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Box room in London sells for £80K
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=24944		 Page 1 of 1
Author:  jonbwfc [ Wed Jan 20, 2016 2:55 pm ]
Post subject:  Box room in London sells for £80K
'Cheapest flat' in London sells for £79,000

[LIFTED]'s sake people.
Author:  hifidelity2 [ Wed Jan 20, 2016 3:42 pm ]
Post subject:  Re: Box room in London sells for £80K
I'll have 2 :D
Author:  pcernie [ Wed Jan 20, 2016 5:11 pm ]
Post subject:  Re: Box room in London sells for £80K
Quote:
The buyer plans to rent out the property for six months of the year, and use it himself for the rest of the year.


See? There's a quarter of it paid off already ;)
Author:  TheFrenchun [ Wed Jan 20, 2016 5:16 pm ]
Post subject:  Re: Box room in London sells for £80K
I bet around 800 a month


Sent from my iPhone using Tapatalk
Author:  jonbwfc [ Wed Jan 20, 2016 5:47 pm ]
Post subject:  Re: Box room in London sells for £80K
pcernie wrote:
Quote:
The buyer plans to rent out the property for six months of the year, and use it himself for the rest of the year.

See? There's a quarter of it paid off already ;)

There was some discussion when it was put on the market - conclusion was you can't rent it out. It's too small to comply with the minimum legal requirements for a rental property, and there are also rules about being able to rent part of a building you don't have guaranteed access to (and as someone else owns the stairs...) If the buyer has actually done it with those intentions, more fool them.

Put it this way - if renting it out was that easy and that profitable, why was the previous owner selling it?
Author:  hifidelity2 [ Thu Jan 21, 2016 9:03 am ]
Post subject:  Re: Box room in London sells for £80K
jonbwfc wrote:
pcernie wrote:
Quote:
The buyer plans to rent out the property for six months of the year, and use it himself for the rest of the year.

See? There's a quarter of it paid off already ;)

There was some discussion when it was put on the market - conclusion was you can't rent it out. It's too small to comply with the minimum legal requirements for a rental property, and there are also rules about being able to rent part of a building you don't have guaranteed access to (and as someone else owns the stairs...) If the buyer has actually done it with those intentions, more fool them.

Put it this way - if renting it out was that easy and that profitable, why was the previous owner selling it?

I didn't know there was a legal min requirement
Also the previous owner may have just needed the cash
Author:  TheFrenchun [ Thu Jan 21, 2016 9:25 am ]
Post subject:  Re: Box room in London sells for £80K
hifidelity2 wrote:
jonbwfc wrote:
pcernie wrote:
See? There's a quarter of it paid off already ;)

There was some discussion when it was put on the market - conclusion was you can't rent it out. It's too small to comply with the minimum legal requirements for a rental property, and there are also rules about being able to rent part of a building you don't have guaranteed access to (and as someone else owns the stairs...) If the buyer has actually done it with those intentions, more fool them.

Put it this way - if renting it out was that easy and that profitable, why was the previous owner selling it?

I didn't know there was a legal min requirement
Also the previous owner may have just needed the cash


The min requirements are set per borough/ council. It's about 30sqm in tower hamlet. This is tiny! ( I bet they can still air bnb though, like a strange hotel where different owners own each room)
Author:  Spreadie [ Thu Jan 21, 2016 1:17 pm ]
Post subject:  Re: Box room in London sells for £80K
One born every minute.
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