House my wife and her brother are buying to let in Nottingham. Had an electrical report done and there's about £500 worth of work needs doing apparently. It looks fair enough to my untrained eye, but If someone who understands could spend five mins looking at it for me I'd be grateful.
just selling my place and was asked about this, if i was buying something and wanted to get the electrics up to current spec i would expect at least that. The regs do change every 5 minutes, then again things get safer, so I suppose its worth doing, especially if its flagged as unsafe.
We've actually reduced ours, both me and the missus kept our flats. She sold hers to a buy to let, and now I've sold mine, and buying holiday home instead
personally I think it's a nightmare, we just sold a house we were renting out in Bexleyheath and to cut a long story short I had to pay the best part of £5k to get the tenant out as we had an immediate buyer - or go through the process of evicting them. Thankfully we made a decent profit on it so it didn't eat too much into it, but I don't think I've ever been as angry.
Put me off ever doing that again and I won't be, far too much aggro
We ( well the missus and B in L ) are fortunate to be buying for friends. They have four pets and therefore most landlords won't touch them. It is very much a long term thing for all involved ( although, of course, you never know what's around the corner ). We don't have to worry about agencies taking a cut, so we can let for under the going rate and it works well for all concerned. Thanks again for everyone's help and advice.
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Put me off ever doing that again and I won't be, far too much aggro