Hedley

Registered with Property118.com
Saturday 14th July 2018


Latest Comments

Total Number of Property118 Comments: 12

Hedley

13:47 PM, 1st October 2019
About 5 months ago

Policy Light

Although I am a landlord, I have never agreed with the right to buy. It depletes the social housing stock, whether that be Local Authority or Housing Association and leaves councils with inadequate funds to replace it (assuming they were allowed to keep the proceeds). It is merely a vote catching ill advised policy and should be scrapped.
However, when it comes to the PRS, as long as it is up to the landlord as to whether it should sell, that there is no compulsion and that there are shared incentives (eg. CGT relief) I consider this to be sensible.... Read More

Hedley

12:28 PM, 24th September 2019
About 5 months ago

Commercial shop contract advice?

Agreed Larry. All this just goes to show that it is not sensible for an amateur to deal with commercial property management.... Read More

Hedley

15:45 PM, 23rd September 2019
About 5 months ago

Commercial shop contract advice?

Larry
unless the tenant subsequently applies for relief against forfeiture, in which case the court would be involved.
All the more reason to use a professional to advise if and what action to take and when.
In the matter of lease renewals and rent reviews, it is very important to employ a Chartered Surveyor. If there is a dispute (in rent reviews) which the parties cannot resolve, leases normally stipulate that it should be decided by a Chartered Surveyor acting either as an independent surveyor or arbitrator and if the parties cannot agree on the surveyor to use, the president of the Royal Institution of Chartered Surveyors is to appoint one.... Read More

Hedley

16:58 PM, 20th September 2019
About 5 months ago

Commercial shop contract advice?

I agree with the above - you should not try to deal with a commercial lease using a template and, as you are not conversant with this type of property, you should seek professional help - whether this be a Solicitor or Chartered Surveyor. I would add that the majority of commercial leases are not contracted out and the tenant has extensive rights to a renewal lease, subject to certain exceptions. They also have the right to ask the court to set the new terms if the landlord and tenant cannot agree. I will not go into details, suffice it say - get advice!... Read More

Hedley

18:19 PM, 14th January 2019
About A year ago

Letting Agent liquidation - Questions about the tenants deposits?

Reading between the lines, I suspect that not only were deposits not protected, but that the agent concerned probably didn't belong to a redress scheme. A good agent would also have lodged both rental monies due to you and deposits (if not lodged with the scheme) due to the tenant in a separate client account.
Check with the liquidator as, if lodged in a client account with trustee status, it shouldn't belong to the assets of the company.
I do however suspect you are on a hiding to nothing.
Your rights in relation to serving certain notices on the tenant are severely curtailed if proper procedures have not been met, but I would suggest that, if possible, you check what has been done in relation to :
right to rent information, gas and electric certificates, EPC assessments, rent increase notices - indeed a whole host of compliance requirements. If anything is missing, or you are unable to find out, I recommend that you put matters in place as soon as possible and obviously ensure the tenant pays no more to the agent or liquidator.
If you are staying with the agent proposed by the liquidator, check that the firm are in a redress scheme and that all client monies are protected. My own preference here is to use a firm regulated by the RICS (Royal Institution of Chartered Surveyors).... Read More