0 Bewertungen0% fanden dieses Dokument nützlich (0 Abstimmungen)
71 Ansichten16 Seiten
Vanda Morris offers her personal experiences with buying, selling and letting property in the UK and abroad. She started out in the 60s, when property, as an investment was almost unheard of and makes comparisons to how things are today. The reality of property investment, to most people, seems appealing and may see this as an easy option of making a lot of money. However, Vanda highlights the pitfalls and challenges that come with property letting, and gives invaluable advice to potential landlords who want to take the same route. Other than her views on property, she also talks about her travel experiences. Vanda has travelled to Spain, Austria, Italy, Switzerland, France and Tunisia. Having lived through World War Two, she reveals what life was like for her as a child and why she feels people were happier in those days, and how she chooses to live to be happy.
Vanda Morris offers her personal experiences with buying, selling and letting property in the UK and abroad. She started out in the 60s, when property, as an investment was almost unheard of and makes comparisons to how things are today. The reality of property investment, to most people, seems appealing and may see this as an easy option of making a lot of money. However, Vanda highlights the pitfalls and challenges that come with property letting, and gives invaluable advice to potential landlords who want to take the same route. Other than her views on property, she also talks about her travel experiences. Vanda has travelled to Spain, Austria, Italy, Switzerland, France and Tunisia. Having lived through World War Two, she reveals what life was like for her as a child and why she feels people were happier in those days, and how she chooses to live to be happy.
Vanda Morris offers her personal experiences with buying, selling and letting property in the UK and abroad. She started out in the 60s, when property, as an investment was almost unheard of and makes comparisons to how things are today. The reality of property investment, to most people, seems appealing and may see this as an easy option of making a lot of money. However, Vanda highlights the pitfalls and challenges that come with property letting, and gives invaluable advice to potential landlords who want to take the same route. Other than her views on property, she also talks about her travel experiences. Vanda has travelled to Spain, Austria, Italy, Switzerland, France and Tunisia. Having lived through World War Two, she reveals what life was like for her as a child and why she feels people were happier in those days, and how she chooses to live to be happy.
years. Vanda worked for 41 years as a nurse at Lincoln Hospital, she has one daughter who lives and works in America as an interior designer and one granddaughter who is a pharmacist. Vanda spent 40 years buying, refurbishing and selling properties both in the UK and Europe and feels that the wealth of experience gained should be passed on to others who enjoy this work. At 70 years old Vanda is still buying properties.
My thanks to Chris, my friend and neighbour who helped with the preparation of this book.
Vanda Mor r i s
M Y L E T T I N G A N D T R A V E L E X P E R I E N C E S
Copyright Vanda Morris
The right of Vanda Morris to be identified as author of this work has been asserted by her in accordance with section 77 and 78 of the Copyright, Designs and Patents Act 1988.
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of the publishers.
Any person who commits any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages.
A CIP catalogue record for this title is available from the British Library.
ISBN 978 184963 982 8
www.austinmacauley.com
First Published (2014) Austin Macauley Publishers Ltd. 25 Canada Square Canary Wharf London E14 5LB
Printed and bound in Great Britain
Acknowledgements
My thanks to my publisher for recognising the value of my book.
I feel that this book will be very useful to anyone buying a property to let. For 30 years I have been buying properties and selling and I would like to help the people who are first time buyers, who would like to buy and then let. My experience over 30 years tells it is not easy if you dont know what you are doing. I dont believe in fantasy, I believe in the real world and the real world is not easy. It may be that some people will read this book and think that I am old-fashioned or mad, but thats their opinion. Everybody is entitled to their own opinion. I would like to help people. I have been buying houses since the 1970s and refurbishing them. My book is based on true stories. I used to have two jobs: one refurbishing houses and one nursing. In the morning I go to work in the hospital and in the afternoon I am dealing with contractors. In the early days, the contractors used to charge me lots of money for the materials and when I bought my own materials it was a cheaper job. I bought the houses in the East Midlands when property was very cheap in the 60s and 70s, but if I had bought in the South, I am sure I would have made much more money. When I started buying the houses, nobody had heard of buying to refurbish and houses that you can make money on. In those days I could have bought a house for about 16,000 in the Lincolnshire and Nottinghamshire areas and materials were not so expensive like now. Now, materials and properties are very expensive to buy. When I bought my first house in 1972 nobody had heard about property developers. I worked with my own common sense to refurbish and make the house nice and clean, and give tenants the chance to live comfortably. Not every tenant
appreciated that and over the years there was very bad publicity about landlords and landladies because they thought that tenants were being ripped off. I had tenants for many years and experienced very interesting situations. I had working- class people, professional people, but even the professional people were not always very good and did not leave the house in good order. Houses became filthy because they were not interested in cleaning. Buying properties now is very expensive. When I started buying properties in the 1970s and 1980s it was much cheaper, but even so wages were not very high, so it was still a struggle to buy because you had to get a mortgage and all banks needed confirmation that you could afford to pay them back. Lots of people told me that buying the houses and doing them up is an investment for their retirement. It is not as easy as people think. If you buy a house and take out a mortgage, as the majority of people do, you have got to pay the mortgage. Tenants are not always reliable so never ever rely on the tenants to pay your mortgage. In my situation I did have a second job, and if the tenant does not pay then I had to pay from my wages, and believe me, it is not that easy. People think that you just have the tenants and everything goes very smooth. It is not! Also, when tenants move out the houses can be in a dreadful state, you have to refurbish every time tenants move out. Tenants will not give a property back as it was when first rented because I was very friendly with them, and they said well I will rent and when it gets dirty I will move somewhere else. It is all left to the landlord to put the property back to the original condition, repair the damages, replace items etc. or no-one will rent from you if the property is dirty and because it is such a vast market, people now can pick and choose. Years ago, it was very difficult when renting to people who were unemployed. One man who was unemployed and on benefits went out one day and left the taps running in the kitchen and water flooded the kitchen.
For example, I had one lady who had a child, took all handles off the kitchen, and radiator caps were found missing. People say you have to take a deposit to cover all the damages, but, believe me, it doesnt work like that. If you take a deposit the tenant is very clever, they dont pay the last months rent and thats their recovery of the deposit, therefore you have completely lost the deposit and you are left to put everything right. Tenants will not give the property back in the same condition as when taking out the tenancy agreement, so you need to prepare for that. I had a tenant who did not want to pay the rent for some time. Many years ago, there was not any short-term tenancy agreements and you had difficulty when you wanted to give them notice and they did not want to go. Also, if they dont pay the rent then you have a real problem. I had one single mother who did not pay. They used to give her a cheque to pay the rent, but she didnt pay the rent, she just kept the cheque and spent it and the rent was in arrears. When I knocked on the door, she always sent her son to answer the door. I asked him where is your mother. I dont know he said, but she is shouting from upstairs I am not here. I took her to court because the rent was behind for years. I won the case but I could not get any money because she is on benefits. She also left the house in a dreadful state and I had to spend lots of money to put it right. So believe me, be aware about this. I would not say every tenant is like that but there of lots of them like that. I had one lady in the 80s who never wanted to pay the rent (again she was a single mother). She stopped paying the rent completely, so I took the case to court and won but couldnt get anything from her. So I was in a desperate situation because she did not want to leave and she did not want to pay rent either. So I went to see my friend Marion and was very upset because I had to pay the mortgage and I hadnt received the rent, so I am really in a desperate situation. Her next door neighbour had listened to our conversation and he said to me, I will help you. I wondered
how he could help me because I had been to court and nothing had been done so what could he do. He said, Leave it to me, solicitors just waste your time. He said, I know what to do with people like that, just leave it to me. Later on he asked me, Are you going to pay me 50? I said, What for? He said, I will kick her out. I said, No way, you cant kick people out. The court gave an order for possession but she still would not go, she said she had nowhere to go. He said, Have you got any appliances in that house. Yes, I said, Ive got a cooker and fire. He said, OK leave it to me. I bought the cooker on HP and because she will not pay rent I am struggling. He knocked on her door and said he was a debt collector. She didnt want to let him in, but he pushed his way in and said he had to sell the appliances to get the money back because Mrs Morris cant pay for the appliances. He capped it all and left the house in a very safe situation. Anyway, the next day she left. Thank god for that! I did not like to do that to anybody, but she got money from the council and put it in her pocket, spent the money and the rent was not paid. I had to pay the mortgage and appliances and she couldnt care a damn for me. My experiences over 40 years are enormous and I cannot record all of it in this book. I would need two or three books to be able to explain everything. I also had a house where the tenants put the telephone number in my name. Luckily in 1982, the government realised that if they wanted the landlords to buy the houses for people to rent they had to do something about the situation. So they passed a law on a short-term tenancy agreement for six months, then you renewed it if you still wanted the tenants. In some cases, the landlords used Estate Agents. I never did this because I always believed that nobody could look after my properties
better than myself. Lots of Estate Agents said tenants were looking for landlords or landladies like you, private, and they dont do any cleaning or look after the house. I always believed that was true, but in my research I asked so many people about their experience over the years with Estate Agents. Lots of people have told me that they had rented houses through Estate Agents and they never saw the rents. The Estate Agency does not want to evict the tenants because they would lose their commissions. When I started renting houses, Estate Agents never did rent houses for the private landlord. In the 60s, 70s, and 80s, we did not exist and only the council could rent houses to people. From then on I never liked single mothers. When I advertised in the papers, lots of single mothers applied and I am sure not all single mothers are like that. They always think landlords have got lots of money; they are rich bastards they call us, but thats not true. I had to borrow and I have to be responsible for what I am doing. She could not care less she is not responsible for anything. All she was worried about is getting money off Social Services, have plenty of babies and get lots of boyfriends. I have to have two jobs. It is not true that landlords are very rich and I would like to put the record straight on that. I watched a programme once in London that kept saying landlords were renting properties that are very dirty. They should see the properties when the tenants took over. In some situations tenants never cleaned the properties. I had professional people: a schoolteacher, and did not take single mothers any more. But believe me, the schoolteacher was very dirty. We had black bags in them days not wheelie bins. She kept the black bags piled up in the utility room and never took them out. One year later she moved out so I had to clean the house and I had a man who came with a truck to clear all the rubbish. It took three trucks full of rubbish. When the man went to clean the utility room, there were rats jumping about and one rat bit him on the ear so he had to go to hospital, and that is not a pleasant situation.
I cant imagine a schoolteacher leaving it in that condition. I had not been to the house for a year to inspect because I believed that as a professional lady, she would never dream of doing anything like this. Anyway, when she left, I cleaned the house and put it in good order. I said, now, Im going to get someone really decent. Then luckily, a Jehovahs Witness, wanted to rent the house. So I thought great, I am lucky because a Jehovah Witness would never do anything like keeping the rubbish in the house and they will look after the house, and he told me he would do the painting himself. He asked if I minded if he decorated the way he liked. I said yes, because you live in the house and pay rent and you can decorate whatever colour you like. I went six months later. I had sent a letter to say I was going to visit him and to see how he had got on. When I saw the house, I could not believe my eyes. He had painted a black ceiling. The kitchen was only one year old and he had messed with the electrical wiring and the bathroom was disgusting. I said, Look, you cant do this without my permission, you have to tell me what you want to do, and if I agree OK, but not just carry out work without my permission. It was dangerous what he had done and I couldnt imagine that a Jehovahs Witness could be like that. Nine months later, he had a wife and children, and he left them in that house with wires hanging, it was a dangerous place. His wife called me and asked me to come to the house to see what he had done. I took an electrician and a plumber to the house and they both said the house was very dangerous and needed sorting out. So I immediately asked the electrician to sort the wire hanging and the plumber to sort everything he had to do. The bill was around 900, so I asked his wife where he had gone and she said he had gone to Nottingham. I searched for Jehovahs Witnesses in Nottingham and found their Elder and asked for someone to help me. They said they could not do anything to help me and refused to pay this bill. I cant believe how people can do this sort of thing, I thought they were kind people.
Rented houses in the South and Midlands are different because the rent is much higher in the South and Midlands much lower I have bought so many houses and sold so many houses and my advice to young people and first-time buyers, they should have a survey done. I never had a survey and I never had the searches because I know the searches are just to get more money out of people. For example, the land is contaminated. This is how the searches get money out of people I had searches on the drain but still could not find what the matter was, so it is a waste of time and waste of money, however, I wouldnt advise anyone to buy without a survey. My personal advice is for young people to have searches and to have a surveyor. In my experience, I did not need it because I knew what to look for. Back to houses. Over the years, houses do go up and down, boom and bust, so many times and many people have been left in negative equity in the past. When there is a boom, I advise people never to buy the house, always wait because boom and bust happens very quickly. Now, at the moment it is a boom, especially in the South. Young people cant afford this: you are talking about a 1 bedroom maisonette in London costing about half a million. This is just ridiculous. Many years back, it was a different price. I know when Nigel Lawson introduced the tax, couples had tax relief if they bought properties. I bought a house once and got gazumped somebody paid 10,000 higher. If they keep putting prices up, you end up in negative equity. It is best to stop and wait. There was stagnation from 1999 to the Millennium. At the moment there is a boom. Houses do go up and down all the time but I wouldnt advise anyone to buy when there is a boom. For example, in Spain, a programme said you will make money. Look at Spain now. I personally bought a house in Spain myself and lost an enormous amount of money. I had a house valued at 260,000 euros and I had to sell for 30,000 just to get this beautiful and big house bought as I am
getting older and could not get up the stairs, so I decided to get rid of it and had to sell it for less. So many people in Spain lost their houses. So many houses empty, but I think the bank made a big mistake in lending money to anybody. People were buying and buying but obviously now they cant do anything about it. Expats now find it difficult to live there. Spain is an example of what could happen in the future in England. In the South it is madness. For example, my own granddaughter tried to buy properties in London but then she found that to buy just outside London was better. It is difficult for young people to buy their first house. Going back to Spain I spent a lot of time in Spain and speak Spanish fluently. There are lots of expats living in Spain but they dont want to learn the language. I personally would never live in any country unless I could speak the language. You will be missing out on lots of things and if you are taken ill and sent to hospital you are missing things. For example, we had a problem with a neighbour who was Chinese. The English lady who lived in Spain complained about the Chinese person, who lived with 15/16 people in the house and made an enormous noise. At the police station (because of the language barrier, the police did not take any notice, so I went and spoke Spanish for them and explained the problem), they acted immediately. They came to my house and went on the flat roof, and jumped next door to find out how many Chinese people lived there. The police found so many illegal immigrants and thanked me because I reported it. This is what I am trying to say: if you dont speak the language in any country in which you live, it is not good and you will have lots of problems. I would advise anyone, wherever you buy a house you must learn the language. I spent lots of time in Spain and I helped lots of English people who could not speak the language. Now renting houses in the UK is fine, but there are so many houses, especially in the Midlands, because so many people are trying to rent. It is not easy to rent because there