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The
history of LetaLife.com In the mid nineties, Michele from LetaLife.com got caught, along with thousands of other homeowners, in the negative equity trap. She shares her experiences and tells us what she has done to help homeowners in similar positions..
The only way to find tenants was to engage a letting agent and fork out mega-bucks for the privilege. What’s more the only way to find a place to rent was to throw ourselves on the mercy of letting agents down south. Sensing desperation they showed us the dregs of their books. Pressed for time and with a low budget we were forced to pick the best of a bad bunch. We ended up in a property without central heating and with a bathroom that smelled very unpleasant due to a combination of damp and distemper paint. All of this was an end result of days of traveling expense and stress. Plus our tenants in Nottingham left our house in need of serious repair, devaluing the property even further! After four moves in as many years, and finally in our own home again, I had time to mull over the problems involved. There had to be a better and cheaper way of doing things. So I decided to put together a website that someone like me could use. One that was clear, logical, easy to use, and FREE. In fact, the site I would have fallen on my knees and thanked providence for – if it had existed in those early days of the internet. I decided to call it Letalife. Today the website we set up has become one of the most reliable and well respected property rental portals in the UK. Nine years on and we are still going strong and still have plenty of ideas and plans for the future. It just goes to show that even negative equity can be turned into a positive situation. Here we are in another property slump and many more people are finding themselves in the same situation we were in all those years ago. But we hope that at least this time they have LetaLife to help them through some of the more mundane and stressful aspects of renting property.
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