Registered with Property118.com
Wednesday 23rd March 2016

Insures properties through a broker recommended by Property118

Latest Comments

Total Number of Property118 Comments: 24


17:15 PM, 24th August 2019
About 4 weeks ago

A Landlord's Tax Planning Disaster

Hi Mark,
Is one issue that may arise be the transfer of the beneficial interest in the mortgage debt to the wife and children? If the interest payments are £100k a year, that indicates a mortgage debt of at least £2 million? Might SDLT be due on the transfer of this debt (even if it’s left in the husband’s name on paper)? It’s the question that I never seem to get the same answer to from anyone!... Read More


8:01 AM, 27th July 2019
About 2 months ago

Brokenshire to stamp out 'poor doors'

In theory having ‘one door’ and shared facilities like playgrounds is what a lot of us would agree is how our society should operate.

However the issue here is actually about service charges - who pays for the upkeep and maintenance of the shared facilities.

The point that seems to have been missed here is that the privately owned flats generally pay a high service charge to cover the cost of the concierge, lifts, gym, parking, playgrounds etc.

As someone mentioned, often the building for rent is sold to a housing association (or sometimes the whole site is originally developed by the housing association who use the profits from the private sale to fund building their stock). The housing associations does not contribute to the service charge or has their own much smaller service charge to cover the stripped back common facilities to keep the rents at the low affordable levels.

The subtext here is that the private homes should indefinitely subsidise shared facilities for the housing association homes. People should just be honest about the reality of the situation. If that’s what ends up being the law, then those buying can decide if that’s what they want to do. Personally whilst I have no problem with sharing facilities, I would have a problem having to pay a high service charge so I’d just buy somewhere that didn’t have this...

If others feel the same, then these developments wouldn’t be viable just as another commenter on here has pointed out.... Read More


10:21 AM, 18th May 2019
About 4 months ago

Best Deposit Protection for disputes?

I just looked up Zero Deposits and their site states:

‘If you're responsible for any loss or damage, you'll need to pay for it. We use TDS to expertly evaluate any disputes, so you're in safe hands.’

So I can’t see if being any less biased towards tenants than the standard TDS service. It seems like it is really there to help cash flow of tenants to not have 5 weeks rent held for the duration of their tenancy.

I’ve protected over 100 deposits myself over the years (plus at least the same number where agents have held and protected them...I’m including renewals in those figures).

I’ve only once needed to go through a dispute with Mydeposits. It was a joke. My report was over 50 pages long, with detailed photos, videos, invoices etc. I treated it as a learning experience having never been through it. The tenants tried to dispute the check out cost for example even though it was in the AST - it was done by an independent clerk who is a member of the trade body etc. But they tried to claim it was a relative of mine (it was not!)

The tenants had attempted to fix some issues themselves - for example in bathrooms with cream tiles and grout, I use matching silicone for a contemporary finish. I also use a specialist mastic man who gets a neat finish. The tenants never cleaned and it was so mouldy, they then bought some cheap white silicone and smeared it half way over the mouldy part so I was left with a seal that was half beige and neat and half white and a mess. The tenants claimed ‘there is no such thing as beige silicone’ and despite me taking photos showing it, having invoices for the work and for Mapei beige silicone, the adjudicator awarded nothing for that part as the tenants had ‘fixed the issue themselves’.

The tenants paid for a professional clean and of course chose the cheapest company they could who did a terrible job (evidenced by the check out). I paid for a few hours of professional cleaning to sort the specific issues but was awarded nothing as I ‘should have allowed the tenants to come back and sort the issues themselves of via their company’ (even though they had stopped communicating with me and never asked to do this!)

The only amounts I received in full were for things like the carbon monoxide alarm that went missing and damage to floor tiles that I had to have professionally cleaned (I think I only received that money because I showed a video of me trying to clean it with a steam cleaner myself first!)... Read More


8:09 AM, 11th May 2019
About 4 months ago

How can I help a previously homeless tenant?

It’s great that you want to help an old tenant in distress. The best advice will come from the council & charities like Shelter. But unless you are willing to help find the tenant alternative accommodation yourself, there may be little practical that you can actually do unfortunately.

I think whilst you are entitled to have your own opinion on the new landlord’s practices, I think there is a wider picture here.

You mentioned that you sold at a nice profit. Therefore your lower base cost allowed you to charge lower rents. As others have commented, the new owner has already invested more than you before any further works (whether you think those are necessary or not) so for them to make the same as you did they will have to charge more.

I don’t know your circumstances or why you chose or needed to sell. If you are a good responsible landlord with an excellent relationship with your tenants, then the best thing for your tenants is for you to stay being their landlord!... Read More


8:44 AM, 4th May 2019
About 5 months ago

Scrapping Section 21 could have an even greater impact than Section 24

Very well written article Paul.
My opinion is that if there was a properly funded overhaul of the section 8 procedure then perhaps the removal of section 21 wouldn’t be disastrous.
However, as you point out, the current system is chronically underfunded and the noises seem to be that section 8 will remain in the courts as they are.
That will be a disaster.
The tenants campaigning groups on the whole will be happy to see landlords struggle and suffer as they see it as ‘payback’, such is the level of vilification of landlords.
Unfortunately there is no foresight that once the PRS shrinks, there may be some benefit for a small proportion of renters who cannot afford to buy now but will if prices drop. But a far greater number of renters will suffer due to lack of supply and like you say, it will be the most vulnerable.... Read More