You could live in it yourself, loan to a friend or family member. Lots of my neighbours who were investors in my last tenancy were evicting their tenants to move in their adult children for 2 years, during which the adult child got free rent, could save towards their own deposit, and after 2 years able to drop back onto the market at current market rates - win-win for them.
You've just given me a great idea. I've just sold at actual market value as it's going to be owner occupiers. But I've another I'm holding onto for the 2 years empty. What I'll do then is rent over the market rent, and give the tenants cash back, to actual market rent, and keep my official rent artificially high. I wonder is there anything in the legislation to stop me doing that. The problem then would be the tax. I'll have to think about this some more. Never again will I leave tenants without increasing constantly.
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My understanding was that you couldn't increase by inflation, that they moved to that, inflation went high, and then they restricted the inflation rate too. I see they made it only 2 months rent upfront as deposit, plus one month in advance. But as far as I'm aware students have to pay 6 months, as in pay from Sep to Dec, and pay Jan to May.
You've just given me a great idea. I've just sold at actual market value as it's going to be owner occupiers. But I've another I'm holding onto for the 2 years empty. What I'll do then is rent over the market rent, and give the tenants cash back, to actual market rent, and keep my official rent artificially high. I wonder is there anything in the legislation to stop me doing that. The problem then would be the tax. I'll have to think about this some more. Never again will I leave tenants without increasing constantly.