Rent to Rent

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Re: Rent to Rent

Postby Jo King » Mon Dec 23, 2013 9:18 pm

Any idea how he is likely to make the amount of money needed Ahm?
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Re: Rent to Rent

Postby Ahmwaah » Mon Jan 13, 2014 4:00 am

Jo,

Just seen your reply.

Sell a property I'm told by a third party source.

I'm really not involved that much.

You know me - I like to avoid drama - and focus on my stuff.

I've just told him "get your shoot together. Pay everybody back. Then kick on".

Let's see what happens.
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Re: Rent to Rent

Postby Jo King » Sun Jan 19, 2014 5:56 pm

The slow motion catastrophe that is 'Rent 2 Rent' ...

http://nearlylegal.co.uk/blog/2014/01/confederacy-of-dunces/

And still there are stupid, greedy people who live in denial over this.
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Re: Rent to Rent

Postby Nick » Sun Jan 19, 2014 8:15 pm

Jo,

I preferred the Blog title "A Confederation of Dunces"! It does sum up the issue neatly, but it could be argued that the fault doesn't lie with the practitioners of R2R but the legal draftsmen who have made it difficult to operate within the legal framework of housing law.

Many of us (yourself in particular) have identified and discussed exactly the points which this blogs summarises in one place, and it is great that such an authoritative source as nearly legal should confirm what we have been saying for a couple of years. It will be interesting to see the response from the supporters of Dan Burton (I'm thinking of Castledene and Property Fortress) after such a direct criticism of Unida Place.
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Re: Rent to Rent

Postby Jo King » Thu Apr 17, 2014 11:30 pm

Ahmwaah wrote:Jo,

Just seen your reply.

Sell a property I'm told by a third party source.

I'm really not involved that much.

You know me - I like to avoid drama - and focus on my stuff.

I've just told him "get your shoot together. Pay everybody back. Then kick on".

Let's see what happens.


So that didn't seem to work then Ahm - any realistic suggestions for your mate who is now alleged to have racked up £140k of debts to tenants by continuing to 'Kick on' with other peoples' money.
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Re: Rent to Rent

Postby LisaOrme » Thu Apr 17, 2014 11:32 pm

He's now decimated his third agency!!

I find him an utter disgrace to the industry frankly.
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Re: Rent to Rent

Postby Nick » Fri Apr 18, 2014 10:38 am

LisaOrme wrote:He's now decimated his third agency!!


Has his Whiteways agency closed? I guess if someone has never had a job they aren't equipped to run a business. People in business often criticise education, and say it's irrelevant to the skills necessary to run a business, but I think that the ability to go to Uni & get a degree is indicative of a winner's mentality, and when Burton dropped out of LSE he indicated an inability to succeed at things, which he has now demonstrated in practice several times. The man needs to carry a health warning, but then he isn't the only one.

I read the latest Channel 4 article and I had an element of cynicism about the journalism - whether they have dramatised, is that a new £140K on top of the £60,000 he trousered? (i.e. £200K in total), or is it a revision of the £60K upwards? Or is it a theoretical estimate?

The new aspects of this article don't just apply to R2R of course, and in general terms I think it's very significant, and will probably lead to major changes in legislation, and be used as a powerful argument for the regulation of letting agents (certainly) and landlords (possibly). Where R2R is relevant as part of the problem is that like letting agents there is no entity of substance to be held accountable for the deposit money like there is when the landlord owns the property.
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Re: Rent to Rent

Postby Jo King » Fri Apr 18, 2014 1:44 pm

Yes Nick - we can expect more regulation to follow, which only decent Landlords and Agents will abide by, leaving the Dan Burton's of the world doing exactly what they like with little accountability it seems.

We need realistic jail sentences for theft and fraud, not more regulation.
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Re: Rent to Rent

Postby Nick » Sat Apr 19, 2014 8:13 am

Jo King wrote:
We need realistic jail sentences for theft and fraud, not more regulation.



ROFL
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