Gary Nock

Registered with Property118.com
Sunday 9th June 2013


Latest Comments

Total Number of Property118 Comments: 817

Gary Nock

2 months ago
Return of bond by sacked agent?

This is strange. What should have happened is you should have opened an account in your own name with the DPS and then asked the existing agent to transfer the deposits over. Very easy process but the agent "holding" the deposit is in control of it.

What they have done is "thrown their teddy out of the pram" and without telling you they have returned the deposits. This may have placed you at a financial disadvantage particularly if there are dilapidations at the end of the tenancy. And if you have rent insurance guarantee then there is normally a clause that you should have taken or be holding a deposit of at least one month. I would be checking their DPS paperwork like a hawk to see if they had done it right. As David says above a minor error can render prescribed information invalid. I would place them on notice and advise them in writing that they have released the deposits without your consent, and that any loss suffered as a result will result in a claim against their professional indemnity insurance ( if they have any!) and a complaint against their professional body.

Gary Nock

2 months ago
Tenants trying to get away with washing machine!

Hi Joan,

If the photos are time and date stamped, and the written inventory shows the make and model of the machines, then I think you have sufficient evidence to go for a deduction from their deposit - if you have taken one. The icing on the cake is of course the serial number but I appreciate that not many people take that. They are also in breach of their tenancy agreement in relation to the unauthorised removal of the washing machine.

I must say it all sounds a bit contrived on the part of the tenants - as if they have done this before. Were they referenced and did they give a previous landlord reference? if you have details ring them and ask them about the appliances.

Gary Nock

2 months ago
Tenants trying to get away with washing machine!

Hi Joan,

Did you do a written and photographic inventory of the property?

Gary Nock

3 months ago
Setting up a company to manage my own properties - is it worth it ?

Hi Arwel,

As long as the company is limited it is a separate entity to the people that own the properties. Managing them at 15% of the rent would be seen as just at the margins of acceptability by HMRC.

But then you have the added costs of a limited company. You need your accountant to do a side by side comparison of tax liability under your existing system and then a projection as a ltd company managing them. You may find that after paying the additional accounting costs etc that there's not a lot left for dividends.

Gary Nock

3 months ago
Letting Agent changes terms and conditions?

Reply to the comment left by "Mark Lynham" at "28/04/2017 - 10:57":

I have no doubt it is Mark. A little premature though. And looks like exploitation to me. £264 to renew a tenancy is excessive.