Regeneration area, Can't rent can't sell & now can't insure anyone else in a simular pos

0 Thanks
7 Posts
12 years ago
My tenants vacated my 3 bed town house ( 695pcm )in June 2010 after being burgled, 3 days later gypsys broke into the property and striped it naked totally distroying the property every piece of copper has been removed wiring c/h ect, this has been one of the last properties to be lived in, in the area the other surounding properties have been pulled down or boarded up by the council waiting demolition, the loss adjuster has agreed to £20,000 to re-instate the property or as an adjustment on whatever price the council agree to purchase at, the insurers will only pay out to a builder who re-instateds or as part of the council settlment and only to the contition it was at inspection, there is little point in re-instating the property as nobody would now want to live the, the property has now been vacant for more than 30days (11 months) I have paid £800 to shutter the property up I have spent 10 months trying to get a purchase price from the council, 3 weeks ago the property was again broke into 3 of the shutters where stolen the house was set on fire,I have had no rent for more than 11 months, simular properties values in the area were in the region of 85/90k the councilo have now offered me 25k for my property as they know I have no other options

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £85 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.