0:00:02 > 0:00:05There is a failure to provide enough housing for the people of this country.
0:00:05 > 0:00:09But landlords haven't made this problem.
0:00:09 > 0:00:12They've just got wealthier on the back of it.
0:00:13 > 0:00:15Once a nation of homeowners,
0:00:15 > 0:00:20there are now over 11 million people renting in Britain.
0:00:20 > 0:00:24And most of the rent is being collected by private landlords.
0:00:24 > 0:00:28My philosophy is buy low, rent high.
0:00:28 > 0:00:32The truth is, we buy property for one reason and one reason only,
0:00:32 > 0:00:34and that's to make money.
0:00:34 > 0:00:37But many landlords have no idea what it's like
0:00:37 > 0:00:40to live in the properties they profit from.
0:00:40 > 0:00:41When you walk in the house,
0:00:41 > 0:00:44first thing you can smell is the mould from this room.
0:00:44 > 0:00:47For a pensioner to sleep in these kind of conditions,
0:00:47 > 0:00:49I think it's just disgusting.
0:00:49 > 0:00:52And they can't always rely on the tenants to speak up.
0:00:52 > 0:00:55They have the power to say, "Right, you've nagged too much, that's it, you're gone."
0:00:55 > 0:00:58I can't make it better for you till you say something.
0:01:00 > 0:01:02So to experience it for themselves,
0:01:02 > 0:01:06these landlords have agreed to swap their home comforts
0:01:06 > 0:01:08for a week in their tenants' shoes.
0:01:08 > 0:01:12It's very easy as a landlord to completely detach yourself from your property,
0:01:12 > 0:01:15not even to think about what it would be like to live there.
0:01:15 > 0:01:19- I'm quite excited now, it's like going on holiday.- Oh, goodness.
0:01:19 > 0:01:21To see the properties through their tenants' eyes.
0:01:21 > 0:01:24- Cor, smells a bit.- Oh, my goodness.
0:01:24 > 0:01:26What on earth is this?
0:01:26 > 0:01:29We should have been packing for the blasted Arctic.
0:01:29 > 0:01:31And live on their budgets.
0:01:31 > 0:01:32Money, money, money.
0:01:32 > 0:01:35How are we going to eat on 54 quid?
0:01:35 > 0:01:38And once they've lived the realities of renting for themselves...
0:01:38 > 0:01:41We feel like we've lived like paupers.
0:01:41 > 0:01:44A bit upset, really. I think it makes me feel vulnerable.
0:01:44 > 0:01:47..will it make them change their properties,
0:01:47 > 0:01:49or how they view their tenants?
0:01:49 > 0:01:52What's been building up underneath the surface
0:01:52 > 0:01:56is knowing that I'm responsible for someone else's living conditions.
0:02:02 > 0:02:05I think the expression "Let it and forget it" springs to mind.
0:02:05 > 0:02:08Did you or did you not say that at one point?
0:02:08 > 0:02:10- I can't remember.- Oh, come on.
0:02:10 > 0:02:12Yeah.
0:02:12 > 0:02:14Come on! It used to be your mantra.
0:02:14 > 0:02:18- Did it?- Yeah, "Marc, let it and forget it."- Yeah.
0:02:19 > 0:02:21You can't count on that profit.
0:02:21 > 0:02:24You want to be making profit without that room, ideally.
0:02:24 > 0:02:26Peter and Marc are a father-and-son team
0:02:26 > 0:02:30with a property empire worth over £7 million.
0:02:30 > 0:02:34If you can use that room, it's gravy on top, you know?
0:02:34 > 0:02:35Coolio.
0:02:35 > 0:02:39This pot's really particularly nice, I think, isn't it?
0:02:39 > 0:02:43- All those colours. - We've done really well with the flowers this year.- Yeah.
0:02:43 > 0:02:47When I first started investing in property, it was for a pension pot.
0:02:47 > 0:02:52I never imagined it would actually grow as large a business as it is.
0:02:52 > 0:02:55Now retired from a career in civil engineering,
0:02:55 > 0:02:59Peter and his wife Jan can enjoy that growing pension pot.
0:02:59 > 0:03:02High Road to Leh. Black Golden Temple. Isn't that beautiful?
0:03:02 > 0:03:05What about looking at something that I've heard of?
0:03:05 > 0:03:06THEY LAUGH
0:03:06 > 0:03:08Everybody has to live within their means,
0:03:08 > 0:03:11and I have the freedom to live within my means.
0:03:14 > 0:03:1736-year-old Marc joined his dad ten years ago
0:03:17 > 0:03:19to help him grow the business.
0:03:19 > 0:03:22I just absolutely adore what I do for a living.
0:03:22 > 0:03:27When I was younger, I went from job to job to job, all office-based,
0:03:27 > 0:03:29and really hated it.
0:03:29 > 0:03:33Now I'm a landlord, well, it's just like night and day, really.
0:03:34 > 0:03:38It's just the best way of becoming wealthy.
0:03:38 > 0:03:40Some people are saving up for their first house.
0:03:40 > 0:03:42I've got 40.
0:03:44 > 0:03:47I think we need to do something with this, don't we?
0:03:47 > 0:03:49- What can you do with it, anything? - Mow it.
0:03:49 > 0:03:50THEY LAUGH
0:03:50 > 0:03:53The pair currently make £15,000 a month profit,
0:03:53 > 0:03:55thanks to their winning strategy.
0:03:55 > 0:03:57We'll find an area that's up and coming.
0:03:57 > 0:04:01We'll find a property that's a bargain, a bit tired.
0:04:01 > 0:04:03Have you seen the state of that, Dad?
0:04:03 > 0:04:05Going to make that into a shower room, yeah?
0:04:05 > 0:04:07We'll put the loo here and the basin in there.
0:04:07 > 0:04:09- It will work quite well, won't it? - Will do, yeah.
0:04:09 > 0:04:12We'll refurb it to a really high standard,
0:04:12 > 0:04:14and that way we can attract the young professionals,
0:04:14 > 0:04:16so we can get the highest rent possible.
0:04:19 > 0:04:22They focus their investments on London's East End
0:04:22 > 0:04:24and the Essex commuter belt.
0:04:24 > 0:04:27In east London, rents have gone up.
0:04:27 > 0:04:30For Dad and I, that's the same as us getting a pay rise,
0:04:30 > 0:04:33and really, that's what's made us wealthy.
0:04:33 > 0:04:36I remember once, I thought I'd chance my arm and see if I could
0:04:36 > 0:04:40charge an extra £100 over and above what other people were charging,
0:04:40 > 0:04:43and I was really surprised people were willing to pay it.
0:04:43 > 0:04:45Then all the other agents fell in line with that,
0:04:45 > 0:04:49so I was actually responsible for putting the rents up.
0:04:49 > 0:04:54One tenant who has experienced rent rises is 66-year-old Linda.
0:04:55 > 0:05:00Linda lives alone in this two-bedroom flat on the London-Essex border.
0:05:00 > 0:05:03She'd already been renting the flat for three years
0:05:03 > 0:05:04when Marc and Peter bought it.
0:05:04 > 0:05:06Over the last two years,
0:05:06 > 0:05:11the rent's gone up over £100 and my wages have only gone up about £40.
0:05:11 > 0:05:15Linda's rent is now £950 a month.
0:05:16 > 0:05:20- Hello.- Hi.- Hi, Nan.
0:05:20 > 0:05:24Despite the rent rises, Linda has not wanted to leave the flat.
0:05:24 > 0:05:27Her family live close by and visit her almost daily.
0:05:27 > 0:05:32- What's for dinner?- Chicken, Yorkshire pudding, baked potatoes.
0:05:32 > 0:05:33Splendid! My favourite!
0:05:33 > 0:05:35THEY LAUGH
0:05:35 > 0:05:39To keep putting the rent up all the time, it's not really fair.
0:05:39 > 0:05:41I mean, at the end of the day, all right,
0:05:41 > 0:05:43it might be close to a train station,
0:05:43 > 0:05:46but it's a little two-bedroom flat,
0:05:46 > 0:05:48loads of problems with the place.
0:05:48 > 0:05:51This tap don't work, and there's no water coming out of it.
0:05:51 > 0:05:53The hot tap, that is.
0:05:53 > 0:05:57All these rings are no good.
0:05:57 > 0:06:00This one, as we see, that's no good at all.
0:06:00 > 0:06:02When you walk into the house,
0:06:02 > 0:06:06the first thing you can smell is the mould from this room.
0:06:06 > 0:06:07This is my mum's room.
0:06:07 > 0:06:10The damp is really bad, as you can see, just under there.
0:06:10 > 0:06:13Me and my mum have scrubbed that so many times,
0:06:13 > 0:06:15but can't get rid of it, it comes back.
0:06:15 > 0:06:17The smell really lingers.
0:06:17 > 0:06:20Leather jacket, all eaten away with mould.
0:06:22 > 0:06:24I think it's just disgusting.
0:06:24 > 0:06:27For a pensioner to sleep in these kinds of conditions,
0:06:27 > 0:06:29it's not fair and it's not healthy.
0:06:31 > 0:06:34To help control the mould, when they took over the flat,
0:06:34 > 0:06:37Peter and Marc installed this unit.
0:06:37 > 0:06:41They put that in to stop the mould, it's not done nothing at all.
0:06:41 > 0:06:45And Linda even thinks it's affected her electricity bills.
0:06:45 > 0:06:51Since they put that contraption in, it's gone up by about £40 a month.
0:06:51 > 0:06:54As her wages can't cover the rent any more,
0:06:54 > 0:06:58Linda receives £120 a month in housing benefit.
0:06:58 > 0:07:03But even with this, Linda can now only afford to heat one room.
0:07:04 > 0:07:06The lounge.
0:07:06 > 0:07:10My mum's 66 years old, she's got osteoarthritis.
0:07:10 > 0:07:13The cold and damp does her no good whatsoever.
0:07:13 > 0:07:14It leaves her in a lot of pain.
0:07:14 > 0:07:17Sometimes she's too cold and her bones stiffen up
0:07:17 > 0:07:18and she can't get out of bed.
0:07:18 > 0:07:22Linda has been reluctant to complain to her landlords
0:07:22 > 0:07:23about the problems in her home
0:07:23 > 0:07:26because she is afraid of repercussions.
0:07:26 > 0:07:28He can just chuck me out any time.
0:07:28 > 0:07:31I haven't had a tenancy agreement in about 13 months.
0:07:31 > 0:07:33I did ask for one.
0:07:33 > 0:07:35I never received one.
0:07:35 > 0:07:37Without a fixed-term agreement,
0:07:37 > 0:07:42Linda can legally be evicted with just two months notice at any point.
0:07:42 > 0:07:44She lives every day worried that,
0:07:44 > 0:07:46"Could today the landlord turn round and say,
0:07:46 > 0:07:49"'I want my property back?'" She's got no security over her future.
0:07:49 > 0:07:51She's got no hold over it.
0:07:51 > 0:07:56It's been 18 months since landlords Marc and Peter have set foot in Linda's flat.
0:07:56 > 0:07:57Until now.
0:07:57 > 0:07:59Monday, Tuesday, Wednesday, Thursday.
0:07:59 > 0:08:02- We still need a Friday and a spare. - OK.
0:08:03 > 0:08:06Right, it just says, "Romford, Linda."
0:08:06 > 0:08:08We bought that.
0:08:08 > 0:08:11It must have been about four years ago, mustn't it?
0:08:11 > 0:08:13- Yeah.- Linda was already a tenant, weren't she?
0:08:13 > 0:08:15- That's right, yeah. - So we took it over.
0:08:15 > 0:08:17She didn't ask for much, bless her.
0:08:17 > 0:08:20Right, so, what, are we stripping these?
0:08:20 > 0:08:21Take these off for now.
0:08:21 > 0:08:25For the next week, Linda will move to a serviced apartment nearby.
0:08:25 > 0:08:28Change is a big thing for my mum. She's not young any more.
0:08:28 > 0:08:31It's a big upheaval for me.
0:08:31 > 0:08:33It's just a week, Nan, and, you know,
0:08:33 > 0:08:35that week will probably fly by once it's started.
0:08:35 > 0:08:39Our adventure. Off for the week, eh?
0:08:39 > 0:08:41Yeah, I think it will be an adventure, actually.
0:08:41 > 0:08:43I think it will be a bit different.
0:08:43 > 0:08:46- There shouldn't be any big surprises.- No.
0:08:46 > 0:08:49I mean, I never heard from her. I mean, if there was any issues,
0:08:49 > 0:08:51- you would expect her to call us, wouldn't you?- Yeah.
0:08:51 > 0:08:55She'll meet her landlords at the end of their stay in her home.
0:08:56 > 0:08:58Anxious?
0:08:58 > 0:09:00Very.
0:09:00 > 0:09:01It'll be all right.
0:09:02 > 0:09:04Come on, girls, quick!
0:09:04 > 0:09:06Oh, it ain't half warm in here.
0:09:06 > 0:09:09This is so cool!
0:09:09 > 0:09:11Got heating.
0:09:11 > 0:09:14Ensuite bathroom, lovely.
0:09:14 > 0:09:18It's nice. There's no smell of mould, it's warm, it's comfortable,
0:09:18 > 0:09:22and it's sort of all I would want in that flat.
0:09:22 > 0:09:25While Linda settles into her new home,
0:09:25 > 0:09:28Marc and Peter are about to experience tenant life.
0:09:31 > 0:09:32Here we go.
0:09:32 > 0:09:34Cor, smells a bit.
0:09:35 > 0:09:38Oh, she's rearranged it differently to what I remember.
0:09:38 > 0:09:41There's that unit we put in, look.
0:09:41 > 0:09:43Yeah. You can hear it going.
0:09:43 > 0:09:45Yeah, seems to have done the trick.
0:09:45 > 0:09:48We haven't got any mould or anything in here.
0:09:49 > 0:09:51- There's bits of... - Bits of mould there.
0:09:51 > 0:09:53Yeah. That's mould.
0:09:53 > 0:09:54And up there, look, see?
0:09:54 > 0:09:56- Gosh, there's quite a bit of it, isn't there?- Yeah.
0:09:56 > 0:09:59You wonder what the hell we've paid for with that unit there.
0:09:59 > 0:10:03- It's not working at all, is it? That hob's a bit...- That looks a bit dead, doesn't it?
0:10:03 > 0:10:06- Look at that.- That's dangerous, isn't it?- That's knackered.- Yeah.
0:10:06 > 0:10:08I don't know if that's even safe, Marc.
0:10:08 > 0:10:10- No.- Right, bathroom.
0:10:10 > 0:10:15Right, that's great. So, there's no hot water coming out that tap.
0:10:15 > 0:10:17That's nice, isn't it? All that mould on the wall.
0:10:17 > 0:10:21- What's all that? - Jesus. You can smell it as well.
0:10:21 > 0:10:24- That's not good, that. - Here we are, second bedroom.
0:10:24 > 0:10:27Mould again, all low-lying on the wall.
0:10:27 > 0:10:29Yeah. So, do you think it's got to be to do with the wall?
0:10:29 > 0:10:33I haven't a clue, Marc, I really haven't a clue.
0:10:33 > 0:10:35I pride myself as being a good landlord
0:10:35 > 0:10:39and this isn't the impression I would like to paint.
0:10:39 > 0:10:42I don't want anybody living in these conditions.
0:10:42 > 0:10:43Let's open that.
0:10:43 > 0:10:46"Dear Marc and Peter, being as you are staying here,
0:10:46 > 0:10:48"I have a few requests.
0:10:48 > 0:10:52"Could you not put the heaters on in the bedrooms, as I can't afford for
0:10:52 > 0:10:54"the electric bill to go any higher?
0:10:54 > 0:10:59"Since you've put the ventilator in, my electricity bills have doubled."
0:10:59 > 0:11:01- Right.- So, that is massively expensive...
0:11:01 > 0:11:03Well, that... That is a broken solution.
0:11:03 > 0:11:06- I'm upset about that. I think that's a shame.- Yeah.
0:11:06 > 0:11:09They have been given Linda's budget for the week.
0:11:09 > 0:11:14"£54.12, which is what's left after
0:11:14 > 0:11:18"all of the bills have been paid. Yours sincerely, Linda."
0:11:19 > 0:11:20Crikey.
0:11:20 > 0:11:2355 quid. £54.12.
0:11:23 > 0:11:27- Dear... Bloody hell.- 54 quid.- Jesus. - How are we going to live on 54 quid?
0:11:27 > 0:11:30That would be a round of drinks for me.
0:11:30 > 0:11:33All right, so I guess we're going to go and get ourselves some food.
0:11:33 > 0:11:35- Yeah.- And I think you're going to be busking, Dad,
0:11:35 > 0:11:37outside to top the pot up.
0:11:37 > 0:11:40Yeah, I am. I'm going to get a coat on as well, I'm freezing.
0:11:40 > 0:11:43Tonight is going to be grim. Having a night's kip.
0:11:43 > 0:11:46It is, isn't it? It's going to be bloody freezing.
0:11:55 > 0:11:56The scent of success.
0:11:56 > 0:11:59100 miles away, there's another landlord
0:11:59 > 0:12:02who has agreed to give up his luxury living for a week.
0:12:02 > 0:12:04It's always a bit of a hive of activity
0:12:04 > 0:12:06at Success HQ, as we call it.
0:12:09 > 0:12:13Paul Preston has made millions over the past ten years from his rentals.
0:12:13 > 0:12:15Have we had the flight times through?
0:12:15 > 0:12:19- 2nd of April, yeah?- No, March because ski trip's first, isn't it?
0:12:19 > 0:12:23- And you need to think about the champagne reception.- Yeah.
0:12:23 > 0:12:2640-year-old Paul lives in an exclusive apartment
0:12:26 > 0:12:29with his personal trainer girlfriend Priya.
0:12:29 > 0:12:31My name for Priya is Queen P,
0:12:31 > 0:12:33so... I don't know how it started, but it's definitely stuck.
0:12:33 > 0:12:35THEY LAUGH
0:12:35 > 0:12:37I like the finer things in life.
0:12:37 > 0:12:40Paul likes the finer things in life, just to make me happy.
0:12:40 > 0:12:44This is Priya's special going-on-holiday handbag.
0:12:44 > 0:12:46This is a limited edition.
0:12:46 > 0:12:47We have a fantastic lifestyle.
0:12:47 > 0:12:49Lots of great holidays.
0:12:49 > 0:12:54Thailand, Sydney, Melbourne, Val d'Isere...
0:12:54 > 0:12:58I couldn't even give you a figure as to how many times we go away a year.
0:12:58 > 0:13:00- Ibiza...- Oh, yeah.- New York.
0:13:00 > 0:13:02- Yeah.- Dubai.
0:13:02 > 0:13:05Our outgoings per week come to about £1,500.
0:13:05 > 0:13:07My Jimmy Choos.
0:13:07 > 0:13:10- Look at that smile! - HE LAUGHS
0:13:10 > 0:13:13A girl's got to have her shoes and her handbags.
0:13:15 > 0:13:19Paul has made his property fortune by splitting up houses
0:13:19 > 0:13:22and turning them into HMOs - houses of multiple occupation -
0:13:22 > 0:13:25where he can rent out the rooms individually.
0:13:26 > 0:13:29So, as always, we're on 100% occupancy.
0:13:29 > 0:13:31- It's just natural turnover.- Yeah.
0:13:31 > 0:13:35And he has a team to manage his HMO empire.
0:13:35 > 0:13:37I don't think that it's essential
0:13:37 > 0:13:39that you know your tenants personally
0:13:39 > 0:13:41in order to run a good business.
0:13:41 > 0:13:43Because I don't need to be that hands on,
0:13:43 > 0:13:46I can really follow my passion and do what I really love doing,
0:13:46 > 0:13:49which is helping other people to achieve the life of their dreams
0:13:49 > 0:13:51through property investing.
0:13:51 > 0:13:53Hey, it's Paul Preston here, the HMO guy,
0:13:53 > 0:13:56and welcome again to New York City.
0:13:56 > 0:13:58When you can combine vocation and vacation,
0:13:58 > 0:14:00that's really the ultimate.
0:14:00 > 0:14:04Paul's property mentoring earns him a healthy second income
0:14:04 > 0:14:07and thousands of followers on social media.
0:14:07 > 0:14:08Do a press-up now.
0:14:08 > 0:14:10Not tomorrow.
0:14:10 > 0:14:12You pause the video now and do one press up now.
0:14:12 > 0:14:17Paul's about to step out of his high-flying life for a week.
0:14:17 > 0:14:20Just getting together my, I guess, business essentials, really.
0:14:20 > 0:14:23Laptops and a phone and we'll be ready to rock and roll.
0:14:23 > 0:14:26And with his Queen P...
0:14:26 > 0:14:28Gym kit scales.
0:14:28 > 0:14:31..step into the shoes of one of his tenants.
0:14:31 > 0:14:35I think I'm going to learn about what it's like to live as a tenant
0:14:35 > 0:14:37and, of course, I've done that myself in the past,
0:14:37 > 0:14:39but not in recent years.
0:14:39 > 0:14:43I'll hopefully learn more about my business and about the properties.
0:14:43 > 0:14:46I'm excited about the opportunity and...
0:14:46 > 0:14:48Queen P living on a budget!
0:14:48 > 0:14:49THEY LAUGH
0:14:49 > 0:14:51That's the best, that's going to be the funniest bit.
0:14:51 > 0:14:53SHE LAUGHS
0:14:53 > 0:14:55- PHONE RINGS - There we go.
0:14:55 > 0:14:57Right. Ah, OK.
0:14:57 > 0:14:59It is close to the town centre.
0:14:59 > 0:15:03- OK, good.- Cool. I look forward to finding out what it's like.
0:15:06 > 0:15:11Paul will be moving in to one of the HMOs he runs in central Milton Keynes,
0:15:11 > 0:15:16home to 29-year-old account manager Hayley and six other tenants.
0:15:16 > 0:15:18When I first moved in,
0:15:18 > 0:15:21I wasn't told who already lived here.
0:15:21 > 0:15:26I've been here now 18 months and I still don't know anything about
0:15:26 > 0:15:29anybody that lives here other than their names.
0:15:29 > 0:15:31Unlike a traditional house share,
0:15:31 > 0:15:35tenants in HMOs have no say in who moves in.
0:15:35 > 0:15:37It would be nice to know who you live with.
0:15:37 > 0:15:40So I don't even know who's walking around the house that I'm in.
0:15:40 > 0:15:44This is Hayley's first experience of renting after a new job meant
0:15:44 > 0:15:47she had to move out of her family home 200 miles away.
0:15:47 > 0:15:50Before, when I thought "shared house", I thought maybe
0:15:50 > 0:15:53a living room, everybody knowing each other. I'd never known anything
0:15:53 > 0:15:56about an HMO before and didn't realise that's what this was.
0:15:56 > 0:15:59This is the only room in the house that anyone would be able
0:15:59 > 0:16:02to socialise in other than their own bedrooms.
0:16:02 > 0:16:07The table is more a shelf for what people have cooked, or for utensils
0:16:07 > 0:16:11that don't fit in a cupboard. So, this is like a storage area.
0:16:11 > 0:16:16People store their bikes and their rubbish and the recycling.
0:16:16 > 0:16:19Obviously, the walls are covered in mould.
0:16:19 > 0:16:21The windows aren't very secure.
0:16:21 > 0:16:23It looks disgusting.
0:16:23 > 0:16:26It looks dirty, it looks grubby.
0:16:26 > 0:16:29Not anything that you'd want to associate with a kitchen.
0:16:32 > 0:16:37This is a makeshift washing line out of Ethernet cable,
0:16:37 > 0:16:38a telephone wire.
0:16:38 > 0:16:43This used to be where we stored the bin bags,
0:16:43 > 0:16:45but the door seems to have come off.
0:16:45 > 0:16:49It would be nicer to not have the rubbish in the kitchen and have it
0:16:49 > 0:16:52out here. It would be nicer to see from my room that it wasn't so...
0:16:52 > 0:16:53Such a mess.
0:16:53 > 0:16:56And the tenants have spotted that all this rubbish has been
0:16:56 > 0:16:59a welcome invitation to one kind of guest.
0:17:00 > 0:17:03By chance I did speak to some tenants last week,
0:17:03 > 0:17:06who had informed me that there was a rat in this room,
0:17:06 > 0:17:07and they had to fight to get it out.
0:17:07 > 0:17:10And I know they've been seen in the garden before.
0:17:10 > 0:17:15Hayley pays £575 a month to live in the house,
0:17:15 > 0:17:17but spends every weekend with her family.
0:17:19 > 0:17:22This house does not feel like a home.
0:17:22 > 0:17:27I would much rather drive for two hours on a Friday night
0:17:27 > 0:17:29to my family home
0:17:29 > 0:17:34than have to spend the weekend here in my room alone.
0:17:34 > 0:17:36And after 18 months of living in the house,
0:17:36 > 0:17:39she's still not met her landlord.
0:17:39 > 0:17:43To be honest, I don't think the landlord has ever considered us.
0:17:43 > 0:17:46Probably only sees it as whether a room is vacant or full.
0:17:50 > 0:17:54I would be surprised if there were problems in the house
0:17:54 > 0:17:57and there were things that needed sorting and fixing.
0:17:57 > 0:17:59Like, I would be surprised.
0:17:59 > 0:18:03For the next few days, Hayley will move into a holiday let nearby.
0:18:03 > 0:18:05Very, very close now.
0:18:05 > 0:18:08All right. I'm a bit nervous, but excited.
0:18:08 > 0:18:09I think it's this one on the end.
0:18:16 > 0:18:18- In you go.- OK.
0:18:18 > 0:18:21So, home for the next few days.
0:18:21 > 0:18:24- OK.- Shall we go and have a look at our room first, then?
0:18:24 > 0:18:28- Yeah.- Cool. So, the stairs look like they need a hoover.
0:18:28 > 0:18:31Yeah, they do need a clean.
0:18:33 > 0:18:35Come on in, baby.
0:18:35 > 0:18:37- Oh, wow.- Oh, this is nice.
0:18:37 > 0:18:39It actually looks like she's made it like home.
0:18:39 > 0:18:41Have a look at this.
0:18:41 > 0:18:44"You are braver than you think, stronger than you look,
0:18:44 > 0:18:46"more talented than you know
0:18:46 > 0:18:49"and twice as brilliant as the brightest star."
0:18:49 > 0:18:51- Ah!- That's my sort of thing. - HE LAUGHS
0:18:51 > 0:18:54I think I'm maybe going to put this somewhere a little bit
0:18:54 > 0:18:57more prominent because that's... You know, to make it ours.
0:18:57 > 0:19:00That's what I'd like to wake up and see.
0:19:00 > 0:19:01Do you want to sit here, baby?
0:19:03 > 0:19:05OK. There's some money in there.
0:19:05 > 0:19:08- Ooh!- Right, OK, let's have a look.
0:19:08 > 0:19:10"Welcome to my room.
0:19:10 > 0:19:12"I hope you enjoy your time here.
0:19:12 > 0:19:14"I prepare and eat all of my meals in here,
0:19:14 > 0:19:16"as I don't really use the kitchen."
0:19:16 > 0:19:18OK. "I'd like to tell you about the other tenants,
0:19:18 > 0:19:21"but I don't actually really know anything about them.
0:19:21 > 0:19:24"My weekly budget is £99.23."
0:19:24 > 0:19:27I'm sure, over the course of a year,
0:19:27 > 0:19:31our personal, social fund budget is more, of course,
0:19:31 > 0:19:34but £100 a week for food and,
0:19:34 > 0:19:38you know, maybe a night out, having drinks with a few friends, you know,
0:19:38 > 0:19:39is more than manageable.
0:19:39 > 0:19:41It'll be fine, be fine.
0:19:41 > 0:19:44- Shall we have a look downstairs? - Yeah.- Cool.
0:19:46 > 0:19:48OK. What do you think?
0:19:48 > 0:19:51It reminds me of being in a student house.
0:19:51 > 0:19:54I guess it's... It's not spotless.
0:19:54 > 0:19:56I think it could use a little bit of a tidy up.
0:19:56 > 0:19:58With the table pushed against the wall,
0:19:58 > 0:20:02I would sense that maybe not everybody sits round it to eat together...
0:20:02 > 0:20:08- So, you know, maybe they do their own thing.- As a housemate living here, I might be tempted
0:20:08 > 0:20:11to do what Hayley does and do my things in my room.
0:20:11 > 0:20:13This was here when I bought it.
0:20:13 > 0:20:16Yeah, that maybe is a bit of mould, but...
0:20:16 > 0:20:17This, I mean, think about this as a shed.
0:20:17 > 0:20:20It's just where you put your bike.
0:20:21 > 0:20:25I don't necessarily think that's any issue to be aware of,
0:20:25 > 0:20:26but I will get it looked at.
0:20:26 > 0:20:31I will look completely favourably and open-mindedly on any request,
0:20:31 > 0:20:34any suggestions. We haven't had any. I don't live here.
0:20:34 > 0:20:38I'm here to learn and I'm here to observe and I'm here to get
0:20:38 > 0:20:40that perspective and maybe the learning is -
0:20:40 > 0:20:42everyone's really happy with this, it's great.
0:20:46 > 0:20:50I have to say, I'm feeling a little bit like a rabbit in the headlights at the moment.
0:20:50 > 0:20:54- Yeah.- I mean, it's not just the budget,
0:20:54 > 0:20:56it's the facilities we've got.
0:20:56 > 0:20:58- Yeah.- To deal with it.
0:20:58 > 0:21:02In Essex, Peter and Marc are getting used to life on their tenant's terms.
0:21:04 > 0:21:07Right, let's just do what we need to make one or two meals,
0:21:07 > 0:21:11because this is a learning curve. We're both out of our depth.
0:21:13 > 0:21:15See, that's £1.59.
0:21:15 > 0:21:18- There's nothing to it, is there? - No.
0:21:19 > 0:21:25I'm thinking pasta, some tinned tomatoes and some meat.
0:21:25 > 0:21:27I don't even care what it's going to taste like.
0:21:27 > 0:21:30I just need stodge inside me, you know?
0:21:30 > 0:21:32I just need to get through tonight.
0:21:32 > 0:21:35- Go round this way.- The budget is so small for the week.
0:21:37 > 0:21:39It feels just like a mountain to climb.
0:21:39 > 0:21:42I'm sort of thinking of phoning Jan up and saying,
0:21:42 > 0:21:45"Jan, help, can you bring me this, can you bring me that?"
0:21:45 > 0:21:48I'm more in a survival mode right now.
0:21:51 > 0:21:53- Oh, that stinks!- Yeah, it does.
0:21:53 > 0:21:57Every time we come through that door, I get hit by that.
0:21:59 > 0:22:02I'm too cold to take my coat off. I'm going to leave...
0:22:02 > 0:22:04I'm going to cook in my coat until it all warms up.
0:22:04 > 0:22:07We should have been packing for the blasted Arctic.
0:22:09 > 0:22:11Peter and Marc's tenant Linda requested
0:22:11 > 0:22:15that they don't heat the bedrooms as she can't afford it.
0:22:15 > 0:22:17- I'm going in here, then. - Right, you can have that room.
0:22:17 > 0:22:19You've whinged about being here more than I have.
0:22:19 > 0:22:21Well, normally I sleep naked, but...
0:22:22 > 0:22:24..it's just too cold.
0:22:24 > 0:22:29I've got a thermal socks on, I've got jogging bottoms,
0:22:29 > 0:22:32a T-shirt, a hoodie
0:22:32 > 0:22:35and a fleeced zippy hoodie.
0:22:35 > 0:22:38I just want to make sure that I'm warm so I get a good night's sleep.
0:22:38 > 0:22:39So, this is all right.
0:22:39 > 0:22:41OK.
0:22:41 > 0:22:43Oh...
0:22:52 > 0:22:55While Peter and Marc are living in her flat,
0:22:55 > 0:22:58Linda is carrying on with her normal routine.
0:22:59 > 0:23:02My first alarm goes off at 4.30.
0:23:02 > 0:23:05Second one goes off at 4.40.
0:23:05 > 0:23:07And when the third one goes off, I get up.
0:23:09 > 0:23:13Linda works three jobs, caring for children with special needs.
0:23:13 > 0:23:17She needs to take two buses to start her first shift at 7am.
0:23:18 > 0:23:22I'm 66 now. I would have liked to have been retired,
0:23:22 > 0:23:24but I can't afford to retire.
0:23:24 > 0:23:26I work to pay my rent.
0:23:27 > 0:23:30- INTERVIEWER:- When do you think you'll stop working?
0:23:30 > 0:23:32- Whenever everything stops going up! - SHE LAUGHS
0:23:41 > 0:23:43I woke up about 5.30.
0:23:43 > 0:23:47Blasted alarm went off at 5.30, so I don't know...
0:23:47 > 0:23:50I don't know if that's the sort of time she gets up.
0:23:50 > 0:23:53If I was living like this for a year...
0:23:57 > 0:24:00- Maybe...- I don't know, I can't imagine living like this for a year.
0:24:00 > 0:24:01I'd get depressed.
0:24:01 > 0:24:05We were out there, we did a bit of exercise. OK, it was cold,
0:24:05 > 0:24:09but Dad and I, our mood was fairly buoyant and uplifted.
0:24:09 > 0:24:11And then we walked back through this door
0:24:11 > 0:24:13and you're in this environment again
0:24:13 > 0:24:16and suddenly, straightaway, it's just like, "Ugh..."
0:24:16 > 0:24:18Like that. That's how I felt walking through the door.
0:24:18 > 0:24:21But that's not about landlord or a tenant,
0:24:21 > 0:24:24it's not about being a rich person or a poor person,
0:24:24 > 0:24:26it's just about how the property is.
0:24:26 > 0:24:28You know, how it's been looked after.
0:24:32 > 0:24:34Eurgh!
0:24:35 > 0:24:37It just hasn't been cared for.
0:24:37 > 0:24:40There's maintenance issues which haven't been reported to us.
0:24:40 > 0:24:43You know, easy jobs to quickly fix.
0:24:43 > 0:24:47I'm a little bit disappointed in Linda in not coming forward.
0:24:47 > 0:24:49If we look here, the silicon seal's gone.
0:24:49 > 0:24:53And it's leaked down and that shelf has bowed,
0:24:53 > 0:24:56the chipboard's blown and it's all started to rot away.
0:24:56 > 0:25:00That is where the asset has been damaged
0:25:00 > 0:25:03because someone's not just phoned me up
0:25:03 > 0:25:07and I haven't had a chance to send somebody round
0:25:07 > 0:25:09and do a ten-minute job for six quid.
0:25:09 > 0:25:12So that's just cost me about 400 quid.
0:25:12 > 0:25:13It's upsetting, you know?
0:25:13 > 0:25:18It's an indication of people not having respect for it, you know?
0:25:18 > 0:25:21While Peter surveys the damage...
0:25:21 > 0:25:22- Hi, I'm Marc.- Nice to meet you.
0:25:22 > 0:25:25- How you doing, all right? - I'm fine, thank you.
0:25:25 > 0:25:27..Marc wants to know how much they could charge for the flat
0:25:27 > 0:25:29if they improved it.
0:25:29 > 0:25:31Two-bedroom flat, ground floor,
0:25:31 > 0:25:33original kitchen and bathroom.
0:25:33 > 0:25:36At the moment, it's... It's in a bit of a tired condition.
0:25:36 > 0:25:38We're only getting 950 for it.
0:25:38 > 0:25:40For an average two-bed in the local area,
0:25:40 > 0:25:43you are looking in the region of around £1,200.
0:25:43 > 0:25:48- Really?- Yeah, so...- Wow.- And the demand is definitely there for it
0:25:48 > 0:25:50at that price. That would be in line with
0:25:50 > 0:25:52having a refurbishment at the property.
0:25:52 > 0:25:57On the London-Essex border, Linda's home is just 30 minutes on a train
0:25:57 > 0:26:01from the City of London. And five minutes from the station by foot.
0:26:01 > 0:26:03Bloody hell, look how close it is, Dad.
0:26:03 > 0:26:06It is, isn't it? It's right on top of it, literally.
0:26:06 > 0:26:09Two years' time from now, this is going to gentrify.
0:26:09 > 0:26:11You're going to get the coffee shops,
0:26:11 > 0:26:14you're going to get all the things that the commuters want.
0:26:14 > 0:26:16All the landlords are going to start
0:26:16 > 0:26:18going for those young, professional tenants.
0:26:18 > 0:26:20The demographic's going to change
0:26:20 > 0:26:22and the market's going to change with it.
0:26:22 > 0:26:25We've done better than I thought we'd done on this one.
0:26:25 > 0:26:27- Absolutely, we have, yeah. - Yeah.
0:26:28 > 0:26:32In Milton Keynes, landlord Paul and girlfriend Priya
0:26:32 > 0:26:34are adapting to their tenant's habitat.
0:26:36 > 0:26:38It's a little bit dark here, isn't it?
0:26:39 > 0:26:41It's actually a bit hard to...
0:26:41 > 0:26:43I'm in now, but again,
0:26:43 > 0:26:44I guess that's part of the learning,
0:26:44 > 0:26:47and a lot of the other houses have got security lights
0:26:47 > 0:26:48that pop on under here.
0:26:48 > 0:26:50Oh, my legs!
0:26:52 > 0:26:56I was a bit surprised when she said she prepares most of her food here
0:26:56 > 0:26:59because, obviously, there aren't, you know... There's no hob,
0:26:59 > 0:27:01there's no sink, there's no "cooking facilities".
0:27:01 > 0:27:04But some people like to do their own thing,
0:27:04 > 0:27:06maintain their own level of privacy.
0:27:06 > 0:27:10Could it be because it was a little bit messy downstairs
0:27:10 > 0:27:12and she's obviously not a messy person?
0:27:12 > 0:27:13It could be.
0:27:19 > 0:27:23This probably isn't how we would dine together ordinarily, of course.
0:27:26 > 0:27:29It's a bit weird, like, eating it on your lap, though, cos I'm not...
0:27:29 > 0:27:32- I know, if you were...- I'm just not quite sure how to sit.
0:27:32 > 0:27:35- As a woman...- It's like I need to sort of put my legs together
0:27:35 > 0:27:37to make a table and that doesn't feel...
0:27:37 > 0:27:41As a woman, you cross your legs and, look, I've got a nice table.
0:27:41 > 0:27:42If you cross your legs.
0:27:42 > 0:27:45This is how I would normally sit, but I'm thinking,
0:27:45 > 0:27:47I'm balancing my plate on one knee.
0:27:47 > 0:27:50That's not... This is only going to go one way and that's wrong.
0:27:50 > 0:27:54I would probably, definitely need a little table and chairs here,
0:27:54 > 0:27:57yeah, rather than sitting on my lap every night. Yeah.
0:27:57 > 0:28:02But if it's working for her, seems happy enough, the place is great,
0:28:02 > 0:28:04so, you know, something's working here.
0:28:09 > 0:28:11OK, got it.
0:28:11 > 0:28:13After 24 hours of limited heating,
0:28:13 > 0:28:16Marc's asked his mum to come to their rescue.
0:28:16 > 0:28:18The reason I asked you to bring all this stuff...
0:28:18 > 0:28:22- Yeah.- ..is because Dad hasn't packed anything...
0:28:22 > 0:28:25I've packed for a fashion parade, I've not packed...
0:28:25 > 0:28:28And Dad doesn't have any warm clothes.
0:28:28 > 0:28:31I don't know why you're so cold. It's warm in here.
0:28:32 > 0:28:35- Right.- Go and stand in that bedroom.
0:28:35 > 0:28:37OK. And you're not allowed to heat the bed...
0:28:37 > 0:28:40- Oh.- There's other things as well.
0:28:40 > 0:28:41Just give that a tap.
0:28:43 > 0:28:46Oh. It's dangerous, isn't it?
0:28:46 > 0:28:49I think you've come in here not too soon, really.
0:28:49 > 0:28:51- Yeah.- Yeah. Well, there's other things that we...
0:28:51 > 0:28:55Aren't you surprised that one of your places is...?
0:28:55 > 0:28:58I'm horrified. And I'm looking forward to getting to the bottom of
0:28:58 > 0:29:02- what's going on.- I don't think it's her fault, I think she needs help.
0:29:02 > 0:29:04- Yeah.- So, how old is Linda, do you know?
0:29:04 > 0:29:05So, she's middle...
0:29:05 > 0:29:07What's middle-aged? Come on, 40 or 60?
0:29:07 > 0:29:11All we can say is that she's got a couple of grown-up kids,
0:29:11 > 0:29:13- maybe late 20s. - So in her 50s, maybe?
0:29:13 > 0:29:14- Yeah.- And does she work?
0:29:14 > 0:29:16She works at the council, doesn't she?
0:29:16 > 0:29:19- Yeah, yeah.- Really?- The council, yeah. It's not a lot of money.
0:29:19 > 0:29:21We got a statement from her employer
0:29:21 > 0:29:25- and it actually said what her annual salary was.- And it's not a lot?
0:29:25 > 0:29:28- And it's not a lot.- This is a completely different property
0:29:28 > 0:29:31to any of the others I've ever be then.
0:29:31 > 0:29:34The others are all really, really well-kept.
0:29:34 > 0:29:37They've mostly got young professional couples,
0:29:37 > 0:29:38and if there's anything wrong,
0:29:38 > 0:29:41it could be 11 o'clock at night and you'll get a phone call,
0:29:41 > 0:29:43"This isn't right, that's not right."
0:29:43 > 0:29:45And they're in, getting it fixed straightaway,
0:29:45 > 0:29:47as is the way you'd want to live.
0:29:47 > 0:29:50I still can't see why anybody would not report things
0:29:50 > 0:29:53that are only going to make it better for them,
0:29:53 > 0:29:56because it's not like you're going to charge her for mending her taps.
0:29:56 > 0:29:58Maybe a leaky tap is the least of her issues.
0:29:58 > 0:30:01- Maybe, financially, she's struggling.- It's all a bit of a bombshell, Jan.
0:30:01 > 0:30:04I think, you know, bombshell, shell-shocked.
0:30:05 > 0:30:08We need to think about what we're going to do
0:30:08 > 0:30:13and I think refurbing is... part of that.
0:30:13 > 0:30:15I think it would be a wasted investment.
0:30:15 > 0:30:18- What are your concerns, then? - Listen, listen.
0:30:18 > 0:30:24It's going to cost you about 9K to gut and refit the kitchen and bathroom.
0:30:24 > 0:30:27In two years' time, we would bin the whole bloody lot.
0:30:27 > 0:30:29Why would we have to bin the whole lot?
0:30:29 > 0:30:32Because I don't think Linda would look after it.
0:30:33 > 0:30:36Don't you think there's an ethical issue here?
0:30:36 > 0:30:40No. I don't want to get too emotionally involved,
0:30:40 > 0:30:42I want to steer away from that.
0:30:42 > 0:30:45There's a lot to think about. My head's spinning.
0:30:45 > 0:30:49The good business sense is to refurbish this place
0:30:49 > 0:30:53and find a young couple or a family who have the affordability,
0:30:53 > 0:30:57but the issue here is that we bought this place with Linda in it
0:30:57 > 0:31:00and she considers it her home.
0:31:02 > 0:31:03Oh.
0:31:05 > 0:31:08I live a really nice life
0:31:08 > 0:31:13and I owe that to my tenants, so I...
0:31:14 > 0:31:15Yeah. It sucks.
0:31:19 > 0:31:21- INTERVIEWER:- What sucks?- It's...
0:31:21 > 0:31:24It sucks to... It's almost like a poverty trap,
0:31:24 > 0:31:28and I've been living in a bit of a bubble.
0:31:28 > 0:31:30I've just realised.
0:31:35 > 0:31:38I thought it was about being cold and all the problems and the drama,
0:31:38 > 0:31:42but actually, what's been building up underneath the surface is...
0:31:43 > 0:31:48..knowing that I'm responsible for somebody else's living conditions.
0:31:50 > 0:31:52I never imagined it would be like this.
0:32:02 > 0:32:05Morning, baby. Love you.
0:32:05 > 0:32:10- Little Queen, Little Prince. - Zero...- Little fluffy princess.
0:32:11 > 0:32:15- Big guns.- No, it's "Big King" you're supposed to say.
0:32:15 > 0:32:17In the Milton Keynes HMO,
0:32:17 > 0:32:20Paul and Priya are waking up to their tenant's life.
0:32:20 > 0:32:22Nice day outside, baby.
0:32:22 > 0:32:26- Oh, yeah.- So far, I'm happy doing everything in one room.
0:32:26 > 0:32:31At home, do we have separate work space, separate living space,
0:32:31 > 0:32:34separate...? Yeah, we do, but therein lies the trade-off.
0:32:34 > 0:32:39I know that my cost of living is certainly a lot higher than this now.
0:32:39 > 0:32:41- This one's yours.- Cool.
0:32:42 > 0:32:43Breakfast of champions.
0:32:43 > 0:32:47But from now on, Paul will be cooking for himself.
0:32:47 > 0:32:50Priya's going back home to their luxury flat...
0:32:50 > 0:32:51Love you, Queen Bee.
0:32:51 > 0:32:55..so Paul can experience HMO life on his own.
0:32:55 > 0:32:56Love you.
0:32:56 > 0:32:58THEY LAUGH
0:32:58 > 0:32:59Little Queen.
0:32:59 > 0:33:02- Love you, Little Queen.- Love you.
0:33:02 > 0:33:05Maybe it will feel a bit different being by myself, I don't know.
0:33:07 > 0:33:11I don't necessarily believe that the model is isolating, at all.
0:33:11 > 0:33:14I don't believe that. I think people make personal decisions
0:33:14 > 0:33:17as to how much they want to interact with others or not.
0:33:19 > 0:33:22- Hi, mate, how are you? - Good, thanks, you?
0:33:22 > 0:33:23Yeah, good, I'm Paul, how are you?
0:33:23 > 0:33:26Housemate Lewis has lived here for three years.
0:33:26 > 0:33:29Do you know people, do you spend much time together here,
0:33:29 > 0:33:32or do you more do your own thing a bit?
0:33:32 > 0:33:35We don't really spend much time outside of the house.
0:33:35 > 0:33:38It's kind of, inside of the house we meet in the kitchen, but, yeah,
0:33:38 > 0:33:41- not really socially as such. - OK. If there was a wish list,
0:33:41 > 0:33:44is there anything that you think would make a real difference to
0:33:44 > 0:33:46- living here?- Definitely the area out there.
0:33:46 > 0:33:49- OK.- The window's pretty rotten now.
0:33:49 > 0:33:51- Right.- And it's not very secure.
0:33:51 > 0:33:53- OK.- I've got two bikes out there
0:33:53 > 0:33:57that I've spent quite a lot of money on, so I do worry about that.
0:33:57 > 0:34:00Have you mentioned that, or raised that as a maintenance issue
0:34:00 > 0:34:02to the other Paul or to the team at the office?
0:34:02 > 0:34:04I haven't personally, no.
0:34:04 > 0:34:08I know the other guys had done it previously, so I kind of thought,
0:34:08 > 0:34:10well, you know, they already know about it.
0:34:10 > 0:34:12Other than that, happy with everything here?
0:34:12 > 0:34:14We've got a bit of a rat problem as well.
0:34:14 > 0:34:18- Right, OK.- I think there's a bit of a large family living in the shed.
0:34:18 > 0:34:20Oh, right, OK, OK.
0:34:20 > 0:34:22One of them's pretty big as well.
0:34:22 > 0:34:23Right. All right.
0:34:27 > 0:34:30In respect of the furry family,
0:34:30 > 0:34:33it is something that happens in built-up areas,
0:34:33 > 0:34:36so you're only ever ten feet from a London rat, or something.
0:34:36 > 0:34:40So there's obviously a balance of, we can fix what we know about.
0:34:40 > 0:34:42I think one or two of these issues,
0:34:42 > 0:34:44I think we could have probably visually picked up,
0:34:44 > 0:34:47but, equally, a couple of those things, people are saying,
0:34:47 > 0:34:49"Well, it doesn't bother us and we never reported it."
0:34:49 > 0:34:52So how would we know as well?
0:34:54 > 0:34:56With everyone paying around the £600 mark,
0:34:56 > 0:35:00that's a lot of money for five different rooms to be spending,
0:35:00 > 0:35:04so it is a little bit disappointing when you've asked for things
0:35:04 > 0:35:08to be done and it takes so long, when you know that the profit
0:35:08 > 0:35:11that they're getting out of it is quite high.
0:35:14 > 0:35:18Landlords want to invest in Milton Keynes because of the high demand
0:35:18 > 0:35:20for rentals in the commuter town.
0:35:21 > 0:35:26Where I'm actually taking you now is the first HMO I actually acquired
0:35:26 > 0:35:28as a deliberate investment.
0:35:28 > 0:35:29This is actually one of mine.
0:35:29 > 0:35:31This one here's another one of mine.
0:35:31 > 0:35:32That's another one just here.
0:35:32 > 0:35:35This is actually another one of mine.
0:35:35 > 0:35:37Paul has over 100 tenants in the town,
0:35:37 > 0:35:41making him tens of thousands of pounds' monthly profit.
0:35:41 > 0:35:44When you've found a property model that works, a layout,
0:35:44 > 0:35:47a floor plan that works, you don't need to go somewhere else
0:35:47 > 0:35:49and try and reinvent the wheel again.
0:35:49 > 0:35:51Just get more of those properties in the same area.
0:35:51 > 0:35:55This is the very first HMO I actually bought myself,
0:35:55 > 0:35:57where it all started.
0:35:57 > 0:36:00This particular property is an example.
0:36:00 > 0:36:03If it was rented out as a single-let property,
0:36:03 > 0:36:08it would probably fetch around about £1,000 a month in gross rent,
0:36:08 > 0:36:10so maybe that could make
0:36:10 > 0:36:12approximately £500 per month profit.
0:36:12 > 0:36:16However, by converting the property into a multi-let property
0:36:16 > 0:36:18and renting the rooms out individually,
0:36:18 > 0:36:23the profit goes up to between £1,000 and £1,500 a month
0:36:23 > 0:36:24on exactly the same house.
0:36:24 > 0:36:27In recent years, the local council has started
0:36:27 > 0:36:29to limit the number of HMOs in the area.
0:36:31 > 0:36:35What they're worried about is maybe suburbs becoming overcrowded
0:36:35 > 0:36:38or maybe a bit more like ghettos.
0:36:38 > 0:36:41I think that's one of the words I've heard used.
0:36:41 > 0:36:44Then, equally, it's the same council that are saying,
0:36:44 > 0:36:47"We've got a waiting list for property, we haven't got enough accommodation."
0:36:47 > 0:36:51And yet there's landlords here that want to provide accessible, affordable accommodation.
0:36:51 > 0:36:56You could look at an HMO and think, "Wow, that one house actually houses five or six people now.
0:36:56 > 0:37:00"Great. So we've got six units of accommodation out of one property."
0:37:01 > 0:37:05With demand for housing in Milton Keynes growing faster than supply,
0:37:05 > 0:37:09rents in the town are 4% above the national average.
0:37:10 > 0:37:14But for this week, Hayley's enjoying her temporary accommodation.
0:37:14 > 0:37:17It's nice to have an oven, it's nice to have...
0:37:18 > 0:37:20..a microwave out of my bedroom.
0:37:23 > 0:37:25It's nice to have a big fridge as well.
0:37:25 > 0:37:29I feel like I could do maybe a week's shop, rather than a few days.
0:37:29 > 0:37:33Being in this flat has definitely made me wonder
0:37:33 > 0:37:34what else is out there.
0:37:34 > 0:37:38One bedroom apartment, all bills included. £1,600 a month.
0:37:38 > 0:37:42It's expensive. If I wanted to get a one-bedroom flat in Milton Keynes,
0:37:42 > 0:37:43it looks like I'd have next to no...
0:37:45 > 0:37:48..spending money. All of my money, it looks like,
0:37:48 > 0:37:49would have to go onto rent.
0:37:49 > 0:37:53Since 2008, the housing crisis has made it
0:37:53 > 0:37:55increasingly expensive for young renters.
0:37:57 > 0:38:00Landlord Paul was also hit hard by the recession
0:38:00 > 0:38:02when he lost his first business -
0:38:02 > 0:38:05a multi-million-pound recruitment agency.
0:38:05 > 0:38:08I lost everything. It went fast.
0:38:09 > 0:38:13I actually found myself working as a cleaner, you know,
0:38:13 > 0:38:15making around about £6 an hour.
0:38:15 > 0:38:18I knew I had to do something different in my life
0:38:18 > 0:38:20to get out of that place that I was in.
0:38:20 > 0:38:22To keep his head above water,
0:38:22 > 0:38:26Paul started to rent out his five-bedroom house by the room.
0:38:26 > 0:38:29Although I wasn't doing it to be an investor,
0:38:29 > 0:38:31I was doing it because I was desperate at the time,
0:38:31 > 0:38:34that was kind of like the light bulb moment.
0:38:34 > 0:38:37I just needed more of these properties, because I could
0:38:37 > 0:38:40quite easily see that even with just a couple of them,
0:38:40 > 0:38:42I could actually be more than back on my feet.
0:38:42 > 0:38:44I probably stumbled across the solution, really,
0:38:44 > 0:38:46not because I thought I was a clever investor,
0:38:46 > 0:38:49but because I was desperate at the time.
0:38:55 > 0:38:58Come on in, Patrick. This is the main bedroom.
0:38:58 > 0:39:01Before Peter and Marc can make any long-term decisions,
0:39:01 > 0:39:02they need to get to the bottom
0:39:02 > 0:39:05of what's causing the mould in Linda's home.
0:39:05 > 0:39:09Look, there's damp. It's travelling down this side wall now, as well.
0:39:09 > 0:39:12Would you advise that the tenant keeps this room
0:39:12 > 0:39:15- at a certain temperature? - Yes, of course, yeah.
0:39:15 > 0:39:20- Right.- It shouldn't be turned off and then put on sporadically.
0:39:20 > 0:39:22You know, these walls need to keep...
0:39:22 > 0:39:24They need to be dried.
0:39:24 > 0:39:27Even if we did this to a real high standard,
0:39:27 > 0:39:28without adequate heating on,
0:39:28 > 0:39:31it's just going to end up with mould on the walls again.
0:39:31 > 0:39:33So the tenant who lives here
0:39:33 > 0:39:36has to be able to afford those energy bills.
0:39:36 > 0:39:38- All right.- Cheers.- Thank you. Bye-bye.- See you.
0:39:40 > 0:39:42These are Linda's bills.
0:39:44 > 0:39:45- Oh, right.- Her actual bills.
0:39:45 > 0:39:50So, basically, she is paying 30 quid a week for electric.
0:39:50 > 0:39:54And then some real clear indicators that Linda's struggling.
0:39:54 > 0:39:58To be honest, whether we do new kitchen, new bathroom,
0:39:58 > 0:40:01- or whatever... - This ain't going away.- This ain't...
0:40:01 > 0:40:04- This is an issue that needs rectifying.- Yeah, yeah.
0:40:04 > 0:40:07If you can't afford to put the heating on, you can't afford to live here.
0:40:07 > 0:40:10Maybe it's time that she thought about moving into
0:40:10 > 0:40:13a smaller property, then, you know, a one-bed flat.
0:40:13 > 0:40:16But... Dad, we're coming at it from some pretty different perspectives,
0:40:16 > 0:40:19- because I'm actually concerned... - I've just found out...
0:40:19 > 0:40:20I'm concerned for Linda,
0:40:20 > 0:40:24but I'm also concerned for us and I'm concerned for our business.
0:40:24 > 0:40:27Tomorrow, Peter and Marc will be meeting Linda
0:40:27 > 0:40:29to discuss their concerns.
0:40:29 > 0:40:31How are you feeling about tomorrow, Mum? Honestly?
0:40:31 > 0:40:34I am worried what's going to be said.
0:40:34 > 0:40:37I want to stay where I am, I don't want to move nowhere.
0:40:37 > 0:40:40Because it's close to all my family, my children.
0:40:40 > 0:40:44I'm afraid that after all this has happened, he's going to put me out.
0:40:44 > 0:40:48Not having a tenancy agreement, she's living here on borrowed time,
0:40:48 > 0:40:51basically. The landlord can come in and kick you out whenever he wants
0:40:51 > 0:40:53and don't have to have a reason why.
0:40:53 > 0:40:55Do you think he would do that, though, Mum?
0:40:55 > 0:40:58If he did do it, then I'd have to go.
0:40:58 > 0:41:00Well, I'd have nowhere to go, wouldn't I?
0:41:00 > 0:41:02Linda's worries are justified.
0:41:02 > 0:41:04The ending of a short-term tenancy has become
0:41:04 > 0:41:07the single most common cause of homelessness in Britain.
0:41:15 > 0:41:19One of the things we want to find out is, how realistic is it
0:41:19 > 0:41:24that she can actually continue to live here in the future?
0:41:24 > 0:41:27Because if she is having difficulty heating it, that's an issue.
0:41:29 > 0:41:31Here we are, Marc, this is it.
0:41:31 > 0:41:34I want to find out more about Linda's situation.
0:41:34 > 0:41:36Looking at those bills yesterday,
0:41:36 > 0:41:39we suspect that she's struggling financially,
0:41:39 > 0:41:43and it's never easy having those conversations.
0:41:44 > 0:41:46I want to know what the situation is.
0:41:46 > 0:41:50We may not like what we hear and we may not...
0:41:51 > 0:41:53..be comfortable with the solutions.
0:41:53 > 0:41:56Linda is bringing her son Les with her for moral support.
0:41:59 > 0:42:01Well, Linda, we had a few shocks.
0:42:01 > 0:42:05We came in and we found that, you know,
0:42:05 > 0:42:09a few things weren't working and that, and we also found the damp.
0:42:09 > 0:42:12- It's got worse. - And it's a real shock to us.
0:42:12 > 0:42:15- I'm just surprised you haven't phoned us.- You knew about the damp.
0:42:15 > 0:42:17That was there when you bought the property.
0:42:17 > 0:42:21When we put that unit in, did it actually address the problem,
0:42:21 > 0:42:25- did the damp go away?- No. Only the living room.
0:42:25 > 0:42:28Part of the damp problem is to do with the fact that
0:42:28 > 0:42:30if you're not affording to heat your house...
0:42:30 > 0:42:32We were wondering, is there a wider issue going on -
0:42:32 > 0:42:35because we did see the electric bills -
0:42:35 > 0:42:37and whether you can actually afford to live there?
0:42:37 > 0:42:40I'm managing. But I go without food and everything,
0:42:40 > 0:42:44as long as I've got my roof over my head. That's my main priority.
0:42:44 > 0:42:48I'm sure you understand it wouldn't be ethical of us
0:42:48 > 0:42:52to let someone live there if they were struggling every single month.
0:42:52 > 0:42:57I needed my tenancy agreement so that I could go down to the council and show them
0:42:57 > 0:43:00my rent had been increased and that I needed more help with my rent.
0:43:00 > 0:43:04- Yeah.- I couldn't prove it, because I didn't have the tenancy. - The one you got originally.
0:43:04 > 0:43:06- Yeah.- As soon as it goes beyond 12 months,
0:43:06 > 0:43:08it goes on what's called a rolling contract.
0:43:08 > 0:43:10It's been a great worry.
0:43:10 > 0:43:13Worrying if she was going to lose her home.
0:43:13 > 0:43:14Yeah, it goes on in your mind.
0:43:14 > 0:43:19- Yeah.- Being as I'm old as well, you know...
0:43:19 > 0:43:22You say that you actually get housing benefit already?
0:43:22 > 0:43:24Yeah, I get £120 a month.
0:43:24 > 0:43:28Have you considered moving into a smaller flat?
0:43:28 > 0:43:30I don't want to go into an actual smaller flat,
0:43:30 > 0:43:33because I have my family come round.
0:43:33 > 0:43:35There's always a room available for someone to be there,
0:43:35 > 0:43:39just to make sure she's all right. I mean, with her arthritis and that,
0:43:39 > 0:43:42it does play her up at times.
0:43:42 > 0:43:45- Arthritis. Right. - She's got osteoarthritis.
0:43:45 > 0:43:47- Right, OK. - She's contacted the council.
0:43:47 > 0:43:50The only thing they'd be able to offer would be sheltered housing.
0:43:50 > 0:43:53It's like years' waiting list.
0:43:53 > 0:43:55- Right.- So, you know, she's got no option.
0:43:55 > 0:43:59I'm 66 now, I'm still working, doing my three jobs.
0:43:59 > 0:44:01My first priority is my rent.
0:44:03 > 0:44:05How long do you intend to keep working for?
0:44:05 > 0:44:10- I'll keep working until they tell me I can't work no more.- Right.- Right.
0:44:11 > 0:44:13We found out a lot in that meeting.
0:44:13 > 0:44:17It turns out that Linda's 66 and still working.
0:44:17 > 0:44:20I'm 66, I'm still working.
0:44:20 > 0:44:25I suppose the difference is that I choose to do what I do.
0:44:25 > 0:44:28I've always had a sense of freedom, a sense of independence,
0:44:28 > 0:44:30a sense of choice.
0:44:30 > 0:44:33And to absolutely have to work to pay the rent,
0:44:33 > 0:44:36it sounds like a hard life to me.
0:44:36 > 0:44:40- INTERVIEWER:- How do you think you'd feel if you were in that position?
0:44:40 > 0:44:43I don't know how I'd feel. I don't think I'd feel good.
0:44:48 > 0:44:51To give them more time to decide what to do, Peter and Marc
0:44:51 > 0:44:55have asked Linda to stay out of her flat for one more week.
0:44:55 > 0:44:59They stated they didn't have any idea that it was that bad.
0:45:00 > 0:45:04- He looked at the electric bills and that.- Yeah.
0:45:04 > 0:45:05But then he started questioning me
0:45:05 > 0:45:07whether I can afford to live in the flat.
0:45:07 > 0:45:11Are they looking at not renewing her tenancy?
0:45:11 > 0:45:15- No.- For me, I'll be honest, where he's brought up her finances
0:45:15 > 0:45:19makes me feel that he's pushing whether she can live there or not.
0:45:19 > 0:45:22There was no malice involved in it.
0:45:22 > 0:45:25OK. There's a new rail they're doing that's meant to be a quicker train
0:45:25 > 0:45:28into London and they're doing it on the rail that Mum's living at.
0:45:28 > 0:45:30They're going through Chadwell Heath.
0:45:30 > 0:45:33I'm just saying, like, that's the only time
0:45:33 > 0:45:34he can put that rent up more,
0:45:34 > 0:45:36is when that train rail goes through.
0:45:36 > 0:45:39She can't afford no more than 950, Les. That will make her homeless.
0:45:39 > 0:45:43It's still the unknown. She's got no control over
0:45:43 > 0:45:45what the landlord's going to do to the property,
0:45:45 > 0:45:47or what he wants to do for the future.
0:45:47 > 0:45:49She is powerless.
0:45:56 > 0:46:00In central Milton Keynes, Paul is preparing to meet his tenant.
0:46:00 > 0:46:02I'm looking forward to meeting Hayley,
0:46:02 > 0:46:06to find out about her experience living here as a housemate.
0:46:06 > 0:46:09Of course, I'm going to ask her how does she think we can improve,
0:46:09 > 0:46:13are there any issues that she's got that she'd like to raise to us?
0:46:14 > 0:46:19I hope he's had the real experience, he's had to...
0:46:20 > 0:46:23..hear people moving around that he doesn't know,
0:46:23 > 0:46:26he's had to sit in his room because there's nowhere else to go.
0:46:26 > 0:46:31I hope he's seen that if he wants people to stay, then...
0:46:31 > 0:46:35there's changes that need to be made and standards that need to be kept.
0:46:38 > 0:46:43This will be the first time the two have ever spoken to one another.
0:46:43 > 0:46:45Your room is immaculate.
0:46:45 > 0:46:47- Thank you.- Thank you. - THEY LAUGH
0:46:47 > 0:46:49Clearly you're ultra-houseproud.
0:46:49 > 0:46:52And then when I went down into the communal kitchen,
0:46:52 > 0:46:54I was like, "Uh." And that did...
0:46:54 > 0:46:57It did kind of, like, bring me down a little bit.
0:46:57 > 0:46:59- I don't like to use the kitchen. - Yeah.
0:46:59 > 0:47:00Just because of how it looks.
0:47:00 > 0:47:03- OK.- So I pretty much bypass the kitchen entirely...
0:47:03 > 0:47:06- Yeah.- ..and go straight to the room. - OK.- I think it would be nice
0:47:06 > 0:47:08to be able to sit at a table with another person.
0:47:08 > 0:47:11As it is, I wouldn't invite another person into that kitchen.
0:47:11 > 0:47:14I got the impression that you didn't really know the other housemates
0:47:14 > 0:47:16- that well.- No, not at all.
0:47:16 > 0:47:20When I first moved in, I think I met one within the first two weeks.
0:47:20 > 0:47:22- Since then, there have been changes. - Yeah.
0:47:22 > 0:47:25But I haven't really seen or met them or spoken to them.
0:47:25 > 0:47:29- Would you feel more comfortable, and it would be better for you if you did?- Absolutely.
0:47:29 > 0:47:32- The initial first meeting's normally bumping into each other...- Yeah.
0:47:32 > 0:47:36It would be weird if it's someone you've never seen before and they're suddenly inside the building.
0:47:36 > 0:47:40- Exactly.- Should they be inside the building, has someone let them in accidentally? So it would be nice.
0:47:40 > 0:47:45What I think our process is, is that when someone new is about to move in,
0:47:45 > 0:47:47everyone in the house will get a text saying,
0:47:47 > 0:47:51"Just to let you know, Dave's moving into room two on Tuesday,
0:47:51 > 0:47:54"feel free to say hello." Are you saying that you don't...?
0:47:54 > 0:47:56- Never seen that, no.- That's why I thought it was happening.
0:47:56 > 0:47:59I don't know if you've been out of the house while it's been dark
0:47:59 > 0:48:02and then tried to get back into the house while it's been dark.
0:48:02 > 0:48:05I have, actually. It was fine in the day,
0:48:05 > 0:48:07but when you come back at night, it is...
0:48:07 > 0:48:10- It's pretty dark. - It can be quite intimidating.
0:48:10 > 0:48:13- OK.- And your heart does kind of stop until you get inside the door.
0:48:13 > 0:48:17OK. When you're actually in the house, in your room,
0:48:17 > 0:48:20- would you feel safe enough then? - Yeah, I tend to lock myself in.
0:48:20 > 0:48:23I wouldn't necessarily leave anything out outside, or anything.
0:48:23 > 0:48:26- Sure.- Downstairs. I don't know if you've seen the back window.
0:48:26 > 0:48:29Yeah, I have. I think it's something
0:48:29 > 0:48:31that we probably should have picked up
0:48:31 > 0:48:33when we were inspecting earlier, as well,
0:48:33 > 0:48:36but I don't think anyone's ever mentioned it.
0:48:36 > 0:48:38It's easy enough for somebody to text,
0:48:38 > 0:48:40but you're relying on maybe eight rooms of people to text.
0:48:40 > 0:48:42Maybe somebody's already done it.
0:48:43 > 0:48:45Now Paul has met Hayley,
0:48:45 > 0:48:49he has to decide how much he wants to change in the property
0:48:49 > 0:48:50before she returns home.
0:48:50 > 0:48:53PHONE RINGS
0:48:53 > 0:48:55- 'Hello.'- Hi, Queen Bee, it's me.
0:48:55 > 0:48:58- 'How did it go?' - It was really informative.
0:48:58 > 0:49:02I think overall, my biggest take away is that I think, historically,
0:49:02 > 0:49:06perhaps we've been looking at the functionality of these houses
0:49:06 > 0:49:08and is everything working OK?
0:49:08 > 0:49:12But I think what I'm really learning is that we should very much be
0:49:12 > 0:49:15focusing on these properties as HOMES
0:49:15 > 0:49:17rather than just houses to live in.
0:49:18 > 0:49:21I think he's got to be true to his word now.
0:49:21 > 0:49:23If he's saying he's noticed something, then I think,
0:49:23 > 0:49:27as a responsible landlord, he would want to make that change now,
0:49:27 > 0:49:28so we'll see.
0:49:35 > 0:49:39This week has really taught me a lot about gentrification.
0:49:39 > 0:49:42My attitude before this week was, "Well, what's the problem?"
0:49:42 > 0:49:44You've got a rundown area,
0:49:44 > 0:49:47the government invests money in that area,
0:49:47 > 0:49:49you put all the nice coffee shops in,
0:49:49 > 0:49:51you get the young professionals in there,
0:49:51 > 0:49:53and the people who live there currently,
0:49:53 > 0:49:56yeah, they can't afford it, but that's fine, they can move.
0:49:56 > 0:49:59Living here, I see it's not as simple as that.
0:49:59 > 0:50:01- It's more complicated than that. - It's so complicated.
0:50:03 > 0:50:05After spending time in their tenants' homes,
0:50:05 > 0:50:08the landlords are about to leave.
0:50:08 > 0:50:10Anything else I can take to the car? Suitcase?
0:50:13 > 0:50:15So the tenants can move back in.
0:50:20 > 0:50:23I'm feeling really excited. I can't wait to see...
0:50:24 > 0:50:27..what changes have been made, if any.
0:50:29 > 0:50:32- Looking forward to getting home now? - I am, yeah, of course.
0:50:32 > 0:50:34- Seeing Yogi.- Yeah.
0:50:34 > 0:50:35Yes. Little bear.
0:50:36 > 0:50:38That was an experience.
0:50:38 > 0:50:41- Yes.- An eye-opener, wasn't it, really?- Epic.
0:50:41 > 0:50:44- We can't allow properties to get in that state.- No.
0:50:44 > 0:50:47And we can't go on the happy assumption
0:50:47 > 0:50:49- that people will call us.- No.
0:50:49 > 0:50:52The week in the flat was brutal all the way through.
0:50:53 > 0:50:55I'm happy to be going home.
0:50:55 > 0:50:59A bit unaware of what's going to be there when I get there.
0:50:59 > 0:51:02What has been done and what hasn't been done.
0:51:02 > 0:51:06If they put the rent up, I will never be able to afford that.
0:51:08 > 0:51:11Because that would then totally take away my weekly...
0:51:11 > 0:51:13You know, that's what I live on.
0:51:18 > 0:51:19After you, baby.
0:51:19 > 0:51:21Yogi Bear!
0:51:21 > 0:51:24Ah, Yogi Bear!
0:51:24 > 0:51:27Good to see you. Ahhh!
0:51:34 > 0:51:38The light! I can actually see where the key is!
0:51:44 > 0:51:48So he's added on a maintenance check.
0:51:48 > 0:51:51One's already on there, so I won't need to report it.
0:51:55 > 0:51:57Oh, wow!
0:51:57 > 0:52:00He's changed everything.
0:52:00 > 0:52:02It's all bright and clean.
0:52:02 > 0:52:05So much fresher now. So much nicer.
0:52:05 > 0:52:08Such a difference.
0:52:08 > 0:52:11So we've got a table we can fit more people round and a TV.
0:52:11 > 0:52:12I think it's great.
0:52:12 > 0:52:15I think it will create more time spent in here
0:52:15 > 0:52:17with the other tenants.
0:52:19 > 0:52:21Oh, we've got proper dustbins.
0:52:22 > 0:52:24You can walk to the bottom of the yard
0:52:24 > 0:52:25without having your head chopped off.
0:52:25 > 0:52:28You can already see that people are using the washing line,
0:52:28 > 0:52:30whereas before, I don't think anybody used it.
0:52:30 > 0:52:32It's much better.
0:52:35 > 0:52:36Aw!
0:52:38 > 0:52:42"Dear Hayley, thank you so much for allowing me to stay in your room this last week.
0:52:42 > 0:52:44"I've learnt a huge amount from the experience
0:52:44 > 0:52:47"and I've definitely learned that I should see my properties
0:52:47 > 0:52:48"as shared homes rather than shared houses.
0:52:48 > 0:52:51"I would also like to pay you all to go out for dinner
0:52:51 > 0:52:52"and get to know each other better.
0:52:52 > 0:52:54"Going forward, I plan to be more hands-on
0:52:54 > 0:52:57"and will personally inspect the property every six months.
0:52:57 > 0:53:01"There will also be a six-monthly professional deep clean of the communal spaces."
0:53:01 > 0:53:04I think in the past, I've looked at renting rooms to people
0:53:04 > 0:53:06like a transaction with clients.
0:53:06 > 0:53:10And I think maybe that's a bit too business-like now.
0:53:10 > 0:53:12Having had the experience of living there,
0:53:12 > 0:53:16I actually realise just how valuable human interaction is for people
0:53:16 > 0:53:20and, as a landlord, I definitely want to ensure that I'm creating
0:53:20 > 0:53:23an environment which is much more conducive, you know,
0:53:23 > 0:53:25to friendships, warmth, you know,
0:53:25 > 0:53:29familiarity, than maybe that we have done in the past.
0:53:30 > 0:53:35In Essex, Marc has decided he wants to be there when Linda moves back in.
0:53:35 > 0:53:36I'm nervous about meeting Linda today.
0:53:36 > 0:53:39I'm nervous about how she's going to react.
0:53:39 > 0:53:41I hope she understands our decision
0:53:41 > 0:53:45and I hope she's happy with what we've chosen to do.
0:53:48 > 0:53:51- Hi, Linda, how you doing, all right? - I'm fine, thank you.
0:53:51 > 0:53:53- How are you doing? All right?- Yeah.- Yeah, good.
0:53:53 > 0:53:55Let's just walk round the property
0:53:55 > 0:53:58- and we can have a chat about a few things, yeah?- Yeah, OK.
0:54:02 > 0:54:04Oh, it's bright.
0:54:09 > 0:54:13What we've actually done is, we've completely refurbished the property.
0:54:13 > 0:54:16New kitchen, new bathroom, decorated throughout.
0:54:20 > 0:54:21Really...
0:54:22 > 0:54:23It's beautiful.
0:54:24 > 0:54:26SHE SOBS
0:54:29 > 0:54:31It looks nice.
0:54:36 > 0:54:39We've also completely rectified that damp issue.
0:54:39 > 0:54:44All the mould's gone, it smells nicer and brighter.
0:54:44 > 0:54:46It's all lovely, it really is.
0:54:46 > 0:54:48Like a plush hotel.
0:54:50 > 0:54:52It's even better than a hotel.
0:54:54 > 0:54:56- Running water. - THEY LAUGH
0:54:56 > 0:54:58For me, my point of view, it had to be done.
0:54:58 > 0:55:03That place needed to be transformed and, having experienced it,
0:55:03 > 0:55:05I don't want anybody to live like that.
0:55:05 > 0:55:07I agree with that, I agree with that.
0:55:07 > 0:55:11One is always aware that these are real people
0:55:11 > 0:55:13with real lives and real feelings.
0:55:13 > 0:55:17- Thank you, Marc.- You're welcome. You're very welcome.
0:55:19 > 0:55:23This has been an experience for me as well, you know.
0:55:23 > 0:55:26And, to be honest, I think I had my head in the clouds a bit, you know.
0:55:26 > 0:55:30And I've really learned what responsibilities I have as a landlord.
0:55:30 > 0:55:32You know, what it's like for some people.
0:55:32 > 0:55:36I know you wanted some security and you were concerned about
0:55:36 > 0:55:40rent going up, etc, so I've done a contract for you
0:55:40 > 0:55:42and I've done it for 950.
0:55:42 > 0:55:45Even though the standard contract is six to 12 months,
0:55:45 > 0:55:47I'm happy to do a two-year one.
0:55:47 > 0:55:49- Thank you.- Gives you a bit of security.
0:55:49 > 0:55:52- Yeah.- Definitely puts her mind at rest.
0:55:52 > 0:55:55We've fixed Linda's rent for the next two years.
0:55:55 > 0:55:58At that rent, we're still making a profit,
0:55:58 > 0:56:01but we're making less of a profit than we could do.
0:56:01 > 0:56:04However, it makes business sense, what we've done,
0:56:04 > 0:56:06because it's added value to the property.
0:56:06 > 0:56:09So we've done all of this and the whole point is that this place stays
0:56:09 > 0:56:13warm and dry, so to keep the mould away, we're going to have to keep
0:56:13 > 0:56:16the place warm, keep the heaters on a set level.
0:56:16 > 0:56:21Now, I don't want you to be concerned about your energy bills,
0:56:21 > 0:56:24so we'll work together to get you on the best tariff
0:56:24 > 0:56:27and if it does look like your bills are going to go up,
0:56:27 > 0:56:29then I'll quite happily pay the difference.
0:56:29 > 0:56:31Let me know and we'll do that,
0:56:31 > 0:56:35so that you can enjoy a nice living environment.
0:56:35 > 0:56:38Thank you. I didn't expect nothing like this.
0:56:38 > 0:56:40It's out of this world, really.
0:56:41 > 0:56:44Got a new flat, Mum.
0:56:44 > 0:56:45HE LAUGHS
0:56:51 > 0:56:55- What do you think?- Oh, it's lovely. This is nice.
0:56:55 > 0:56:57It's better than last time.
0:56:57 > 0:56:58THEY LAUGH
0:56:58 > 0:57:00I've taken a lot out of this experience.
0:57:00 > 0:57:04What I'm feeling right now, I'm really, really lucky.
0:57:04 > 0:57:07I'm so lucky, because I have control of my own destiny.
0:57:07 > 0:57:10That could have been me.
0:57:10 > 0:57:13If Dad hadn't taken the steps he's taken in his life,
0:57:13 > 0:57:17I could be living on 50 quid a week. But I was really lucky
0:57:17 > 0:57:21to have that head start and have the opportunities I had.
0:57:21 > 0:57:23Yeah. That's the first time he's ever said that, by the way,
0:57:23 > 0:57:26- about being lucky that he had a head start. - HE LAUGHS
0:57:26 > 0:57:28I...