Martin Thomas

Registered with Property118.com
Wednesday 8th August 2018

Trading Status
Partnership

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 37

Martin Thomas

9:53 AM, 28th March 2020
About 2 days ago

Tenant leaves with 3 years left but 4 years commission paid to agent?

Surely, if the contract with the agent doesn't say they can charge several years' commission up front and NOW, and their terms and conditions don't say it either, then I don't see that they have any right to charge it. That must give you grounds to sue them to return the overcharged deposit. The fact they have said it's their 'policy' wouldn't cut any ice in a Court unless they could prove they had communicated that policy to you in advance so the terms of the contract were clear.... Read More

Martin Thomas

10:56 AM, 27th March 2020
About 3 days ago

My letter template for students leaving?

Reply to the comment left by GK at 27/03/2020 - 00:02
Students pay for all their utilities in the contract.
Council tax - it doesn't matter if they aren't physically present in the property. If the tenancy is for a fixed period, then they are still the 'occupier' just like when they go off for the Christmas or Easter break.... Read More

Martin Thomas

15:46 PM, 26th March 2020
About 4 days ago

PLC's pushing small landlords over the edge

I would be firm and say "no deal". They are getting massive help from the government;
- defer VAT submission
- defer tax payments
- no business rates for 12 months
- 80% of staff wages paid where they wish to lay people off
As a successful company, they probably have reasonable cash reserves so they are simply trying it on. Disgraceful behaviour. Name and shame them.... Read More

Martin Thomas

12:35 PM, 24th March 2020
About 6 days ago

My letter template for students leaving?

It's a good letter but I would add the following;
- the tenancy is for a fixed term (12 months in my case) so they can't simply walk away. [not 100% sure about this but that's what I'll be saying anyway - advice welcomed]
- the mortgage payments are only being deferred, they remain payable.
- as you say, one assumes the student loan arrangements should still be in place so they should have the means to pay the rent as they had originally planned, especially now their other living costs, such as food, broadband, etc are being funded by Mum and Dad and they won't be going out for a while.
The only group that has contacted me so far asking for a rent cancellation/reduction is a group from Romania. I'm keeping my fingers crossed!! Their rent is due a quarter in advance on 1 April so we'll see then!!... Read More

Martin Thomas

10:30 AM, 3rd January 2020
About 3 months ago

Software for property company tax return?

Yes, this is really annoying.
I use Forbes software. It costs £60 per annum for the 'unlock' code to allow the CT600 to be submitted in IXBRL format. I prepare my accounts in Excel then simply type the trial balance figures into Forbes and submit. It's a bit more complicated than that but it does work.
Their website is http://www.tax.co.uk
Tel 01908 584674
It might be worth phoning to discuss which package you need to download. I think it is Protax but all my accounts stuff is on the desktop and it isn't turned on at the moment.
They sometimes need a couple of calls.
Good luck... Read More