I
izscan
Guest
i'm in the middle of buying an investment property and it was mentioned to me to let it through social welfare. is this a good idea ? how would i go about it ?
SW tenants are the riskiest end of the market in my view. You can be lucky, but the risk is that you will get a tenant that is disfunctional and gives you loads of grief -- don't forget that the SW system caters for tenants that usually don't work and may have problems of other sorts.
It is tempting to deal with a tenancy that is long term etc, but for me anyway life is far too short for the kind of grief that this sector can give you.
The private sector and SW tenants are not a good match in urban areas. The regulation is dreadful and the risks are high. Ask the audience.
You need scale and an interventionist approach to get this to work. If you only have 1/2 properties which are single tenancies, you lack diversification if you take a hit from a troublesome tenant.
. imho this attitude is pure snobbery!
Lightswitch i agree with you.We all have to play our part in todays society
Have to say I find the attitude on this thread somewhat disturbing. I moved abroad a few years ago and let my house out to a young single parent. Had no difficulties what so ever. I also know several others who have let their properties to people on Social Welfare including non nationals, also without any issues. imho this attitude is pure snobbery!
Great thread. Makes me realise how good my SW tenant is! Never any hassle with her - heading for three years. Considered raising the rent this time - decided against it. She's too good to lose.
Have to say I find the attitude on this thread somewhat disturbing. I moved abroad a few years ago and let my house out to a young single parent. Had no difficulties what so ever. I also know several others who have let their properties to people on Social Welfare including non nationals, also without any issues. imho this attitude is pure snobbery!