MarkT

Registered with Property118.com
Monday 24th February 2020


Latest Comments

Total Number of Property118 Comments: 6

MarkT

11:14 AM, 7th September 2021, About 2 months ago

How to put my rental property on the market?

I think you need to talk with you tenant and get their view on this as if they are not cooperative, they may not even leave
You will need to start by serving a section 21 terminating the tenancy - however whilst this gives them a termination date, this does not actually mean they have to leave. I currently have 3 properties I am looking to sell and all have had S21 notices given and all are still occupied by the tenants who state they have no where to go, In one case the local council has advised they stay put until I get an eviction order else they will consider they have made themselves intentionally homeless and will not help them.
I have now started the eviction process on all 3 properties but knowing the current state of play and the backlog, I am fully expecting this to take many many months

You can certainly put the property on the market but unless your tenant is prepared to cooperate with you and is very clear they will leave, you may well be moving ahead a bit quick to market it just yet.

Property sales and offers are pretty good at present so It may be wise to get the property empty or at least have a confirmed moving out date from your tenant else you may end up finding your tenant wont leave and any perspective buyer is left waiting around for months.

Will add I have had tenants leave on time or even early when served a S21 but suggest you plan for the worse and hope for the best... Read More

MarkT

12:10 PM, 3rd September 2021, About 2 months ago

Section 24 Tax Is Now Hitting Tenants Hard

This is exactly what i expected to happen and have sold 18 of my properties over the last 5 years and have served S21 on the remaining so will sell these over the next 2 or so years . My leaving the landlord market is a direct response to S24 and the tax implication.... Read More

MarkT

10:30 AM, 12th August 2021, About 2 months ago

Too soon for a paint request?

My own experience is that I have had tenants paint walls bright red, spill paint on carpets and then do an awful job redecorating to put it right.

One of my props where I was asked if they could paint 1 wall in the lounge, they decorated every room and it was a complete mess – and when they left the deposit no where near covered putting it right

If they moved in to a property that’s just been professionally decorated – my answer is always no.... Read More

MarkT

12:04 PM, 22nd June 2021, About 4 months ago

Tenant claims advised to stay put?

This is common practice with councils (and housing associates / advice centre ) - I have had this happen a number of times as the council advises the tenants to stay put until CCJ issued and the bailiff are then instructed - last time I had this i even contacted my local MP and head of the council - all to no effect

Then once the bailiffs have a date , then the council has stepped in and rehoused the tenant - but not until.

So if the council are advising this or even any of the housing associates / advice centre - this really is becoming standard practice so you do have to just keep going over the coming months to get all the court docs in place - your response has to be more on taking the correct legal action rather then getting into long conversation with the tenant.

Will also add , each time this has happened to me - the fees for courts , CCJ, bailiffs are adding up and the council has actually paid this to me on behalf of the tenant . Ultimately it adds months and months to the eviction process and the councils are well aware of this.

And no i have never successfully recovered my rent arrears and have always had to write them off. I have had court orders/CCJs for tenants to pay this back but then these get set at £5 per month and payments often stop coming after a few months

Its never an easy situation but you have no choice but to follow the legal process and hope it does not drag on too long... Read More

MarkT

15:16 PM, 3rd June 2020, About A year ago

Clutching at CGT straws?

I have a similar question as I am currently in the process of selling a number of buy to let properties. The first just completed in May and will generate enough to mean that even with my allowance that CGT is due now the new 30 day rule applies . The second is due to complete end of June and will create a loss - Add both together and no CGT will be due for the year . So am I likely to be in a position where I have to report and pay CGT within 30 days on the first prop but not be able to claim this back until I do my tax return a year later - even thought I make a loss on the second sold a month later in the same tax year

Or can I just not report the first as I know the losses of the second will wipe out any CGT due... Read More