ASK220: Which location should I choose for a buy-refurb-refinance strategy? PLUS: Can I charge my tenant for this damage?

The Property Podcast

This week on Ask Rob & Rob, the guys are helping one caller decide on which location they should be looking at, and a landlord who’s got damp issues in his property.

Our first caller, Harry from Bristol, is currently preparing to make his first property investment. He’s only interested in receiving cash flow at the moment, so his strategy is buy, refurbish and refinance.

He’s in the process of scouting for locations so he’s turned to Rob & Rob for advice. He’s keen on the North West or South Wales however, South Wales is closer to home.

With Harry's strategy, should he be investing in an area closer to home or taking the risk and investing in the popular North West?

The second question this week comes from Boris. Boris has a tenant that is due to vacate his property and has discovered that there’s quite a bit of mold and damp. This is partly due to how the property is built, with lack of ventilation.

He wants to know if he’s entitled to ask the tenant to pay for redecoration where it’s needed in the property.

In addition to this, Boris mentioned he wants to change to a new lettings agent, but what happens about the money held in deposit?

So, Boris wants to know if both letting agents new and old can work together to get the work on the property completed. Can he charge the tenants or will he have to pay himself?

Tune in to find out...

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