"LANDLORDS AND TENANTS"

Evening Post, Volume CXI, Issue 39, 16 February 1931, Page 8

"LANDLORDS AND TENANTS"

(To the Editor.) Sir,—Oue would have thought that your recent editorial would have silenced the "know-alls" on the above subject, typified by "W. 8." in last Saturday's issue. Without any sane examination of costs, "W. 8." prates about "excessive rents," "5s or 10s reduction," "flat owners, most o£ whom get sufficient rent for one flat to pay all expenses, the rent of the other being profit," etc. Now, if this be so, why is not "W. 8." a flat owner? Finance should be easy on a "W. 8." prospectus. But, intelligent financiers know that a seven-roomed wooden house in two flats, faithfully built according to a reputable architect's specifications, will cost about £1600, and a satisfactory section, say, £250, which works out at 7% per cent, at £138 15s, added to which are insurance, up to only about seven-eighths of the cost of the building, rates, upkeep, vacant periods, advertising, agents' fees, painting and papering at least once every five years, valuation and mortgage renewals, every three or five years, depreciation, etc., which would most certainly involve the owner in commitments of about £3 5s per week. Now I am prepared to sell to "W. 8." one, two, or three double flats on the valuation as assessed by oue of Wellington's leading property valuers on most moderate terms., and, with your permission, Sir, I invite "W. 8." to furnish you in strict confidence and without prejudice with the name of one of the many landlords whom he affirms is exacting the profit as quoted above. In "W.B.'s" superior judgment he pointed out what fools we landlords are, and, as one o£ that ilk, I invite this perspicacious person to accept my offer and live in his own fiat free gratis and for nothing. Speak up, "W. 8."—1 am, etc., AREN'T WE ALL.