If I put my houses in my tenants name would I be exempt from onerous retrospective legislation?

If I put my houses in my tenants name would I be exempt from onerous retrospective legislation?

11:27 AM, 1st December 2021, About 2 years ago 37

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Yes, I know this may be the most ridiculous question. But I ain’t Einstein even though I have 27,000 times more common sense than the Govt and Nottingham City Council.

You only know the answer if someone tells you. So come on Ian Narbeth, Chris Possession Friend and all you other Legal experts.

I’m talking could we now tell Licensing, Sorry Licensing Bafoons, tenant part-owns, she don’t want Licensing and your extortionate fee and regs and rules telling her she can’t have open-plan kitchen when her Mum does, but you discriminate against tenants like they are little children being told they must have this and that.

Sorry EPC, she don’t want any more work being done.

I’m only suggesting a 5% stake which would be 7kish, which I don’t mind anyway as I’m gonna give them that should they ever wish or be in a position to be able to buy from me.

I know the tenants could have me over a barrel, saying We’re selling this now, Mick. Well, that suits me fine because I want to sell a lot of them anyway. And the 7k would only be the same as above.

Would a pitfall be they could say No Mick, we ain’t ever agree to sell to anyone? And they’d never sign?

Most of mine are on Benefits, would Universal Credit then say Sorry not paying your rent, you part own the house.

I’m gonna guess some of you are gonna shoot me down in 9 seconds saying Don’t be ridiculous Mick, this and that will happen. And Licensing will still apply.

Thanks in anticipation of quelling my dreams.


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Comments

Mick Roberts

5:52 AM, 6th December 2021, About 2 years ago

Reply to the comment left by Suresh Parikh at 05/12/2021 - 14:09
Ha ha no, I like to think I'm youngish, an example of mad Sundays:
https://photos.app.goo.gl/gV1BVbGRH9JkeeFH8

But yes, old timer and weary of all the retrospective changes Govt and Councils keep throwing at us when we already doing a good job. And these changes have always made it worse for tenant, having the opposite effect.

Solicitors not reply?

What I am concerned about, is I may never be able to sell my houses as all these Govt and Council changes are and have made it impossible for Benefit tenants to move. No landlord in his right mind now takes a Benefit tenant and even more so in Nottingham Selective Licensing area.
I used to get get 3 or 4 people leave me every year for whatever reason, if I didn't have anything for them to move to. No one is leaving any more because they can't. All the other landlords rents are approx £100 to £200+ more than mine, making em think Wow I can't afford to move even if I wanted to.

Mick Roberts

5:59 AM, 6th December 2021, About 2 years ago

Reply to the comment left by Bristol Landlord at 06/12/2021 - 01:09
My MP has already has asked the Council to start buying my houses to keep the tenants safe, I've offered the Council a discount, they get ready made income, for them decent yield investment with no outgoings we have to pay & endure like Licensing, but Nottingham Labour Council has ran out of money.
I've not thought about Housing Associations, something I'm gonna' have to chase.

I don't want to start anything else, no matter how much income etc. I've done me bit, time for some Me time.
That is an option selling to my HA, not thought of that either, someone would have to teach me all this.
Thought of the manager bit & did have something similar a few years ago, they not reliable enough, & I'm still the one responsible for Licensing etc.

Thanks BL, some different idea's there, I have no idea how to start this HA & does sound a long plan.

Darren Peters

9:27 AM, 6th December 2021, About 2 years ago

Just thinking Mick, and maybe I’ve missed something here but why don’t you start putting the properties in auction tenanted? If you’re offering the council a discount perhaps you can bear the discount you’ll be giving selling in auction. Similarly that company that appears on here buying properties.

Is it a financial consideration not to do this or do you feel you would be letting the tenants down? If the latter you can always keep in touch and advocate for them where it merits it.

J CHAPMAN

13:04 PM, 6th December 2021, About 2 years ago

Reply to the comment left by Mick Roberts at 06/12/2021 - 05:59
I approached my local HA and they were interested in buying tenanted properties. They were looking for blocks of houses on the same street close to where they already owned property. Unfortunately mine were scattered all over.
I approached estate agents and auction houses to ask if they had any landlords looking for tenanted property, one did and I sold as a portfolio. Paid a fortune in fees and took 20% BMV. But I am out!! Well nearly, still got 2 in the licensing area but they will be going next year.

Mick Roberts

13:56 PM, 6th December 2021, About 2 years ago

Reply to the comment left by J CHAPMAN at 06/12/2021 - 13:04
Yes, I'd like to do same, but me tenants won't let me (don't laugh). I'll only sell on a tenant if they been bad to me, however as the clock ticks down, I am upping the conversation with them.
We can no longer look after people cheap rent, service their boiler & everyone happy. Paperwork, retrospective rules/regs making it hard for Benefit tenants to have long term cheap homes for life.

Good on u to be out, bet it feels free.

J CHAPMAN

21:53 PM, 6th December 2021, About 2 years ago

Reply to the comment left by Mick Roberts at 06/12/2021 - 13:56
It was an amazing feeling, such a weight off my shoulders. 50% of the tenants gave notice when I told them I was selling. Like you, my rents were low, and I felt really bad about it. A call from a tenant who said her boiler was broken down, went to check only to find she had switched it off, made my mind up. I have gone into development and am working full time at that, I don’t have time for this sh#t!

Mick Roberts

5:51 AM, 7th December 2021, About 2 years ago

Reply to the comment left by J CHAPMAN at 06/12/2021 - 21:53
Yes I'd feel free when going on holiday, not being on the end of a phone for the odd emergency.

Ha ha yes it's just one extra thing now that tips us over the edge. That's what Govt & Councils don't get when they bring some'at else new in, they have no clue what they've chucked on us (chucked on the tenants) last 6 years or so.

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