Readers Questions 's Articles

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About Readers Questions
It's usually far more effective to learn from other people experiences than is it to learn from your own mistakes. "Readers Questions" are some of the best read articles on Property118.com. If you would like to seek the opinions of other landlords and letting agents why not submit a Readers Questions article of your own. We will not reveal your identity if you don't want us to. Any guidance offered by Property118 members is obviously done so in good faith and at no cost. It must not be construed as professional advice, even if the person offering the guidance is professionally qualified. It's good to know that you are not alone though and a bit of guidance can often be useful. No question is a silly question. If a question has been answered before we will let you know and point you to a link. We may ask you to post your question on another thread if it's been well commented on previously by people in similar situations or we may set up a brand new thread and bring it to our readers attention by including a link in our Newsletter. It needn't cost you a penny either :) Please see the form below. If you can't see the form please CLICK HERE


Am taking the correct steps

Am I taking the correct steps?

19/09/2014

We have 2 properties on joint mortgage. One of them is Residential mortgage (Property A) and other on Buy-to Let (Property B). We were out of the country between August 2010-April 2013. During this period, I was renting out both the properties without changing the mortgages. We moved back to UK last year in April… Read more

Flat rent moving in today

Flat rent moving in today

Can someone give me some urgent advice?   My son and his two friends are moving into a shared flat today on an assured short hold tenancy basis. It is 3 bedroomed and two of the bedrooms are absolutely fine. The third however, has one completely wet to touch wall and mould – where does… Read more

Life changing property career decision

Life changing property career decision

I’m at the point of making a life changing decision, for the past 5 years I have managed to live quite comfortably off the rental income from a portfolio of 12 properties. I was fortunate enough to take out lifetime tracker mortgages and have benefited greatly from the exceptionally low Bank of England base rate…. Read more

Return Letters - Tenant Information

Return Letters – Tenant Information

After a year long battle, I have recently evicted a tenant and am in the process of repairing the damage to the property by the previous tenant in order to re-let. There are a number of letters still being received at the property addressed to the previous tenant which give a strong indication of possibly… Read more

Landlords Answering Service

Landlords Answering Service?

I am thinking of using an answering service for my property business.  Someone gave me this advice for a variety of reasons such as giving a professional image, never missing a phone call and screening calls. I have done some research and come up with quite a number of options. I believe there are people on… Read more

Not made aware HMO licence required

Not made aware HMO licence required

17/09/2014

My previous letting agent did not make me aware I needed an HMO licence on a property which they subsequently rented to 3 people.  It has now been picked up by the new agent and I have applied for a HMO. Am I liable to prosecution? Thanks Gary

HMRC can't decide if I should register as a Self Employed landlord!

HMRC can’t decide if I should register as a Self Employed landlord!

I manage the residential letting of 7 properties which I jointly own with my wife and/or brother and/or sister and HMRC can’t decide if I should register as a Self Employed landlord. Currently, I am not registered as Self Employed and normally complete the Property section of my Self Assessment tax return. However, as tax… Read more

Break Clause in Tenancy Agreement

Break Clause in Tenancy Agreement

I use an agent for one of my properties who has now inserted a “break clause” in the standard 12-month AST. The wording is the same for the Landlord as it is for the tenant. This clause appears to me to effectively make it a 6 month AST.  Is this a standard break clause? Do… Read more

Local Residents Discriminating Against Student Development

Local Residents Discriminating Against Student Development

We are a small property development partnership that mainly buy houses, do them up and either sell or rent them out. For our first major development project we recently bought a plot of land near the city centre which is predominately a student area being so close to the university.  We applied for planning application… Read more

Minimising Inheritance Tax Liability

Minimising Inheritance Tax Liability

My wife and I have in addition to our own property three rental properties, owned outright as tenants in common. We wish to minimise our IHT liability for our two children. We have been advised that if we give them half of the properties as tenants in common (i.e. a four way split) and do… Read more

Lips

Our lips are sealed?

16/09/2014

After 7 years living abroad we are moving back to the UK in the next couple of months. Before we left in July 2007, in the dim distant days of self certified buy to lets and sub prime lending, we transferred the mortgage on our home from a repayment to a buy to let mortgage…. Read more

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