Nathan

Registered with Property118.com
Thursday 23rd April 2020

Location
Brighton, East Sussex and North West

Trading Status
Joint

Providing essential rental accommodation since
2004

Number of rental properties owned
6 - 10

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 5

Nathan

19:00 PM, 2nd September 2020
About 2 months ago

Title split for house redevelopment?

@Ian Narbeth, 16:03 PM, 1st September 2020
Hi Ian,
My question is slightly off the main topic so hope no one minds me piggy backing.
It was to do with your comment in answer to the OP where you said -
"You also need to avoid granting leases for nil or a small premium as that creates transactions at an undervalue which in turn creates problems for lenders and purchasers." -

Question- I am in process of applying for enfranchisement for our 2 bed flat where there are two flats in the freehold building. We hold one of the leases and the other flat owner holds the other. We were intending to set the new leases out at 999 years and the ground rent set at zero with no premium. By doing this are we in any way devaluing our property values as I had thought we were doing the opposite by obtaining enfranchisement?
In this situation the freehold will be a share and will be passed on with sale of each flat when sold and not able to split from said properties, thereby making the freehold non monetary value but instead it's value will come from the control the leaseholders of each flat maintains as owners of said flats.
Any extra insightful information will be much appreciated.
Regards, Nathan... Read More

Nathan

18:51 PM, 24th August 2020
About 2 months ago

Very weird legal letter about council tax arrears?

@the Readers Questions -
Hi Nav,
Most definitely you'll be liable for council tax from the end of the previous contract which I think you alluded to it being 28 June (unless of course you can prove otherwise by showing them a signed contract that has a later date of exiry!) and when the New contract officially begins at 18 July.
In future I would also strongly suggest you do not let a tenant take possession of your property until Christmas contract start date for at least three reasons -
1.) What if something bad occurs in that time up untik start of contract?
2.) No insurance cover
3.) You're liable for c.tax and utilities

What I expect you did was come to an arrangement with new tenant due to the mess caused by previous tenant. It would have been better to start contract on 13 July but offer them a discount on first month's rent then you would've been covered against the three things above..
Hope that helps.

To the person who used capitals for his whole rant style post - there was no need and feels like you're shouting at everyone. We all understand the anamolies and frustrations of renting.
All that's occurring in the PRS sector now is to rebalance between landlord and tenant, but it's just gone too far towards the tenant in this present time, however with enough protest and people pointing out the errors it will resume to middle ground eventually where it (legislation) should result in being fair and just for both parties. Government interference is sometimes needed but they're just not very good at implementing things effecively without creating a vast swathe of unintended consequences and are very slow in the process. Keep the faith and adjust. All the best 👍... Read More

Nathan

20:45 PM, 4th August 2020
About 3 months ago

Tenant's rights after second joint tenant moved out?

@Gunga Din -
What are the main differences and advantages between a Contractual Periodic tenancy and a Statutory Periodic tenancy please?

As I understand the SP, it's a rollover month by month contract with tenant or LL having to provide a month's notice to vacate; thus meaning LL becomes liable for C.Tax after that months notice- correct?
How does the CP differ from that if you've not actually stipulated the new dates on a new contract?

Some extra info -
I always attempt to issue a new AST after the initial one expires because of the C.Tax liability issue, it also provides stability and assurance to the tenant and peace of mind to the LL. You can also update with any changes, I e. rent increase, new rules, legislation, etc.
However and rather unfortunately we had a tenant abscond from a property recently after having issued them a new fixed term AST. The Council (Durham!!!) chased me for the council tax and after many months of protest emails from me I had to go to the valuation tribunal for the appeal. I lost based solely on the fact that I could not locate and provide them with a copy of the signed agreement with the tenant's signature on, even though the rent payment received from the tenant had changed to reflect the new rent and the new AST.
I was surprised and annoyed by this decision.
Regards,... Read More

Nathan

21:16 PM, 16th June 2020
About 4 months ago

Constant price hikes by property management company?

Hi Terry,
I echo all the above comments. I find the information from LEASE only helpful to a point, they also support freeholders and therefore are not entirely impartial with their advice, which is a shame., Especially as it's a gov tax funded organisation!
The general right of challenge for leaseholders is via the property courts using first tier tribunal, however again this is expensive to raise anything via the first tribunal.
As already stated by other posts here your best way forward is to apply for RTM. First get together with the other leaseholders and see if everyone (all 7 flats) will be in support of this. Second contact a RTM specialist. I have used Shula Rich before, Brighton based but doesn't matter if you're not. You'll easily find her details online. She has been largely responsible for the legislation changes in this field so is well worth her salt. It's very difficult for the freeholder to win against you. In your situation they most certainly will fight you on this. It cost us around £750 to proceed the RTM route, this was only two flats though. You save this amount easily in the first year if not much earlier. Good luck and post back how you get on as it's something more leaseholders need to be aware of.
Regards. N... Read More

Nathan

23:07 PM, 2nd June 2020
About 5 months ago

Increase rent - Increase Bond?

Re OP- When a tenant receives a bond as a replacement for the deposit, in my experience these only last for 6 months and do not carry forward and are not renewed. The purpose of offering these to the tenant is purely to facilitate the tenant into accomodation, the council or other provider of the bond is not interested in the longer term and the landlord's liabilities and protections. As usual short sightedness but at least it helps at the start. Trouble is they don't explain this to either the tenant or the landlord.
When I found this out (about 5mnths into his initial 6mnth AST) I explained to my tenant and we came to a payment plan arrangement of an additional £50/mnth for 10 months and then we deposited that at the DPS. Our tenant now has a nice savings and deposit and we have proper protection. I hope this helps. Regards, Nathan... Read More