Nobeerinthefridge
Free Member
House round corner from me went 30% above, and I’m only in lowly prestwick, 50% isn’t beyond the realms.

I’m in lowly newton-on-ayr 🙂

The house next door went up for sale, queued out the door with people viewing it.
I thought Prestwick was still highly desirable, except when young team are roaming about at pub shutting time.

Well I’ve decided to try it in the short term, don’t think I can lose.

Cheers for the advice all

@Docered I recall similar around 2005, we bid 30% above asking price for a Newton on ayr house in ardlui road, closing date, was highest bid but folk sold to someone that wasn’t in a chain.

Gutted at the time, was a lovely house.

Aye, tbh covid has put the brakes on Prestwick being a party town, one upside of it!.

Hmmm. Bought a flat in May 2007 for £165k. A couple of years later the same flats were selling for £95k. Took until 2019 until I got back to what I paid. I reckon that’s a fairly big crash.

Location, location, location

Lots of negative equity in the 1980s. A mate sold a house in Sheffield. Waited a year and bought a much bigger one for the same price.

So never say never.

Well I’ve decided to try it in the short term, don’t think I can lose.

If you mean renting it then its totally unacceptable to only do it ” short term”. some poor sod will end up out on their ear if you decide not to continue

@Docered I recall similar around 2005, we bid 30% above asking price for a Newton on ayr house in ardlui road, closing date, was highest bid but folk sold to someone that wasn’t in a chain.

Gutted at the time, was a lovely house.

Aye, tbh covid has put the brakes on Prestwick being a party town, one upside of it!.

We’d have been neighbours then. OH bought in Ardlui in 2003 (I think).

totally unacceptable

Unacceptable to whom? Perfectly legal.

Also often let property has higher value than empty.
So if he decides to sell as a going concern with proven tenant he may well get more money.

Sometimes people only want to rent short term, relocated for work etc and still shopping for their own house. It’s a two way street, the tenants can leave anytime. When I wanted to sell my flat in Edinburgh I waited until the tenants gave notice, then let them off the last couple of weeks rent so they wouldn’t have to pay double and I could get on with selling.

We’d have been neighbours then. OH bought in Ardlui in 2003 (I think).

Small world eh!.

Sometimes people only want to rent short term

And that

You could just rent it as an AirBnB if you want to to try short term letting? More £££s too.

I’m currently back in my Edinburgh flat for the week moving the last of my stuff out and getting it ready for AirBnB-ing – festival is starting soon!

Unacceptable to whom? Perfectly legal.

Morally unaaceptavble. to thorow someone out of their home for you convenience

You could just rent it as an AirBnB if you want to to try short term letting? More £££s too.

That means a lot of work to get it to standards, IIRC planning permission and might well be restricted by the vcouncil – I know they were taking steps to do so.

Explain at the outset its a 6 month rolling lease. Then the tennant will have 6 months to find something else. Totally acceptable imo
Cuts both ways as new tenants are also a ball ache for landlord’s
Credit reference checks
EPC
Landlords Deposit scheme
Bit of tlc or repainting where the ptevious incumbent has painted Live Love, laugh in 2ft higj rollimg italic above the bed
Plus the dilemma of the next tenant being an arse as well

Morally unaaceptavble. to thorow someone out of their home for you convenience

I’m doing exactly that at present.

I’ve been reluctant landlord for over a decade. I need my capital out for my own home mortgage. I need to not be schlepping an hour+ up the road regularly or giving up weekends to decorate and fix the place.

I’ve waited patiently for a gap in tenants twice, the bloody Brexshit vote and Independence vote meant I couldn’t sell then due to depressed prices.

I’ve now sold it and given my tenants 6 months notice.

There are no council or housing association rents available within 20 miles. There hasn’t been for 5 months.

There are no private lets,  as they have either sold up like me or are AirBnB currently. Those who hate private landlords in our area have had thier way – there are not enough private houses for rent. None.

The first week of September I’ve a decision to make – lose my sale, a few thousand pounds of fees and still not have my capital money out, or allow my tenants to stay.

😞

Thats difficult Matt. At some point you have to say enough is enough.

Hard as it is, you need to do what’s right for you Matt. The state of the local property market isn’t on your head.

Nice one @hels. 👍🏻