Landlord who makes £20,000 a MONTH spends a week living in his tenants’ slug-infested home… and he’s appalled by the conditions
It didn't take long for the property mogul to realise some big changes had to be made
A LANDLORD who owns a property portfolio worth over £1million has been forced to see how the other half live - by spending a week in his tenants' hazardous property.
Birmingham-based Samuel got a huge shock when he stepped into his tenants' shoes, uncovering problems he didn't know existed.
The savvy businessman made a fortune by buying homes at rock-bottom prices and selling or renting them out for a good profit.
This has allowed Samuel to build up an impressive passive income, and he rakes in up to £20,000 a month barely lifting a finger.
Speaking to BBC cameras for new show The Week The Landlords Moved In, he explained: “I probably spend less than five minutes a month managing my portfolio.
“I don’t keep in touch with my tenants, I don’t keep an eye on the property whatsoever.
“In fact, most of them I haven’t visited in years.
“I know that I am a good property investor, but am I a good landlord? We’ll find out.”
Tonight’s programme shows how Samuel fares living in his tenants’ house in County Durham.
The home is currently occupied by single mum Marie, 44, and her two daughters.
But when they moved into the property, they knew they’d have a tough task ahead of them when it came to doing it up.
Marie explained: “It was disgusting, it was horrible.
“The walls were all covered in faeces – cats’, dogs’, children’s.
“This carpet, there was a massive hole in the middle of it and there were maggots living in it.”
If I kick up that much of a fuss it’s going to be easier to get new tenants
Concerned tenant, Marie
If this didn’t sound horrific enough, Marie also claimed there were mouldly beds, slugs crawling through the floors and a damp problem.
But the most concerning issue was the ceiling, which was beginning to collapse because of a leak.
Speaking about why she hadn’t complained more, Marie said: “I don’t want him to think that we’re ruining his house… if I kick up that much of a fuss it’s going to be easier to get new tenants.”
After taking a look around the house, Samuel couldn’t believe the state it had been left in.
He said: “It looks like it’s falling apart, that’s crazy. It looks like it’s still coming off. I don’t like that – why is it like that and why do we not know until now?”
Over the course of a week, the landlord had to live in the crumbling home on Marie’s tight budget.
As well as feeling queasy when he saw slug slime on the cooker, Samuel and his partner failed to keep their finances within his tenant's average range.
When the experiment was complete, Samuel knew he needed to do something to help his tenants.
Even though he only makes a £25 profit per month for this particular house, he vowed to improve the conditions for the family.
Not only did Samuel promise keep the rent the same for the next two years, he began some crucial building work.
After installing a vent to stop the slugs from getting in, he made arrangements to get the walls and ceilings re-plastered.
The Week The Landlord Moved In airs on Wednesday at 9pm on BBC1
Last week, the programme shocked a landlord who spends £1.5k a WEEK on holidays.
And a previous episode gave millionaire landlords a reality check when they spent a week in their tenants' shoes.