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What happens when you can't afford an additional 7k of essential repairs?

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Author Topic: What happens when you can't afford an additional 7k of essential repairs?  (Read 151 times)
Newbie
Posts: 2

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« on: May 27, 2022, 09:02:01 PM »

Bit of advice please. An old terraced house I let out needs 6k of essential/emergency work doing to it which will clean me out. When the engineer was in there, he found an 'additional' 7200 of emergency work that needs carrying out to the ceiling in the main bedroom. This is basically bankrupting me and I think the only solution I have left is just to hand it back to the bank.

But where do I stand legally regarding the tenant now? Its not safe in that bedroom (they have told the engineer they are no longer using it). But can the tenant now say they want to stay in the property and and take legal action to get it done?   :( Just trying to prepare myself for more nightmares.

I'm supposed to be staying positive at the moment while I'm dealing with kidney cancer.  So the timing of this sucks. And I'm at a loss of what to do or what I'm able to. Really struggling on all fronts.

Cheers
« Last Edit: May 28, 2022, 10:35:46 AM by t2uds »
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Hero Member
Posts: 1551

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« Reply #1 on: May 28, 2022, 10:37:47 AM »

My first thought is that the builders may be greatly over-stating the work that is needed to correct this problem. "Potentially dangerous" led me to have expensive work done on a chimney years ago.It turned out to just need a bit of re-pointing. It sounds like they have spooked your tenant as well. I would get a second opinion before you make any further decisions.Looking ahead, after 15 years you should be showing a healthy profit.I would get advice when you are well enough,get the properties sold to at least pay off the mortgages.What a hard time for you,I do wish you a full recovery.Put your health first.
Newbie
Posts: 2

I like property

« Reply #2 on: May 28, 2022, 11:21:58 AM »

My first thought is that the builders may be greatly over-stating the work that is needed to correct this problem. "Potentially dangerous" led me to have expensive work done on a chimney years ago.It turned out to just need a bit of re-pointing. It sounds like they have spooked your tenant as well. I would get a second opinion before you make any further decisions.Looking ahead, after 15 years you should be showing a healthy profit.I would get advice when you are well enough,get the properties sold to at least pay off the mortgages.What a hard time for you,I do wish you a full recovery.Put your health first.

Thanks, much appreciated. Sadly there is no profit. I'm no property millionaire sadly and a second property (I just have 3 in total I did in 2007) was trashed by a tenant and then needed a new roof and whole load of other work. So that emptied all my savings.  I'm just a stay at home daddy. So I dont even have any salary to dip into. I am getting a second quote in. I wondered if they could just do a lintel and maybe leave the ceiling (it was bowed in 2007 and hasn't budged since) I'll see I guess. But if its a worse case scenario and needs all this work, I was just worried about where I stand legally regarding the current tenant? I'm assuming they can't be 'told' to leave even if its classed as uninhabitable. So I'm panicking a bit that they could refuse to leave and the council say I'm liable for the work that I have no funds for?
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« Reply #3 on: May 29, 2022, 11:07:32 AM »

It sounds as if you are having the current work done as a result of a tenant complaint and intervention by the council ? If that is the case then you could have problems evicting if the council also agree with the builders about the further work quoted for. Personally,if I was the tenant I would not want to live with the noise and disruption.You could try having an honest conversation with them,if relations are still reasonably amicable between you.

I am guessing  you have had a mixture of bad luck and maybe very bad choices in the past.I really think you should talk to an independent financial advisor.There are so many things to take into consideration,not least the security for your young children and maybe partner,and safeguarding your own  family home. Simon Pambin on here would be able to advise on how to find a genuine person to talk to.
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