Graham Bowcock

Registered with
Wednesday 15th January 2020

Latest Comments

Total Number of Property118 Comments: 115

Graham Bowcock

11:56 AM, 4th December 2021, About A day ago

3 months periodic after 3 months rent in advance?

Reply to the comment left by at 02/12/2021 - 14:43I suspect he means there's a danger of the advance rent being treated as a deposit (which if not protected would be illegal). Some landlords try to circumvent the rules by taking advance "rent" then charging the monthly rent from day one. This is in breach. If a landlord takes three months rent at the start, then the next payment is due at the start of the fourth month.
You can charge rent for any period you agree with the tenant, as long as it is clearly rent. The tenancy agreement should be appropriately worded so as to make it clear what the terms are.... Read More

Graham Bowcock

18:02 PM, 26th November 2021, About A week ago

Rent increase hostage to windows?

It doesn't sound like too big a job. I'd just get it done. Happy tenants are more likely to go along with rent increases. I don't think the tenants are being difficult; you are providing them with a service that needs to be right.... Read More

Graham Bowcock

11:27 AM, 25th November 2021, About A week ago

I maintain it's not an HMO?

It's a HMO. The fact there's only one AST is not relevant.

If sh'e in residence but not a tenant I suggest you get to a property lawyer pdq.... Read More

Graham Bowcock

9:20 AM, 25th November 2021, About A week ago

Client Money Protection (Declined) as a letting agent - help?

Hi Karen

We are with Barclays. No issues over general clients accounts, although I have banked with them for many decades (although also bank with Lloyds too!). Barclays have provided bonded accounts as required by our regulators.

Individual client accounts is a nonsense for a lettings business.

Graham... Read More

Graham Bowcock

11:57 AM, 20th November 2021, About 2 weeks ago

BRRR - Buy, Refurbish, Refinance, Rent problem?

If you paid for an RICS surveyor to provide GDV , have you gone back to them? There are several steps you need to take.

Firstly, check their TOB - what did they agree to do?

Then, in the report check their assumptions.

GDVs are notoriously difficult as they rely on a number of assumptions. The surveyor should have clearly set out the assumptions that they relied on in making their valuation. This is a requirement of the RICS Red Book.

I'd be surprised if the GDV actually included future income; that sounds odd.

You haven't said if you were advised on the original purchase. Were you? If not, is there a chance that you have overpaid?

In terms of the latest valuation, does it actually stack up (forgetting that it's lower than you need)? Has the valuer got evidence for their conclusion? Is there a decent methodology as to how they calculated their figures.

I think there's a few steps to get through before you consider legal advice, starting with going back to the valuers.... Read More