The Mobile Contractor's lodging lifestyle/options.
I’d appreciate the fellow community’s insights on the options a contractor can lodge themselves. I tend to change every 3 /6 months contracts ( I get pissed off ) meaning I change the place I live in regularly. Not having permanent residence this means changing the place I rent.
Problem:
Gumtree.com , rightmove.co.uk are full of nice studios going about 800 / month . The problem is they ask you for a 6 month contract and 1 month leave notice ( you all filthy Landlords know that ) . So if you are in a 3 months contract ( orr get sacked) , at the contract end you pack your backs and lose potentially 1500 GBP. ( deposit for the studio plus some rent residue ) .
I have lost a solid amount in deposits /rent residues due to this.
So what to do ?
Solution 1:
If you mange to find someone to replace you in the studio you are leaving behind , you lose nothing. But this has proven very hard ! Impossible.
Solution 2:
I have seen hotels/bedsits advertised on the internet for about 33 pounds , but in reality I have never encountered one. 33 Pounds works out about 1000 pounds /month which is quite acceptable. If you will be losing up to 1500 in deposit/residue then going in a hotel can save you money. 40GBP + hotels seems too of a waste for long-term stay – months.
Solution 3:
There are some deserted villages ( like the one I am in ) where the Landlords are so desperate they will agree on a rolling contract* with 2 weeks leave notice. ( problem is most underwear models sign you off immediately )
Solution 4:
My longterm/wannabe solution seems to be – getting 4 – 5 BTL studios at key places in the UK. ( close to all motorways ) . Rent them all out. When a contract comes up , give the closest tenant 1 month notice to get out. ( Yes I am that bad ). During the first month spend circa 2 K in a hotel.
* I have invented the renting term “rolling contract” where you ask the landlord to stay as long as you need but have to give them 2 weeks leave notice. In reality this meant for me – losing the 2 weeks rent since I would leave a place immediately after I have secured a new contract.
Problem:
Gumtree.com , rightmove.co.uk are full of nice studios going about 800 / month . The problem is they ask you for a 6 month contract and 1 month leave notice ( you all filthy Landlords know that ) . So if you are in a 3 months contract ( orr get sacked) , at the contract end you pack your backs and lose potentially 1500 GBP. ( deposit for the studio plus some rent residue ) .
I have lost a solid amount in deposits /rent residues due to this.
So what to do ?
Solution 1:
If you mange to find someone to replace you in the studio you are leaving behind , you lose nothing. But this has proven very hard ! Impossible.
Solution 2:
I have seen hotels/bedsits advertised on the internet for about 33 pounds , but in reality I have never encountered one. 33 Pounds works out about 1000 pounds /month which is quite acceptable. If you will be losing up to 1500 in deposit/residue then going in a hotel can save you money. 40GBP + hotels seems too of a waste for long-term stay – months.
Solution 3:
There are some deserted villages ( like the one I am in ) where the Landlords are so desperate they will agree on a rolling contract* with 2 weeks leave notice. ( problem is most underwear models sign you off immediately )
Solution 4:
My longterm/wannabe solution seems to be – getting 4 – 5 BTL studios at key places in the UK. ( close to all motorways ) . Rent them all out. When a contract comes up , give the closest tenant 1 month notice to get out. ( Yes I am that bad ). During the first month spend circa 2 K in a hotel.
* I have invented the renting term “rolling contract” where you ask the landlord to stay as long as you need but have to give them 2 weeks leave notice. In reality this meant for me – losing the 2 weeks rent since I would leave a place immediately after I have secured a new contract.
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