement, or are you free to switch? |
I agree about the floor plan, first thing after photos that I look at. I would also tart up the exterior wood stain as first impressions matter. I don't think the photos are that professional looking and are a bit stingy in quantity, needs shots of the front door area externally and garage as well as second bedroom. But overall looks a neat little bungalow. | | | |
| Any property experts on here? on 16:34 - Sep 20 with 4253 views | nodge_blue |
| Any property experts on here? on 16:24 - Sep 20 by mellowblue |
I agree about the floor plan, first thing after photos that I look at. I would also tart up the exterior wood stain as first impressions matter. I don't think the photos are that professional looking and are a bit stingy in quantity, needs shots of the front door area externally and garage as well as second bedroom. But overall looks a neat little bungalow. |
Thats partly cos the garage door needs painting lol.
But thanks...yours for a decent offer!
And thanks to all for your comments. Ive appreciated them. | |
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| Any property experts on here? on 16:43 - Sep 20 with 4216 views | Zx1988 |
| Any property experts on here? on 16:21 - Sep 20 by nodge_blue |
Thanks for that. All good comments. Im not tied into them now due to the length of time. I have felt a loyalty to them as a local family business that have been good with me.
But i have had alot of its a tough market. They told me i wouldn't have another conversation about price after i dropped it to 210k. And now here i al at 180!
I was quite chilled about it all initially but as the months go by and the bills keep coming in ive started waking up in the night thinking about it. Crazy really. |
It might be worth having a chat with one of the more 'modern' agents in the area such as Minors & Brady; they seem (for whatever reason) to have good form for getting decent money for properties. I've also seen them starting to use AI staging for empty properties recently, which may add a certain something to your listing.
It's the first four weeks or so that are key when it comes to selling a property, so it's crucial to get the marketing right from the get go - listing, price, photographs etc., Once a property has been sat there for a while, with a few price reductions, it starts to get a bit of a stigma attached (rightly or wrongly).
Paul Hubbard down in Lowestoft also tend to do quite well, and a good number of the bungalows I value/survey often seem to be on with Aldreds for some reason, so one of the three may be able to give the place a bit of a boost if you do consider starting the process afresh. | |
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| Any property experts on here? on 16:55 - Sep 20 with 4161 views | nodge_blue |
| Any property experts on here? on 16:43 - Sep 20 by Zx1988 |
It might be worth having a chat with one of the more 'modern' agents in the area such as Minors & Brady; they seem (for whatever reason) to have good form for getting decent money for properties. I've also seen them starting to use AI staging for empty properties recently, which may add a certain something to your listing.
It's the first four weeks or so that are key when it comes to selling a property, so it's crucial to get the marketing right from the get go - listing, price, photographs etc., Once a property has been sat there for a while, with a few price reductions, it starts to get a bit of a stigma attached (rightly or wrongly).
Paul Hubbard down in Lowestoft also tend to do quite well, and a good number of the bungalows I value/survey often seem to be on with Aldreds for some reason, so one of the three may be able to give the place a bit of a boost if you do consider starting the process afresh. |
Thats good to know a couple of estate agents you recommend.
I think im going to give it to the middle of October and then either rent it out, or have a go through a different agent.
It doesnt seem a good idea to out it to auction as its not a wreck. | |
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| Any property experts on here? on 17:25 - Sep 20 with 4066 views | ElephantintheRoom |
If you are going to rent again, which seems the most sensible option be very careful of any agent you might use. Friends of our rented an ex- parents house near Oulton Broad through a local agent who assured them all was well even though rent payment was becoming somewhat irregular. Then they had a call from the police who had raided the place. All fittings had been ripped out to create a cannabis farm upstairs and a drug factory downstairs. It’s fair to suggest the agent hadn’t visited the property once let alone regularly as claimed. And the damage runs well into six figures leaving them with an uninhabitable property. | |
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