Gary

Registered with Property118.com
Wednesday 22nd January 2014


Latest Comments

Total Number of Property118 Comments: 22

Gary

12:32 PM, 18th June 2020, About A year ago

Tax Consultation Testimonials

I first met Mark Alexander over 15 years ago when I attended a property investment seminar he organised in Central London. At the time, I had just remortgaged some properties in my portfolio and raised £250k+ that was sitting in various savings accounts. During the interval of this event I had the good fortune to have a chat with Mark. I doubt if he can remember. I can, because it changed the path I was taking. I was of the belief that it was not a good idea to buy more property. However, Mark's seminar, his views, comment, vision and our chat convinced me and motivated me to return to the market and buy more property. This decision has proved to be a excellent one in terms of capital growth, rental income, portfolio profitability and increased family wealth.
Since that first meeting I have always had the utmost respect for Mark as an individual who has always made himself available to not only help but educate others. I being one. I consider Property118 to be a fantastic website that provides all landlords including accidental, first-timers, small , portfolio and professional landlords with a forum and knowledge base that assist in managing one's investment properties. Mark was instrumental in setting this up, developing the website and offering a wide range of related services. I wish him well with his latest venture of Property118 having its own You Tube tv channel.
For me, the biggest influence in recent years in my property investment journey has been Mark and everyone at Property118 including Mark Smith. The help my wife and myself have received from Property118 with referference to our tax planning, tax efficiency has been excellent. For four years since the introduction of Section 24, I've been researching and exploring ways for our property portfolio business to be more tax efficient and hence more profitable. I have spoken to many so called "tax specialists" during this time in an attempt to arrange our business in a way to benefit ourselves and family moving into the future. Without doubt, the best advice and support has come from Property118 and from Mark Alexander himself who has always been generous with his time and enthusiastic to find the best way to solve landlords problems. As a result of Mark Alexander's and Mark Smith's help my wife and myself have managed to incorporate without the need to refinance, thus saving us thousands in the process.
In concluding, I'd strongly recommend any individual from those taking their first steps as landlords to experienced landlords to use the Property118 website, especially the tax planning consultation service that is on offer. You certainly won't be disappointed.... Read More

Gary

20:54 PM, 24th January 2014, About 7 years ago

Housing Disrepair Pre-Action Protocol - need to reply in 20 days!!

Reply to the comment left by "All BankersAreBarstewards Smith" at "24/01/2014 - 20:06":

Hi ABABS
I've been on the RLA website and will have no problem joining up. You appear to strongly recommend them, in preference to the NLA or join both?

Would it be best once I become a member to send an email outlining the issues or speak over the phone? What would you consider to be the best way forward for me?

Thanks for your input here and past comment. Very much appreciated.
Regards
Gary... Read More

Gary

16:29 PM, 24th January 2014, About 7 years ago

Housing Disrepair Pre-Action Protocol - need to reply in 20 days!!

Reply to the comment left by "All BankersAreBarstewards Smith" at "24/01/2014 - 15:19":

Hi ABABS
Your correct. This situation is vey, very complex as far as I'm concerned. I've tried to sort out one issue at a time and am very grateful to the tremendous response, comment and advice from members on this site including yourself. Thank you all.

Your suggestion of joining the RLA is one that I have never considered but will now. I'll take a look at their website whilst in the process. I'd be interested to read if other contributors have joined the RLA and have the same positive comments to make.

ABABS, thank you once again for trying to assist.
Regards... Read More

Gary

16:19 PM, 24th January 2014, About 7 years ago

Housing Disrepair Pre-Action Protocol - need to reply in 20 days!!

Reply to the comment left by "Yvette Newbury " at "24/01/2014 - 15:00":

Hi Yvette
Yes, the situation I've found myself in is very complex, hence, my attempt to compartmentalise and deal with one issue at a time like "repairs". However, you were quite intuitive to question the reasons for my tenants for vacating. I felt I had to share the bigger picture with you.

My TA states that if the property becomes inhabitable there rent should be refunded. There does not appear to be any obligation to re-house. The tenants first reported this issue in early July when I was on holiday abroad. I have a friend who manages my property whilst I'm abroad. He visited the property and arranged various contractors to find the source of the flood to no avail. The tenant initially didn't know where the source of the water was coming from. They reported water coming down the walls! This wasn't the case. The water quickly disappeared. Further flooding of rainwater occurred when there was a deluge of rain, especially early August. At was at this time, the Freeholder's maintenance and drainage contractors became involved but could not find the source.

On the 24 August, after very heavy rain, the rainwater and sewerage channels floooded most of the area downstairs. The tenants were still living in the property, but could not do so after this. They moved out into the bedsits on 26 August and remained until early October. The tenants are demanding I repay rent (£850 pcm) for the months of June, July and August. They claim the initial flood was 29 June 13. I first heard about it on 7 July. I have offered to repay their rent from 26th August when the family actually moved out.

Although, I have buildings insurance for the property, I do not have landlords insurance for such an occassion. The tenants did not insure their property either.

I believe the tenants should be paying me rent for the time they lived in both bedsits and the time after when they stored their furniture, washed some clothes etc. What is your view?

As I believe the Freeholder has been negligent in this case by failing to protect and prevent rainwater gullys to be blocked, I have made a claim on their Public Liability insurance. If successful, I intend claiming for all my losses. The flooding of my property was no fault of the tenants or myself, but of ther Freeholder. What is your view?

I did not put anything in writing regarding the temporary accommodation and length of stay.

I'm not sure of their solicitors motives either. I issued them with the correct Section 21 notice.

Thanks for your comment here Yvette.... Read More

Gary

14:55 PM, 24th January 2014, About 7 years ago

Housing Disrepair Pre-Action Protocol - need to reply in 20 days!!

Reply to the comment left by "All BankersAreBarstewards Smith" at "24/01/2014 - 13:40":

Hi ABABS
Can you read my reply to Yvette please?

My original enquiry put forward here re:repairs was an attempt to clarify my position before sharing other information that has probably caused my tenant to initiate the letter from her solicitor. It's all been been pretty complicated. I hope you understand why I'ver tried to deal with "repairs" first.
Regards
Gary... Read More