Have just lost a customer. Always lamentable and something that happens in business but like any conscientious business owner I feel it when it does occasionally happen.
Have just lost a customer. Always lamentable and something that happens in business but like any conscientious business owner I feel it when it does happen.
A retired couple who are good landlords and perfect customers are moving away from the area down to the South West to a lovely part of the world. They are selling their home in a road near Uxbridge and are buying down near Dorset.
With family in the Hayes who they want to see often, they want to keep a base in the area and their nice rental flat will become a base when they move away. So when the current tenant vacates they are not looking for a new person to move in.
Of course in my head I did do the maths as to the cost of a hotel for a week a month they might want to use the property versus rental income and it’s about the same but having the convenience of your own space is something I understand. I didn’t raise the point with them.
But having made the investment a few years ago the property has given them options and who knows they might well decide to let it again in the future – but if not that’s fine too. I respect their decision.
Owning the property also means they stay invested in the London market. House prices in the South West rose by 6.8% over the last year (a little higher than the UK average) but prices in London rose by 12.4% in the same time.
I am pleased that the buy to let property which I have assisted with has given them options and choices for their future and played a small part in them enjoying their retirement.