LordOf TheManor

Registered with Property118.com
Saturday 20th February 2016


Latest Comments

Total Number of Property118 Comments: 57

LordOf TheManor

14:29 PM, 26th March 2021
About 2 weeks ago

Purchase of property in Shildon?

Hi Rameez
The area looks fine according to the last census data (of 10 years ago). I'd say £30k is a more realistic price for it though. What's the door number of the property?... Read More

LordOf TheManor

11:42 AM, 13th February 2021
About 2 months ago

Changing a CT band - before, during or after?

Just to update this thread.... things have definitely changed with government legislation.

My old paperwork shows that I was given an A2 exemption for 12 months (granted for major structural repairs) which was lifted as soon as the council issued their 'Completion Statement' which in all my cases was always before the 12 month ran out.

From structural completion my newly created flats were empty while 2nd fix and decorating took place. I was granted 50% council tax discount for the newly re-rated unoccupied properties until the first tenants moved in.

Just as well!! Before you conclude that this was a 'gift' consider the following:

Commercial loans for non-mortgageable properties were charged at 5% over the base rate (running at +/- 10%) plus all sorts of fees as well as draw down costs all through the early and mid 1990s.

My first BTL mortgage in 1997 was at the interest rate of 8.5% which peaked at 8.95% in June 1998. The interest only loan for £55,899.00 incurred monthly payments of £416.92.... Read More

LordOf TheManor

14:13 PM, 9th February 2021
About 2 months ago

Changing a CT band - before, during or after?

When I did this the last time it was 2013 and the notification took effect almost immediately. The prevailing band was suspended during the works and the VOA verified the building changes via the planning application.

They didn't even need to come out to do the revaluation. They simply did a desktop valuation based on similar properties in the area. They wrote to me with their proposed banding, asked if I agreed with it (I did) and they said to let them know when the property was signed off. That became the start date for the new banding.

It was the same as my previous 3 experiences dating from 1995 - totally fuss-free every time. Apply now!... Read More

LordOf TheManor

10:59 AM, 3rd February 2021
About 2 months ago

Convert to HMO or not?

Convert to an HMO??? This is the quickest way to trash your investment. Forget about any capital growth..... and bring the community down, too, while you're at it.

Are you mad, careless or just plain greedy?... Read More

LordOf TheManor

17:26 PM, 25th January 2021
About 3 months ago

Police have taken the keys off the male tenant

Well..... I think what I'd do is contact the housing department at the local council and let them know what the situation is. Potentially, the female in the house might have a housing benefit claim as it is likely that the ousted-out male (whatever the circumstances) will not contribute or pay the rent if he's not living there. She's also on her own with the utility bills as well as everything else going on, isn't she? She could quickly slip into debt and life's downward spiral.

The male might also need housing help.... so where is he if he's not in your rental? Not that you need to know, but to be able to contact him with information you acquire from the local council would be a good step forward. They're both your tenants, after all.

All you need from the council is their emergency contact information and ideally a named contact that you can give to your tenants. You then contact your tenants and tell them that the onus is on each of them to let the council assist them at the earliest opportunity.

IMPORTANT POINT: after your call to the council, no matter what detail you give them, the council will NOT contact your tenants. It is for YOUR TENANTS to contact them in their own right, not the other way round.

Stay impartial and keep a record of your putting both tenants in touch with the housing department. Invite the tenants to stay in touch with you on how things go and let them know you'll work with the council by providing the tenancy administrative details, the rent history etc. to make things work as well as they can from here. (The aim is to foresee an administrative mess that will mean you'll be a landlord out of pocket for a longer time if you don't act now).

Park the tenancy issues - the whole situation is too volatile to say what the best end game is yet. By the time you get something sorted they could be back together again!!

However, as there is now a government entity involved (the Police), there is reason to stick with the government entities, hence the advice to get hitched up to the local government housing department. Let them sort it out.... i.e. if the cops say the male can't live at the house, let the council be the sorter of his housing issues, not you the landlord.

From a landlord's point of view, if the female stays in the house on her own, that's fine as long as her rent is paid. The reason for you as landlord to get involved is because your rent revenue is at risk. Don't leave this situation to fester or it will take even longer and more complicated to resolve.

If the female cannot afford the full rent on her own, she needs to apply for housing benefit or if already on it or on top up, she needs to inform the council of her change of circumstances as of now. The sooner, the better.

That way, she'll have the means to pay the rent to stay at your property. That is what the council will want as their end game - to keep one less homeless person/family from ending up on their books and in a hostel while they wait to be re-housed at some indefinite time in the future.

Hope this helps. Good luck!

Lord... Read More