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Lee Mason

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Hi,I hope you can give me some advice I’m a landlord and I’ve got 2 properties in a Ltd company I’m a working class guy and saved hard to buy my 1st BTL After George Osbourne decided to reduce tax relief on 2nd homes I decided to start up a Ltd company and that company (me)had to pay 8k to transfer it over A few years later after more saving bought another but from the Ltd company I’m reading all of your comments and I really don’t know which way to turn My tenants have just given a months notice(1st property)after 3 years,very few issues I’m 57 now and feel I’m at a crossroads with these houses Should I just sell the house and keep the 1 I’m in a contract with the other house for another 18 months I always rented to professional people but they treated the house terribly so I handed the house over for 3 years to the letting agent for guaranteed rent and better rates Everything has been good for 18 months and I’ll cross that bridge when the contract expires I’m also concerned about the CGT Thank You in advance

From: Lee Mason 21 September 2023 22:18 PM

Devastating news Our tenants stopped paying their rent a couple of months ago We needed to renew the gas certificate but they wouldn’t answer the numerous calls,texts,emails our agent made We wrote them a polite letter saying these were unprecedented times and we appreciate that people were struggling financially but there is help out there via universal credit and we still had an outstanding mortgage to pay on the property We had a payment out of the blue and now we’re only one month in arrears The agent then got a message to say they had to return to their own country for an emergency We still needed to service the gas boiler and appliances I received a video from the agent when they entered the property Every wall downstairs had graffiti on them,even the blinds on the patio doors had indelible pen on them I felt sick We’d put a brand new kitchen in the property and new carpets throughout The house was immaculate when they were chosen to rent our property They’ve made contact to the agent saying both of their passports had expired and they’ve got an appointment in 2 weeks time and it should take another 2 weeks for the passport to arrive It’s not looking good I still work myself,on live electric mains in all sorts of weather,I’m not wealthy but I’ve grafted hard for this and this was my pension This decision could be the final nail in the coffin I’m afraid

From: Lee Mason 18 September 2020 20:41 PM

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