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The Property Podcast

ASK245: I hate my property! What should I do? PLUS: Can you clarify the new electrical regulations?

The Property Podcast

Rob Bence & Rob Dix

Education, Business News, Business, News, Investing

4.82K Ratings

🗓️ 21 July 2020

⏱️ 7 minutes

🧾️ Download transcript

Summary

This week on Ask Rob & Rob, the guys are discussing what one caller should do with the property she hates, and what the new electrical regulations mean. Our first caller this week is Nancy. She’s a GP who's taken a step into the world of property investment.  Nancy owns a property that’s located about 15 minutes away from Liverpool Football Club. It’s a property that’s performing well, however it’s a serviced accommodation property which she’s now come to realise she hates.  Between the hours that Nancy puts in at the GP surgery as well as doing private consultations, she’s found that the amount of time the property requires and what she gets back from it, really isn’t worth it.  So now she’s questioning if she should just sell the property or whether she should keep it and outsource a company to manage the property for her.  The second caller this week is Jake who, along with a friend, manage a few properties in a portfolio that they own.  They’ve been looking into the new EICR rules that came into play on the 1st July. From what they’ve found, it looks as if you had to have new EICRs done before this date, regardless of whether you’ve had them done previously or not, to make sure you’re compliant with the regulations.  So, do you need to have brand new electrical certificates in place or do previous ones still uphold the regulations?  Tune in to find out.   Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply).  Or if you prefer, click here to leave a recording via your computer instead. The next question on Ask Rob & Rob could be yours.  Have you joined us over on the Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So get yourself over and introduce yourself. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

Hi, I'm Rob.

0:03.0

And I'm Rob.

0:04.0

And this is Ask Rob and Rob.

0:07.0

Hello everyone and welcome to Ask Rob and Rob, the show where you give us your questions and we give you our answers and hopefully most of the time

0:14.4

that's pretty useful now most of you seem to agree because you are good enough to keep giving

0:18.7

us your lovely questions and part of the reason might be because we make it very easy for you to contribute.

0:24.5

Yeah, just give us a call. Oh, 1,30035. That's 1,3003,00035.

0:30.2

You can leave us a voicemail there. Or you could achieve the same thing by going to

0:33.8

Property Hub.net slash ask. Dead easy. Send your question in and follow in the

0:38.2

fine footsteps of Nancy. Hi Robin Rob I love your podcast. I only discovered it in January and I'm

0:46.0

hooked ever since. My name's Nancy Allen. I'm a GP who's crossed over into the realms of

0:52.1

property investing and I've bought a unit which is about

0:56.9

15 minutes away from the Liverpool Football Club.

1:01.0

It's doing quite well.

1:02.3

The only catch I have is that I absolutely hate service accommodation.

1:07.0

I still practice so when I work out my time versus managing the property versus me doing medical

1:15.8

consultations I feel that it's really not worth my while and I just hate all the

1:20.9

issues dealing with that level of maintenance. I do have good

1:24.9

housekeeping but I'm really not interested in marketing. So the question I have is

1:29.8

do I sell or do I hold and outsource the management? I did try that about three years ago and I was ripped off unfortunately.

1:41.0

So do you think I should sell or hold? I have had an offer even though it was

1:46.3

ten thousand pounds less than what I believe it's worth as a property so I'd be very

...

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