Wealth update – 31/12/2021

Deposit drama (a different one from last month)

This keeps happening, another scumlord story… Our most recent ex-landlord is trying to deduct £125 from our security deposit for additional cleaning and water “damage” to the board around the kitchen sink.

We paid around £200 for a professional end-of-tenancy cleaning and the ex-landlord is still trying to get more money for various “ommissions” and is also claiming £80 for water “damage”.

I’m not having any of her crap and I got very angry after reading her email about the above. We only stayed in the flat for 6 months. It’s insane to claim water damage to the board around the sink – of course, it will get wet – it’s a sink with a tap that is in daily use. The water damage thing is ridiculous – if the board isn’t water-resistant then it’s completely unfit for purpose and not our responsibility anyway. However, what damage can happen in such a short i.e 6-month tenancy?

Anyway, I requested she refunds the entire deposit to us and provided our bank details for the payments. She hasn’t made any payments and it has now (today) been 10 days since I requested the payment. Therefore, I am now eligible to take it to the tenancy deposit dispute service, which I am more than happy to do.

Following that, and once we get our deposit back, I will take her to court as she has also failed to act in accordance with the tenancy deposit protection rules. This will be the third time I’m doing this with ex-landlords and all the previous times have been financially productive. 🙂

Health

I was sick for most of December. I had flu-like symptoms but it wasn’t Covid. This time I had lots of phlegm and gross stuff in my throat and upper chest etc… Maybe a lung infection, I don’t know.

A week ago I got the Covid booster as well. I understand that all the vaccinations won’t prevent me catching Covid or the flu, but I am expected to have milder symptoms and not end up in a hospital. So, at least I’ve got that going for me…

I feel much better now, thanks for asking. 🙂 

Property purchase

There’s been no update on my flat purchase, which didn’t progress much due to the holiday period. I expect this all to be sorted around March 2022.

Counting my beans

December was a small positive month for my portfolio. My net worth as of 31/12/2021 has reached a new all-time high of £356,592 – it’s an increase of £5,061 or +1.4% from the end of November 2021. 

The above results are after I made a £1,633 GIA top-up, £452 pension top-up (deducted from salary + employer contribution), and added £200 to my cash reserves.

2021 net wealth summary

I’ve calculated that my wealth increased by £195,353 (from £161,239 on 1/1/2021) in the 2021 calendar year – of this £26,825 was new money and £168,528 was the investment return – that’s about £14,000 of gains each month in 2021!

2021 has been a fantastic year for my portfolio. I hope you had a good year too and I wish you a happy new year!

Wealth update – 30/11/2021

Deposit drama

We finally got a payout from the ex-landlord of £2,500 + fees we paid to start the court claim (they failed to protect our deposit within 30 days of receiving the deposit payment). We ended up settling and it didn’t get to court. I’m very happy about this outcome.

Health

Last month I said I might be allergic to something which was causing my cough. Turns out all the tests were negative and I’m not allergic to anything. So… it’s just some sort of sinus inflammation and I’m taking a nasal spray to alleviate the symptoms and that’s been working really well.

I suppose it’s good to know there’s nothing wrong. 🙂

Personal and new home(s)

As I’m now single, I’ve moved to a flatshare and am renting a small single room. This is intended to be temporary. I am also in the process of buying a two-bed flat – my offer has been accepted and mortgage approved, it’s just the legal stuff that now needs to be done. I expect to be in my newly bought home earliest in February 2022 but it can easily end up in March as well. The majority of my LISA is now in cash as it’s there to pay for my 20% deposit.

There will be a large drop in the wealth chart when I buy the property as the majority of the LISA will disappear. I have decided that I will not include my property in the net wealth charts as my home is not an investment.

Counting my beans

November was a very good month for my portfolio. My net worth as of 30/11/2021 has reached a new all-time high of £351,531 – it’s an increase of £55,617 or +18.8% from the end of October 2021. I increased my wealth by almost my annual gross salary (of £55,900) in one month. 🙂

My EIS holdings had another crowdfunding round and the share price increased by 145% creating £21K of gains. Taking risk is paying off as I originally only invested £2,000 and received £600 back via EIS tax relief. This investment is now worth £35K+.

The above results are after I made a £1,633 GIA top-up, £452 pension top-up (deducted from salary + employer contribution), and added £350 to my cash reserves.