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Air BnB - How will it end?


Wight Flight

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15 minutes ago, Malthus said:

I’ve a mate who bought 2 flats in Edinburgh with mortgages to ABNB , apparently everyone is doing it and he had to get in quick as it’s driving up the price of city centre flats 

More than enough triggers there for me to predict bankruptcy 

This is the thing.

What sort of mortgages and where?

Thats important as banks wont (hsbc v strict loans) or cant (mmr rules restricts leverage to max 4x house income - expenses).

So my guess is they drawing down wierd n wonderful credit lines - crowd funding i.e. non bank lending.

Edinburghs up their with Barca for Airbnb plague. Simpke fix - Edin council enforce max 30days limit.

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2 minutes ago, spygirl said:

This is the thing.

What sort of mortgages and where?

Thats important as banks wont (hsbc v strict loans) or cant (mmr rules restricts leverage to max 4x house income - expenses).

So my guess is they drawing down wierd n wonderful credit lines - crowd funding i.e. non bank lending.

Edinburghs up their with Barca for Airbnb plague. Simpke fix - Edin council enforce max 30days limit.

Not sure but had assumed BTL mortgage and breaking the terms 

Gotta bend the rules to get rich Rodney 😜

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Just now, Malthus said:

Not sure but had assumed BTL mortgage and breaking the terms 

Gotta bend the rules to get rich Rodney 😜

Btl mortgages are virtually deas. Basically you can just borrow against your own equity i.e lender want security for full amount.

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Just had a look.

One, theres few people doing btl loans these days. None that youd know.

The cost and apr are massive.

http://www.kentrelianceforintermediaries.co.uk/buy-to-let/standard

85Ltm - highest tgey go.

2.5% fees ffs. 5.2% apr.

My guess is svr ramps up, so theyll get that 2.5% again.

100k of btl - 2500 fee plus 5500 interest.

S24 effectively reduces your rental income  by 30% to 50%

Absolutely brutal. Its all their in numbers. Can they do the sums? Nope.

 

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Spotted an airbnb-able flat in Belfast recently for about 100K.

Think I'd get about a grand a month in airbnb bookings based on what else is in the area and how popular they are.

Which sounds great but that's a part time job and involves me going in and cleaning a flat say a dozen times a month, and you have your airbnb and utilities bills costs. And if someone messes the place up you have to get it fixed instantly for the next booking arriving.

More I thought of it more I thought it would put me in an early fucking grave - Belfast's answer to Bazil Fawlty having to deal with unreasonable customers (there's always some).

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8 minutes ago, JoeDavola said:

Spotted an airbnb-able flat in Belfast recently for about 100K.

Think I'd get about a grand a month in airbnb bookings based on what else is in the area and how popular they are.

Which sounds great but that's a part time job and involves me going in and cleaning a flat say a dozen times a month, and you have your airbnb and utilities bills costs. And if someone messes the place up you have to get it fixed instantly for the next booking arriving.

More I thought of it more I thought it would put me in an early fucking grave - Belfast's answer to Bazil Fawlty having to deal with unreasonable customers (there's always some).

https://www.google.co.uk/amp/s/amp.belfasttelegraph.co.uk/news/northern-ireland/40k-of-damage-caused-to-luxury-belfast-flat-after-teen-organises-party-on-snapchat-38017906.html

 

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Just now, Malthus said:

Aye I'd seen that!

I mean the gaff was near my office so I could probably do most of the work during office hours but even so I think it would end up a major headache.

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44 minutes ago, JoeDavola said:

Spotted an airbnb-able flat in Belfast recently for about 100K.

Think I'd get about a grand a month in airbnb bookings based on what else is in the area and how popular they are.

Which sounds great but that's a part time job and involves me going in and cleaning a flat say a dozen times a month, and you have your airbnb and utilities bills costs. And if someone messes the place up you have to get it fixed instantly for the next booking arriving.

More I thought of it more I thought it would put me in an early fucking grave - Belfast's answer to Bazil Fawlty having to deal with unreasonable customers (there's always some).

Is Belfast 'In' at the mo? Will it last??

Lets do somes.

100k.

20k down, 80k IO BTL mortgage.

1600 fees, 4k/year interest.

Split fee over 2 years so ~70/m + 350/m IR

Then £100 cost each  change over, 4 changes over a month - £400 in up keep costs.

There's not a lot of wiggle room.

 

 

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6 minutes ago, spygirl said:

Is Belfast 'In' at the mo? Will it last??

Lets do somes.

100k.

20k down, 80k IO BTL mortgage.

1600 fees, 4k/year interest.

Split fee over 2 years so ~70/m + 350/m IR

Then £100 cost each  change over, 4 changes over a month - £400 in up keep costs.

There's not a lot of wiggle room

Belfast does seem to be in, for reasons that elude me. Game of Thrones and Titanic are the two big tourist draws at the moment (seriously).

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unregistered_guest
4 hours ago, Malthus said:

Gotta bend the rules to get rich Rodney 😜

Bend the rules?

Sounds more like taking the entire rulebook, incinerating it on a barbecue and flushing its ashes down the bog.

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15 minutes ago, unregistered_guest said:

Bend the rules?

Sounds more like taking the entire rulebook, incinerating it on a barbecue and flushing its ashes down the bog.

I’ve never met anyone who was both rich and honest 😜

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Virgil Caine
23 hours ago, Malthus said:

Not sure but had assumed BTL mortgage and breaking the terms 

Gotta bend the rules to get rich Rodney 😜

Property let’s is not the area I would choose to cheat the taxman. Too fixed. Too visible.

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https://www.theguardian.com/uk-news/2019/apr/22/nothing-affordable-buying-home-now-just-dream-young-couples-older-workers-arran-tourism-booming

https://www.theguardian.com/society/2019/apr/22/housing-crisis-on-arran-leaves-hundreds-of-islanders-without-homes

Assuming scots FHL are like English FHL then those houses pay no council tax and no rates. They also get given a tax break on offsetting income against expenditure.

This is extremely wrong.

There is no housign crisi in Arran or other places blighted by FHL. There's tax allowance crisis.

All FHL needs to pay 2x CTAX and remove the ability to offset rental income - these business do not employ anyone FT, they are fucking blight.

 

Data given to the Guardian by North Ayrshire council, Arran’s local authority, shows nearly a quarter of Arran’s 3,109 homes are either second homes, holiday homes or lying empty – a figure that puts Arran second only to St Ives in Cornwall, where the council has now banned the building of new holiday homes.

Tax the fuckign cunts FFS.

 

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5 hours ago, Virgil Caine said:

Property let’s is not the area I would choose to cheat the taxman. Too fixed. Too visible.

Oh idiot io btl -

They wont know about me. I used my mums address.

Did you have to provide your name, dob and NI number for the mortgage?

Yes......

Dr moriaty has nothing on them.....

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On 21/04/2019 at 13:40, spygirl said:

This is the thing.

What sort of mortgages and where?

Thats important as banks wont (hsbc v strict loans) or cant (mmr rules restricts leverage to max 4x house income - expenses).

So my guess is they drawing down wierd n wonderful credit lines - crowd funding i.e. non bank lending.

Edinburghs up their with Barca for Airbnb plague. Simpke fix - Edin council enforce max 30days limit.

Correct. There are parts of the town (Leith Walk springs to mind) which are just turning into ghettos of AirBnBs and student accommodation.

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On 23/04/2019 at 10:05, Craig said:

Correct. There are parts of the town (Leith Walk springs to mind) which are just turning into ghettos of AirBnBs and student accommodation.

https://www.bbc.co.uk/news/business-47910700

Data analysed by the So-Called BBC suggests that listings in Edinburgh doubled in three years, and shows a fourfold increase in spaces in London since 2015.

Edinburgh City Council has called for licensing and London councils want a registration scheme for hosts.

Airbnb said it led the way on "clear and proportionate" rules.

Easy. Planning permissions required for all AirBnb dwellings. Rates payable. Done.

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Better to just ban it entirely. I don't know if I'm a snob but the thought of binning off Travelodge just to save £5 and staying in someone's filthy spare bedroom doesn't appeal.

A family member has converted their basement into a windowless bedroom with a sink and charges £35 a night. Why the fuck would anyone pay that when Days Inn is the same price?

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2 minutes ago, One percent said:

Oh, oh, where do I book?  xD

A small family run unit of just 3, myself (sharon) daughter aged 12 (storm) and partner (warren). All profits raised go directly to the animals

Bet they dont ...

 

We are a meat free zone so please respect that. Sheep are herd animals so experiences can only be booked for two or more people. Children under 10 share a sheep with their parents

Sheep are fuckign stupid.

 

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One percent
1 minute ago, spygirl said:

A small family run unit of just 3, myself (sharon) daughter aged 12 (storm) and partner (warren). All profits raised go directly to the animals

Bet they dont ...

 

We are a meat free zone so please respect that. Sheep are herd animals so experiences can only be booked for two or more people. Children under 10 share a sheep with their parents

Sheep are fuckign stupid.

 

These people are fucking stupid. Who calls their daughter storm?  o.O  they are not locals are they. 

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Right this is hilarious....

She lives near a mate - its one of these isolated small hodings on the moor - basic farmhouse in a swamp with noone near.

'Oh its idyllic say stupic cunt selling up her London flat'

I guess theres a sniff of London money ....

Anyhow, theres another mental  woman in Scabby, who runs Calf cafe down bottom of Eastborough.

Parents - point your girls to this post and tell them to have kids, otherwise this is how theyll turn out.

https://www.facebook.com/pg/dukebullock.calf/posts/

I've had a complete rant about the donkeys from someone who supported Calf. This subject has been mentioned before but maybe others would like to add their comments? Feel free to message if you want your comment put up anonymously.

From anon.
WHY, WHY, WHY does that Sharon talk about the donkeys as if they were rescued from a life of hell before she got her grubby little hands on them?
Mickey came with a handful of animals from a petting farm. The only reason he's there
is because Sharon HAD HAD HAD to have an alpaca.
His best friend was Kylie the cow, whose best friend was Willow a sheep. But not for long. Could Sharon leave them together? Could she hell as like. She split them and in doing so HAD HAD HAD to have others like them. Cue three (now two because one's dead) more alpacas and a shetland pony. Not because she knows a thing about equines but because in her little world everything has to be wrapped up in a tasteless little bow to make her look all knowing and intelligent. The shetland lasted a weekend and was carted off to someone who offered it a proper home. Then the hunt for Bob began. He came from Whitby donkeys where he spent his summers walking the beach and putting up with hugs and attention from kids and visitors.
Both donkeys were used to hugs from people so why, after a year in Sharon's tender well manicured hands did they become head shy and people shy????
Videos existed of her and Storm running in the field with Mickey and co and screaming like utter banshees. Could that be the reason?
STOP pretending that either donkey had a problem before you got your hands on it, Sharon. IF they have problems now, it's
because they've landed in hell. 1f641.png?_nc_eui2=AeExF0cv9R0E4bmpAu907

THEY ARE FUCKIN ANIMALS.

And Im includign the thick menopausal bints i nthat.

 

 

 

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One percent
2 minutes ago, spygirl said:

Right this is hilarious....

She lives near a mate - its one of these isolated small hodings on the moor - basic farmhouse in a swamp with noone near.

'Oh its idyllic say stupic cunt selling up her London flat'

I guess theres a sniff of London money ....

Anyhow, theres another mental  woman in Scabby, who runs Calf cafe down bottom of Eastborough.

Parents - point your girls to this post and tell them to have kids, otherwise this is how theyll turn out.

https://www.facebook.com/pg/dukebullock.calf/posts/

I've had a complete rant about the donkeys from someone who supported Calf. This subject has been mentioned before but maybe others would like to add their comments? Feel free to message if you want your comment put up anonymously.

From anon.
WHY, WHY, WHY does that Sharon talk about the donkeys as if they were rescued from a life of hell before she got her grubby little hands on them?
Mickey came with a handful of animals from a petting farm. The only reason he's there
is because Sharon HAD HAD HAD to have an alpaca.
His best friend was Kylie the cow, whose best friend was Willow a sheep. But not for long. Could Sharon leave them together? Could she hell as like. She split them and in doing so HAD HAD HAD to have others like them. Cue three (now two because one's dead) more alpacas and a shetland pony. Not because she knows a thing about equines but because in her little world everything has to be wrapped up in a tasteless little bow to make her look all knowing and intelligent. The shetland lasted a weekend and was carted off to someone who offered it a proper home. Then the hunt for Bob began. He came from Whitby donkeys where he spent his summers walking the beach and putting up with hugs and attention from kids and visitors.
Both donkeys were used to hugs from people so why, after a year in Sharon's tender well manicured hands did they become head shy and people shy????
Videos existed of her and Storm running in the field with Mickey and co and screaming like utter banshees. Could that be the reason?
STOP pretending that either donkey had a problem before you got your hands on it, Sharon. IF they have problems now, it's
because they've landed in hell. 1f641.png?_nc_eui2=AeExF0cv9R0E4bmpAu907

THEY ARE FUCKIN ANIMALS.

And Im includign the thick menopausal bints i nthat.

 

 

 

Fucking loon. Why did I guess they were escapees from London?  Ffs. 

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2 hours ago, spygirl said:

A small family run unit of just 3, myself (sharon) daughter aged 12 (storm) and partner (warren). All profits raised go directly to the animals

Bet they dont ...

Sheep need a new TV, sheep need a new Iphone, sheep need a holiday*.

[* with three minders.  Oh, damn -- Sheep forgot to get a passport -- luckily one of the family can go instead, so not a total loss]

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