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Old family home need advice

28 replies

thisisasurvivor · 19/07/2024 23:12

Hello all

My parents old home is sitting idle

Can't rent it out just yet as I have to raise about 5k to do some work in it

In the winter it's gets very cold and the mould has been bad inside

It cost me quite a lot for a year to try to have the heat on at a low rate on a regular basis

I am getting a stove put in as I have some sticks to use up

What else can I do to keep it in good condition ?

As you can tell I have no clue and very little money

I have a few weeks off in August and will try to stop paper off and do some clearing out

So much to do
Do not want to sell it

OP posts:
LibertyDuck · 19/07/2024 23:15

Why don't you want to sell it? It's bricks and mortar. You'll still have your memories. No-one is going to want to rent a mouldy old house.

Ukholidaysaregreat · 19/07/2024 23:16

You need to open the windows to let air circulate. It really helps reduce mould.

thisisasurvivor · 19/07/2024 23:20

Other family members want to keep it in the family

I somehow have the job of trying to keep it ticking over

Needs a new bathroom

Some new carpet

Lovely house with so much potential

But

It could end up a total mess if I don't get my act together

Windows were closed as the cats brought in🐁

OP posts:
CraftyNavySeal · 19/07/2024 23:20

Can’t you take out a home improvement loan to do it up then rent it out?

TheFlis · 19/07/2024 23:23

Who actually owns it?

CraftyNavySeal · 19/07/2024 23:23

thisisasurvivor · 19/07/2024 23:20

Other family members want to keep it in the family

I somehow have the job of trying to keep it ticking over

Needs a new bathroom

Some new carpet

Lovely house with so much potential

But

It could end up a total mess if I don't get my act together

Windows were closed as the cats brought in🐁

Then they can buy it off you and do it up themselves or rent it off you and live in it themselves.

TheShiningCarpet · 19/07/2024 23:24

thisisasurvivor · 19/07/2024 23:20

Other family members want to keep it in the family

I somehow have the job of trying to keep it ticking over

Needs a new bathroom

Some new carpet

Lovely house with so much potential

But

It could end up a total mess if I don't get my act together

Windows were closed as the cats brought in🐁

So what are they contributing to the upkeep of the house Then? It’s absolutely ridiculous to think that all of this responsibility falls on you and you don’t even have a saying what happens with the house

if you wanna keep it in the family and treat it as a family project and everybody has to come to the table with some assistance otherwise I’d walk away quite frankly - what’s in it for you?

PS you can’t just burn some sticks on a woodstove that’s gonna do bugger all it has to be dry. Seasoned wood burnt consistently to help dry out the house - quite frankly if you’ve got money for a stove you are better off chucking it at the other parts of the house to improve it

thisisasurvivor · 19/07/2024 23:24

CraftyNavySeal · 19/07/2024 23:20

Can’t you take out a home improvement loan to do it up then rent it out?

Sadly not

Have very limited funds and can't borrow anything right now

OP posts:
thisisasurvivor · 19/07/2024 23:26

Great ideas guys thank you

The other family members are not here so think I am best placed

I'm really not

I would like to get it into a decent shape
Get someone to rent it out and charge a low rental rate

But again I'm like how?
Wtaf. ??

OP posts:
thisisasurvivor · 19/07/2024 23:26

TheFlis · 19/07/2024 23:23

Who actually owns it?

Myself and two other siblings

One day they would like to do a big job on it

For now it falls to me

Aghhhhhhh 🤣🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️

OP posts:
TheShiningCarpet · 19/07/2024 23:30

Do you want to be a landlord? Do you all have the money and resources to keep the house to the standard needed, arrange fixings etc? pay a management agency?

i think you need to sit down the three of you - cards on the table. It’s not fair for you to have the weight of this. Divvy up the work or they need to buy you out or you just refuse to do anything

thisisasurvivor · 19/07/2024 23:59

TheShiningCarpet · 19/07/2024 23:30

Do you want to be a landlord? Do you all have the money and resources to keep the house to the standard needed, arrange fixings etc? pay a management agency?

i think you need to sit down the three of you - cards on the table. It’s not fair for you to have the weight of this. Divvy up the work or they need to buy you out or you just refuse to do anything

Yes I think this is the only way forward

Or everyone coughs up so we have enough to get things moving properly

OP posts:
ForestAtTheSea · 20/07/2024 15:25

thisisasurvivor · 19/07/2024 23:26

Myself and two other siblings

One day they would like to do a big job on it

For now it falls to me

Aghhhhhhh 🤣🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️

If three people own it, then all of them are responsible for the upkeep. If the others are not present (live too far away etc), then perhaps you could divy up the most pressing work. Maybe the others can contribute money while your contribution is the work and information gathering. You should agree on this in writing in case you'd later have disagreements and they claim you did not pay your share of upkeep or anything. Some contract that all three contribute, 2 will contribute x amount of money and you will contribute x amount of hours in lieu.

What you need first is information: any old contracts or information about the building that you might have, year of building, which materials were used, type of insulation, type of heating (is there none so far?).

Armed with this kind of information, you can see if there is information from your city administration or citizens advice or similar about where to start when you want to renovate a building or insulate it better. There were a lot of campaigns about energy efficient buildings, so there must be some points of information.

YT is a rich source for DIY building and renovation, but check the credibility of people first, not every YT builder actually knows their stuff and some "solutions" can be quick fixes with long-term problems trailing about. Others are just ads for equipment companies, so look around first before you act on anyone's advice.

There were youtubers who built their houses from scratch, there are also many DIY renovation channels by women, from people who started out knowing not a lot or coming from totally different professions but taught themselves.

The keywords you gathered from knowing what type of house you actually have and its specifics, combined with information by foundations, administration etc will help you find the right videos.

But at the end, if you really do not want this house, then ask if the others would buy you out.

The most important aspect would be to stop mould, and since it's summer, maybe you can do a few things now that are easier in good weather.

I also read of schemes where you get renters that will do renovations in exchange for a reduced rent. But even then you need to know the basics of what is going on and agree on a plan with them, not just let stuff happen, and you'd probably need to supply the material for them. Also in this case, put everything in writing and into a contract and specify.

rwalker · 20/07/2024 16:15

I’d be tempted to air bnb it rather than rent it out
there’s changes afoot where you’d struggle to get possession of it back

renting isn’t the golden goose people think it is
if you got £800 a month take off tax
you’d have to have
LL insurance
commercial house insurance
Maintenance
gas and electric checks and certificates
agents fees
LL registration fee
take all that off and divide by 3 you’ll be lucky to get £120 a month each
not to mention if you get a shit tenant cost you £1000’s to evict and you’d have to pay for any damage they left behind

MikeRafone · 20/07/2024 16:20

How are you going to afford the increase in council tax? Council tax will increase to 150% and 200% on an empty property

MikeRafone · 20/07/2024 16:20

Could you move into the property and rent your home out, thus giving you an income to spend on the house

LindorDoubleChoc · 20/07/2024 16:22

You're asking the impossible and I fail to see how even the mighty Mumsnet can help you.

MikeRafone · 20/07/2024 16:28

renting isn’t the golden goose people think it is
if you got £800 a month take off tax not everyone pays tax as they might end earn over threshold
you’d have to have
LL insurance - yes £200 a year
commercial house insurance it’s not commercial, it’s a domestic residential property
Maintenance - as and when, taken off any tax liable as cost
gas and electric checks and certificates electric isn’t annual but a one off, gas is annual
agents fees either yearly £3/400 or % monthly +VAT also add on tenants checks, which are charged for annually or ever 6 months
LL registration fee - how much is this and what is it? Can you link up lease

if the house will rent for £1200 a month- you could see an income of around £8-12k per annum taking into account maintenance long term

so between £2.500 and £4000 each sibling

if you have the property managed the person living closest wouldn’t be left with all the work

Changingplace · 20/07/2024 17:04

thisisasurvivor · 19/07/2024 23:59

Yes I think this is the only way forward

Or everyone coughs up so we have enough to get things moving properly

Exactly, who is currently paying standing charges on utilities & council tax?

I would get everyone together and agree a plan, either everyone puts in £x towards the required renovations by a set date so you can rent it and if that doesn’t happen by a set deadline then it has to be sold.

Once it’s in a fit state there are lots of requirements around letting properties, tax to pay on income, annual gas safety checks etc and general maintenance- who will deal with all this, who will pay for these things?

It doesn’t sound like there’s a willingness from your siblings to get involved and if you don’t want to then I would push towards a sale in the long run.

WallaceinAnderland · 20/07/2024 18:11

OP you cannot be a landlord. You are obviously absolutely clueless as to what that involves.

You would need a hell of a lot more than 5k as back up cash for starters. You have legal obligations to your tenants. It's not something to take on without proper understanding and knowledge of all that it entails.

TonTonMacoute · 20/07/2024 19:14

WallaceinAnderland · 20/07/2024 18:11

OP you cannot be a landlord. You are obviously absolutely clueless as to what that involves.

You would need a hell of a lot more than 5k as back up cash for starters. You have legal obligations to your tenants. It's not something to take on without proper understanding and knowledge of all that it entails.

This

Rules for landlords have just got a whole lot more strict, 'accidental' landlords are bailing out left right and centre.

We have just inherited MILs lovely house. We would love to keep it but we've been landlords before and it's just not worth it, especially now.

thisisasurvivor · 20/07/2024 23:11

WallaceinAnderland · 20/07/2024 18:11

OP you cannot be a landlord. You are obviously absolutely clueless as to what that involves.

You would need a hell of a lot more than 5k as back up cash for starters. You have legal obligations to your tenants. It's not something to take on without proper understanding and knowledge of all that it entails.

Hehe

Why don't you thread a bit more lightly while you are at it 🤣🤣🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️

OP posts:
thisisasurvivor · 20/07/2024 23:13

MikeRafone · 20/07/2024 16:20

Could you move into the property and rent your home out, thus giving you an income to spend on the house

Yes

I had this exact thought earlier

And for around 12-18 months I will slowly do it up

OP posts:
thisisasurvivor · 20/07/2024 23:14

rwalker · 20/07/2024 16:15

I’d be tempted to air bnb it rather than rent it out
there’s changes afoot where you’d struggle to get possession of it back

renting isn’t the golden goose people think it is
if you got £800 a month take off tax
you’d have to have
LL insurance
commercial house insurance
Maintenance
gas and electric checks and certificates
agents fees
LL registration fee
take all that off and divide by 3 you’ll be lucky to get £120 a month each
not to mention if you get a shit tenant cost you £1000’s to evict and you’d have to pay for any damage they left behind

Very helpful thank you

OP posts:
thisisasurvivor · 20/07/2024 23:15

@ForestAtTheSea what a helpful post

Have jotted down many of these suggestions 🙏❤️🙏❤️🙏❤️

OP posts: