When two people meet and fall in love some of the tedious tasks can get ignored. This is about Michael (Name changed to protect the landlord) and what happened when he fell in love and didn’t deal with his flat.
Michael had his own flat in North London and was happily living in his flat alone. When he met Caroline all of that changed. Caroline lived in Bournemouth in her own house. Suddenly Michael’s flat didn’t seem so appealing and he would spend more time with Caroline.
One day Michael walked out of his flat and decided not to return. He didn’t do anything with the property. He continued to pay the mortgage and bills but that was all. The flat was left year after year. It was easy to ignore, the flat didn’t call him and say you haven’t visited, there was no major issue that would have needed Michael to go to the property.
Eventually after ten years Michael decided that it was time to do something about the flat. Michael’s friend Dave recommended he contact Purple Hat Property, which he did.
He sent us the keys and we went to take a look. Oh boy!
The bathroom and kitchen were black with mould. There had been water damage from above and the living room and bedroom ceiling were falling down in places. The bathroom also showed signs of water damage with the ceiling collapsing and the sanitary appliances were dirty and rotting. The windows were rotten and the curtains had perished and fell apart in our hands. There were pigeons roosting on the window sills.
The first thing we did was prepare a report explaining the state of the property with various options for Michael to consider and a guide of prices.
When the repairs and restoration was agreed we then drew up a specification of works and offered it to tender with three reputable contractors. With a clearer idea of the total cost, our next job was help Michael secure some finance for the project, with our contacts he was able to arrange the finance.
Finance in place, work commenced.
One of the suggestion we made was to open the kitchen into the living / dining room, which was agreed by Michael. Some people like open plan living and others don’t so it comes down to a personal choice. We felt it would make to the living and dining area larger and bring in more light
The windows were replaced with uPVC and the interior doors were also replaced.
The ceilings and walls were repaired and replastered.
New lighting was fitted and the storage heaters were replaced with modern efficient heaters.
The kitchen and bathroom were ripped out. New units were installed in the kitchen. The bathroom was renovated with new sanitary ware, tiles and shower.
Michael then visited the flat for the first time since leaving ten years before. He let us know what he wanted to keep. We then organised for all his unwanted belongings to be removed.
Once all the renovations were complete the flat was redecorated and new flooring was laid throughout the flat.
Michael only had to come to the flat once to decide on what to keep and he had to organise the finance, the rest was overseen and project managed by Purple Hat Property.
In August 2015 his first tenant moved in and now three years later she is still there. Michael has repaid all the finance and is now enjoying a regular income from the property. As an absent landlord, having the property fully managed by us is something he doesn’t have to worry about.
Falling in love and walking away is not the best course of action. If Michael would have contacted us when he moved in with Caroline we could have rented the flat immediately and he would have been enjoying the rental income.
He would have made some improvements over the years but if the flat was lived in it wouldn’t have got into such a state of disrepair. On top of that Michael probably would have earned an additional £40,000.
If you have friends with property, which are not being used because they have moved in with their partner. Get them to contact us and we can get their property working for them.
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