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The Property Podcast

ASK436: Will this income-boosting method work? PLUS: My tenants are short-changing me!

The Property Podcast

Rob Bence & Rob Dix

Investing, Education, Business News, News, Business

4.82K Ratings

🗓️ 9 July 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

Rob & Rob are back and they’re answering two new listener questions!

  • (0:48) Ed’s been approached by a reputable company interested in using his buy-to-let property as a holiday let. They promise to manage everything and potentially triple the revenue for the same fee as his current letting agent. While the prospect of increased revenue is enticing, Ed worries that the offer might be too good to be true, so turns to Rob & Rob for their advice and guidance.
  • (5:32) Jonathan faces a dispute with his tenants who insist they were promised a rent £50 less than what is written in their signed tenancy agreement. Despite attempts to resolve the matter, they’ve only paid the reduced amount for the past two months, resulting in arrears. Jonathan wonders whether to pursue the issue or accept the reduced payments and wait for the lease to end before finding new tenants.

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Transcript

Click on a timestamp to play from that location

0:00.0

Hi, I'm Rob.

0:03.0

And I'm Rob.

0:04.0

And this is Ask Rob and Rob.

0:06.0

Yes, it is Ask Rob and Rob.

0:08.0

It's a show where we pick two of your questions and we give them answers.

0:12.0

We're going to be doing that for Ed and Jonathan today, but first a quick reminder of how you send your own question our way.

0:18.0

It's so easy you go to Property Hub.net.org, and there you have an array of options you can write in with your question and you may

0:27.2

have it answered in the Sunday Times or appear on the Property Podcast by getting your questioning through the method of audio.

0:35.6

But we make that easy as well because you can record for your computer or you can call

0:39.6

and leave as a voicemail. So very, very simple. So simple in fact that we've had two people once again, follow

0:45.4

that format. First thing we've got a question in from Ed.

0:48.0

Hi Rob and Rob, Ed here, a long time listener. I just want to first of all say thank you for everything that you put out there.

0:53.7

It certainly helped me on my property journey. I'm a property who will invest a customer, bought a couple of

0:59.0

properties through that with yourselves and it's actually around that kind of strategy that my question is about.

1:04.5

So I do buy into the buying for long-term growth the capital appreciation.

1:09.4

As long as it's making a positive cash flow I kind of don't mind because I work and that can provide me with

1:14.6

revenue for the time being. However, one of the properties that I got through yourselves,

1:19.6

so high-end, high-capital growth, there's a national company that's approached me about possibly using it as a holiday.

1:26.8

Now this company is a not fly-by-night kind of company, it's a recognized supplier of major

1:31.5

national accredited Landlord Association. a And it's around that. So at the moment the property is on a long term let it's decent enough.

1:45.0

It gives me a little bit of cash flow, only a little bit, it's quite low on the ROI, to be totally honest,

1:49.2

but we purchase during the mini budget period so the mortgage isn't as good as what we expected but it's still

...

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