Marcus Taylor

Registered with
Friday 11th October 2013

Latest Comments

Total Number of Property118 Comments: 19

Marcus Taylor

16:13 PM, 12th September 2014
About 6 years ago

Tenants have done a runner - what should I do?

I'm no expert on this but yesterday I went to a property event where an expert from a Landlord's Association was talking about this very same issue in the seminar I attended. You'll probably need to look into this further but he told us about a chap that had a property, tenant disappeared, no rent, no communication nothing and this went on for some months. Assuming he'd abandoned the place, the landlord went in, threw away the tenants junk, spruced the place up and re-let it. Anway, 5 months later tenant returns and it turns out he was in jail !! 😮 Landlord ended up in a barrel full of legal troubles because he'd unlawfully gained possession and also he had legal obligations to the chap he'd re-let the property too, so much so that all the issues ultimately bankrupted him. The lesson the speaker was saying was to make sure and go through all the correct legal processes to gain possession even if it seems obvious the tenant has abandoned the place.

I know sometimes speakers at events who are legal practitioners can seem way too technical and lacking in 'real world solutions' but I didn't get that from this speaker as on other issues he was pragmatic and seemed very averse to over complicating things with legal people when it might just be better to take a loss.

As I say, I'm just paraphrasing what he said, members on this board who understand these issues better might just jump in and give their thoughts to further expand this.

Best of luck.... Read More

Marcus Taylor

14:39 PM, 30th January 2014
About 7 years ago

Are leaseholds worth no value at the end of lease?

Reply to the comment left by "Hazel de Kloe" at "30/01/2014 - 13:23":

Hi Hazel,

Thanks for the link, its very interesting that leaseholders can get the share of freehold and the freeholder can not refuse as long as criteria is met.

I was having second thoughts about lease hold properties as I dont like the service charges too much, in some instances it eats into 18 months of rent earned and so far each leasehold flat I have seen, I can not see where the money is being spent due to the shabby conditions of the flats, I guess the freeholder is just using this money as extra profit. Not saying all are like that but from what I have seen all have been so far.

So I am considering share of freehold or share of freehold as in maisonette so only 2 freeholders involved.

Thanks for your comments though, much appreciated... Read More

Marcus Taylor

12:26 PM, 29th January 2014
About 7 years ago

Why has supply of properties dropped?

Reply to the comment left by "Mark Alexander" at "29/01/2014 - 10:35":

Thank you Mark for your thoughts on this phenomena ! I guess in London, certainly in the suburban areas where I've noticed the 'buying frenzy', hardly any will be in negative equity. However I think your point about people who are looking to downsize is spot on though I've noticed a dire lack of 2 bedroom flats which may not be prime candidates for downsizing. 'Help to buy' could arguably explain the surge in buyer interest but I (along with nearly every estate agent I ask) am still perplexed as to why the sellers have disappeared so abruptly and what needs to happen for that to reverse.... Read More

Marcus Taylor

11:27 AM, 28th January 2014
About 7 years ago

Worried about a 20% drop in property prices?

Reply to the comment left by "Vanessa Warwick" at "28/01/2014 - 10:19":

The property I had my offer accepted on (then revoked) was a nice but basic maisonette at 249,995 (to avoid stamp duty) in Enfield near the station, that price got smashed and latest is 270K! So I do believe yours will easily reach that, Walthamstow is doing very well. My money is on that yours will reach 275!... Read More

Marcus Taylor

10:24 AM, 28th January 2014
About 7 years ago

Worried about a 20% drop in property prices?

Reply to the comment left by "Vanessa Warwick" at "28/01/2014 - 09:47":

Hi Vanessa,

Great site and a great idea cos for me it has to be all about yield! I will take yours and Richards advice and try to look elsewhere out of London.... Read More