What is it with shortsighted LL's?

Zulu

Before I begin, let me be clear - I'm a landlord myself. Unfortunately, like many others I'm property-bubble trapped, and forced to rent myself.

I've a reasonably good LL in that I get on with them, but by Christ, they are so short sighted. For example, since we moved in 3 years ago they haven't cleared the gutters or swept the chimney. They haven't painted. They haven't maintained the shed or side gate.
As a consequence: the shed is rotting through and barely standing (I suspect at this stage the ivy is holding it together and upright). The side gate has rotted through. The fencing is starting to rot. The gutters are completely over grown and rot has set into the wood around them. The roof developed a leak after some slates were lost in a storm - they got out someone to patch it up, but another leak has now developed. These leaks have gone through to the plaster ceilings in the bedrooms.

Now to be fair, when I raised the issue of the chimney and they agreed to do it and when I raise the issue of the leak they set someone out to patch it, but it's always "patching" and never a proper job. I realise they bought at the height of the boom as a "buy-to-let" but it irks me that they don't seem to realise that they are screwing themselves in the long run.

Why don't they care? Do they not realise that their rental yield is going to gradually drop?? that the property value is going to drop??? that by kicking the cost of repairs down the road it'll only make matters worse & more expensive????

...and that's why I HATE renting. Sorry about the rant folks.

Eldarion

What should also worry you about these types of landlords is that it's entirely plausible that he'll try to put the cost of getting this property back into shape against your deposit whenever you decide to end your tenancy.

Wait and see he'll try to claim half of what you mentioned as damages. Make sure you put these notices in writing or email at least.

Sleepy

I'd imagine there's quite a few of these landlords who are in similar positions to yourself: trapped having to rent out a house they're seriously under-water on and without the means to maintain them properly whilst renting elsewhere themselves.

Wabbit Ears

but will their rental yield gradually drop? from what Ive seen they will collect rent, increase rent and when you leave rent for a higher price and not spend money on repairs.

Zulu

Well you see, the thing is, I know them and they aren't struggling. (Now fair enough you never quite know what goes on behind closed doors, but...)


Yes the rental yield will eventually drop. As it stands we're still in there because it's ~€150/200 per month cheaper than the neighbors. But as time passes this gap will widen.

drumswan

He really needs to get the chimney swept, its a fire hazard otherwise.

handlemaster

Zulu wrote: »

Well you see, the thing is, I know them and they aren't struggling. (Now fair enough you never quite know what goes on behind closed doors, but...)


Yes the rental yield will eventually drop. As it stands we're still in there because it's ~€150/200 per month cheaper than the neighbors. But as time passes this gap will widen.

He needs to up the rent by 200 and do the work. All happy then.:)

Zulu

:rolleyes:

athtrasna

Surely it's that these type of things are dealt with between tenancies and the landlord has chosen to allow you peaceful enjoyment of your home, responding only to problems you raise?

Zulu

No, it's not that. A rotting side gate? Rotting fences? A rotting shed? All of these require maintenance every few years. They weren't maintained/replaced before we moved in.
Gutters? A yearly job. Again, it hasn't been done in so long that the board the gutter is attached to is now rotten.

All of the above are external jobs.

As a LL myself, I carry out yearly maintenance. It's easy to arrange this type of work. And it's sensible. I maintain my properties and their rental yield. It just cant see my LL 10/15/20 year plan (probably because there is none).

handlemaster

Zulu wrote: »

No, it's not that. A rotting side gate? Rotting fences? A rotting shed? All of these require maintenance every few years. They weren't maintained/replaced before we moved in.
Gutters? A yearly job. Again, it hasn't been done in so long that the board the gutter is attached to is now rotten.

All of the above are external jobs.

As a LL myself, I carry out yearly maintenance. It's easy to arrange this type of work. And it's sensible. I maintain my properties and their rental yield. It just cant see my LL 10/15/20 year plan (probably because there is none).

Maybe he intents to change all this when you move out. The timber fences etc aren't that difficult or expensive. Facia board guttering etc can all be changed for 800 euro. The ceiling he could claim on insurance.

Zulu

Maybe, but judging from the list of little jobs that haven't been done while we were there, and the list of little things that were present when we moved in - I very much doubt it.
(Don't worry I took photos moving in as evidence for when I move out)

Mrs OBumble

The shed and gate haven't gone from fine to rotted through in three years though: the property owner probably just doesn't see the need to fix them. (Some people aren't the brightest).

Ditto the gutters - he's probably never know that they need to be done. Have you tried telling him about them?

And as for painting, you certainly wouldn't expect to have it done every three years. I don't know what the norm is here, where very few buildings are full painted. But most people I know elsewhere think of it as a once-every-ten-years job.

Wabbit Ears

I dont think there is a household in the country that does the gutters every year, I did mine there for the first time on 10 and literlly every other house on my road needs it done badly. I did my neighbours while had the ladder out also

Zulu

Mrs OBumble wrote: »

The shed and gate haven't gone from fine to rotted through in three years though: the property owner probably just doesn't see the need to fix them. (Some people aren't the brightest).
Ditto the gutters - he's probably never know that they need to be done. Have you tried telling him about them?

Exactly this. I mentioned it to them, but I didn't push it. I told them they were rotting through and are crumbling. They shrugged it off. I didn't push it - its not urgent for me, as they were somewhat like that when I viewed at the start. They are really only interested in doing what absolutely needs doing.

Example - the tiles in the shower are cracked and the grout is gone. After a period of time I noticed the plaster ceiling below the shower was showing a damp patch. I told them. (Clearly water was running down the back of the tiles, and pooling under the floor/on the ceiling.) Now if that was me, I'd send a professional around, get the leak fixed. They sent a handyman around who plastered adhesive into the missing grout, and into the cracked tiles. Seems to have done the trick (pulgged the leak), but it's shortsighted.

And as for painting, you certainly wouldn't expect to have it done every three years. I don't know what the norm is here, where very few buildings are full painted. But most people I know elsewhere think of it as a once-every-ten-years job.

This is true, but I'd paint my properties every couple of years/ 3 years. 10 is way to long to leave it.

Wabbit Ears wrote: »

I dont think there is a household in the country that does the gutters every year, I did mine there for the first time on 10 and literlly every other house on my road needs it done badly. I did my neighbours while had the ladder out also

Again true, but I'd expect it to be done every odd year. When there are plants growing over a couple of feet tall from them, it's past time to do it.