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


theft

Theft of tenant’s money ?

30/07/2014

I just had an angry tenant phone to say that £40 hidden in her bedroom has been stolen today (Tuesday). I was in her flat today by agreement, as was our cleaner and our valuer. I was not with the cleaner and the valuer all the time. I had told the tenant not to leave… Read more

22

Buy to Let Catch-22 Situation

29/07/2014

I have been attempting to buy a Buy to Let property now for some time now (at least six months) but have hit an impasse. I and the vendor have agreed a price and I have had a 75% LTV buy-to-let mortgage application approved. However, the property needs renovating – new GCH, kitchen and bathroom… Read more

Leaseholder or Freeholder who is responsible

Freeholder Gone Bust and I can’t Extend my Lease

28/07/2014

I own a flat in a block of six, all six owners have agreed to purchase the Freehold. The Freeholder was dissolved in 2002, our solicitor has contacted the Treasurys Solicitors Dept, who have replied to say that that companies assets are distributed to persons entitled, no interest was passed to the Crown as bona… Read more

urgent

My landlord is being evicted and gave me a 4 days notice to leave as well

I have been sub-renting a bedroom since February 2013. The couple who is sub-renting me the room have received a court order to evacuate the property on the 29th of July 2014. However, they only told me this on 25th of July at 11pm. I had a contract with them which was running for a… Read more

invisible

Disappearing Tenant

I will try and keep this to the point; Tenant moved in Christmas Eve, signed the tenancy agreement as a rolling one month. Not received rent for the last two months despite texting, phoning, writing several letters, but no response. Visited the property last week, all curtains and blinds closed, garden overgrown and was met… Read more

accountants

Accountant appears to have let me down?

25/07/2014

I have just received back my accounts from who I thought was a very good Chartered Accountant . I have been looking for ways to reduce my tax bill and came across Property118 advising ways to reduce liability. One of the ways was to distribute some of the rental profits around the family using your… Read more

Garden Plans

Odd shaped garden – not sure if I should invest?

I  would like some advice on purchasing a house with odd shaped garden, for Buy to Let purposes. The house is perfectly placed, in  good condition, but the garden is sort of “V” shaped, just 7 feet at the back. Open Garden area is still available overall around 25-30 feet. The area is in demand… Read more

Home

Prospective Tenants not happy for visit – Should this ring alarm bells?

24/07/2014

We have a nice big modern rental property and from taking on board a thread on here I asked my agent to ask my new prospective tenants if I could visit them in their home. My agent was absolutely shocked and said this had never happened before but would ask the ‘tenant’. She got back… Read more

possession

COUNTY COURT – The request for a Possession Order is premature?

I am a landlord that has applied to the local county court for possession of my property. My tenant has received a letter :- “The request for a Possession Order is premature, being only 4 days after issue and the same day as deemed service” What should I do now as a landlord Thanks Jaz

end

The End Game

23/07/2014

I am keen to hear more experienced Landlords view on their exit strategy’s. The reason I am thinking about this now is that it is time to refinance a couple of HMO property’s that I purchased with cash (property’s were not mortgageable). I am now 41 so have plenty of years left to obtain mortgages… Read more

Big

Buy to let portfolio – help me see the bigger picture

I have just cleaned up my act, paid my debts and now got 2 jobs earning avg £2500 a month and living with my mum! Now – I want to get into property development. Build my own buy to let portfolio! I can only save £10, 000 a year. looking at the figures, in order… Read more

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