The Robs are back again for another fantastic episode of Ask Rob & Rob where they’re talking about property crashes and tenants staying too long.
First up we have Pete who has a question about the 18-year property cycle. He’s clearly been listening to our podcastsand taken the university course, as he’s correctly identified that we’re about 7 years away from the next property market crash.
Pete already has two properties that he bought for around £100,000 each and is hoping that in the next 7 years they’ll have pretty much doubled in value.
If this was just before the next market crash, would it be wise for him to sell up pre-crash? For Pete, his properties are all about the monthly rental income, however he doesn’t want to miss out on that potential capital growth.
So should he sell up and pocket the capital growth? Or should he keep hold of his properties but run the risk of being back to square one?
Find out what The Robs have to say on this topic.
Next up we have Bartholomew who wants to know if he should be worried about his tenant staying too long.
He has a tenant who’s been in his property for the last seven years and is wanting to know if this tenant has any long-term tenancy rights.
He’s also looking at purchasing a property that’s had the same tenants for the past three years. If they decided to stay long-term, do they qualify as sitting tenants?
So what should Bart do? Should he try and evict these long-term tenants? Or should he see it as a blessing that they’re dependable who haven’t caused him any issues for the past 7 years?
Find out on today’s Ask Rob & Rob.
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