Rental Property Back Home

[CorpusChristie]

8 minutes ago, Techno Viking said:

 

Has potential to be a nice little earner for both the tenant and plumber !!

 

  As opposed to a guaranteed monthly  earner for the property manager , whether theres any leaks or not 

[CorpusChristie]

7 minutes ago, kingdong said:

Sorry i forgot how extremely reliable tradesmen are,and how their good name is your guarantee.

 

  I've been using the same one for years now , reliable and trustworthy .

[Techno Viking]

2 minutes ago, CorpusChristie said:

 

  As opposed to a guaranteed monthly  earner for the property manager , whether theres any leaks or not 

 

and a 50c tap washer is billed as a $2,000 new hot water system !!

[CorpusChristie]

2 minutes ago, Techno Viking said:

 

and a 50c tap washer is billed as a $2,000 new hot water system !!

 

  I did actually have a boiler that kept malfunctioning , breaking down, it was over 15 years old and passed its use by date .

  My gas engineer took a look at it , replaced the faulty part and told me my boiler is so old , it needs replacing and the next time it breaks , I should replace it .

  Three months later, it broke again and I spent $3000 replacing it .

I did everything online myself without using a property manager 

[Techno Viking]

31 minutes ago, CorpusChristie said:

 

  I did actually have a boiler that kept malfunctioning , breaking down, it was over 15 years old and passed its use by date .

  My gas engineer took a look at it , replaced the faulty part and told me my boiler is so old , it needs replacing and the next time it breaks , I should replace it .

  Three months later, it broke again and I spent $3000 replacing it .

I did everything online myself without using a property manager 

 

 

[scubascuba3]

1 hour ago, CorpusChristie said:

 

  To make things even easier , tell your tenants your plumbers contact details (When they move in) and tell them to contact him directly if anything is required and also tell the tenants to pay him and to deduct the costs from the next rental payment 

I wouldn't do it like that, I get a/my plumber to go round and he tells me how much to fix and I decide whether to go with him or pick someone else. Tenant is in the middle suits me. I pay electronically using my phone.

 

I wouldn't be flying back to UK to find a new tenant if they left, too much hassle and a waste of money

Edited December 8, 2020 by scubascuba3

[sharksy]

12 hours ago, CorpusChristie said:

 

  I did actually have a boiler that kept malfunctioning , breaking down, it was over 15 years old and passed its use by date .

  My gas engineer took a look at it , replaced the faulty part and told me my boiler is so old , it needs replacing and the next time it breaks , I should replace it .

  Three months later, it broke again and I spent $3000 replacing it .

I did everything online myself without using a property manager 

You have a system that works for you, but won't neccessarily be suitable for all.

How many properties to do manage?

I have 9.  I used to manage them all myself and it was a right pain at times. 

One particular nightmare was on a skiing holiday on Christmas day and I received an email telling me the boiler isn't working - and there was a cold snap in the UK at the time.  I spent most of the day on my phone trying to find a gasman who could attend, noone would for a few days.  Best I could do was get my step-father to go to property and lend them a space heater until a gasman could attend.

 

Since I've handed them over to an agent, I have peace of mind, especially if away on a holiday.

[OJAS]

On 12/5/2020 at 1:48 PM, CorpusChristie said:

 

  What does the agent do, that you cannot do and which makes his 10-15% agents  fees worthwhile ?

 

How about alerting you to fresh legal obligations to be imposed on landlords, for instance? In this connection, are you, for example, aware of the new Electrical Safety Standards Regs which are due to come into force for existing tenancies from 1 April 2021?

 

https://www.gov.uk/government/publications/electrical-safety-standards-in-the-private-rented-sector-guidance-for-landlords-tenants-and-local-authorities/guide-for-landlords-electrical-safety-standards-in-the-private-rented-sector

 

I would probably have carried on in blissful ignorance of the implications of this new requirement for the existing tenancy on my UK property had there been no agent out there to forewarn me of this potential banana skin!

 

[CorpusChristie]

26 minutes ago, OJAS said:

 

How about alerting you to fresh legal obligations to be imposed on landlords, for instance? In this connection, are you, for example, aware of the new Electrical Safety Standards Regs which are due to come into force for existing tenancies from 1 April 2021?

 

https://www.gov.uk/government/publications/electrical-safety-standards-in-the-private-rented-sector-guidance-for-landlords-tenants-and-local-authorities/guide-for-landlords-electrical-safety-standards-in-the-private-rented-sector

 

I would probably have carried on in blissful ignorance of the implications of this new requirement for the existing tenancy on my UK property had there been no agent out there to forewarn me of this potential banana skin!

 

 

  You can join landlords online forums , were you can find all the updates first hand , they also send you E-mails informing you .

  I have ten years worth of Gas Safety certificates and no one has ever asked to see .

Is the electrical certificate a new regulation ?

Pretty sure you also needed to get one done previously, like ten years ago 

Edited December 17, 2020 by CorpusChristie

[sharksy]

I think you confusing the Electrical Safety tests with Energy Performance Certificate.

[OJAS]

9 hours ago, sharksy said:

I think you confusing the Electrical Safety tests with Energy Performance Certificate.

 

Think he'a actually confusing Gas Safety checks with Electrical Safety Standards checks - 2 quite separate regimes.

[CorpusChristie]

9 hours ago, sharksy said:

I think you confusing the Electrical Safety tests with Energy Performance Certificate.

 

  No, I had to get  Electrical safety certificate , a Gas Safety certificate and an EPC , this was ten years ago

ESC needed renewing every five years , the GSC needed renewing every year and the EPC needed renewing every ten years .

  Electrical safety certificates are nothing new .

Thinking about it , I just had to show them to the Council , if the Council are not involved, just a GSC and a EPC are required to be given to private renters 

[sharksy]

What you state is correct.  But do you know the rules that are in place now for Electrical Safety Certificates?

[EVENKEEL]

On 12/4/2020 at 7:18 PM, Lacessit said:

If I ever go back to Australia, my son has a room reserved for me in his house. Not that I would want to, except for a brief visit.

I sold my house in Australia, too much work in maintenance and if I get a problem tenant, they can cost thousands of dollars in a month. Most of the time, agents are acting in their own interest, not yours.

The proceeds are invested in blue-chip shares and peer-to-peer lending, which keeps me capital-stable while I use the income to supplement my pension. I live here as well as I want to.

Property is great if one has a 20 to 30 year time window. It's not worth the hassle when someone is in their seventies.

It goes without saying the agents are acting in their self interest. I have 2 rentals one I deal with personally because I trust the tenants to maintain and handle all repairs, and the other has an agent. I keep the properties because that's how wealth is gained, when one generation hands down to the next. My son will be getting both some day. I've had the same agent for 17 years. After taxes, Ins. and repairs it's not a large earner but it's nice to have. 

 

I do think about selling and living large here in Thailand but it's not in my DNA.