Charles Holt

Registered with Property118.com
Thursday 11th December 2014


Latest Comments

Total Number of Property118 Comments: 3

Charles Holt

10:32 AM, 24th August 2020
About 6 months ago

How reliable is referencing in the current climate?

The best way, in my experience, is to ensure you get a guarantor. I had a UC tenant who did a 'midnight flit', and left me very much out of pocket (c. £1500). His father was the guarantor, and as a property owner, I have managed to get the back rent + various costs out of him. And I have just taken on another UC tenant, who has persuaded her grandfather and grandmother to be the guarantors. They own their property, so I can be sure of getting paid the rent + any costs, one way or the other. So, in consequence, I don't expect any trouble from the tenant. And believe you me, I have experienced trouble from tenants in the past............. Read More

Charles Holt

8:34 AM, 5th November 2019
About A year ago

Manifesto from Generation Rent Et al

I completely agree with the two previous commentators to this thread. As a landlord in Lincolnshire, I have never been able to increase rents, even if I wanted to. I started renting out in 2008, and three of our six properties (very small 2-bed houses, new builds) actually rent for less now than they did then. The other three (2 flats and a bungalow) are achieving the same rent. It is a market, driven by DEMAND, and SUPPLY that causes rents to rise - or fall. Clearly supply is the issue in many parts of the UK, and that is hardly landlords' fault. The PRS has increased supply!
So, what is to be done? Clearly a greater supply of social housing would be hugely beneficial to renters. Will a new government deliver? Possibly, but most unlikely. But allowing renters to stay for a lifetime, or to offer them a 'right to buy' is clearly going to cause landlords to sell up en masse, and quickly.
A better idea for all is surely to give renters more security, but not for ever. I hate it when a tenant leaves, as voids always cause me a loss. Lost rents and more costs, time and hassle. My proposal is for EASTs. These are Evergreen Assured Shorthold Tenancies. In effect, they would be rolling twelve month (or possibly a different term) tenancies. So both parties would always have to give this level (12 months) of notice. I would also write in a penalty clause for earlier determination - six month's rent for landlords and three months for tenants. So get rid of ASTs, and bring in EASTs. There - a landlord can't be fairer than that!... Read More

Charles Holt

11:25 AM, 21st July 2016
About 5 years ago

Buying property with lifetime tenancy?

I suggest you take very good legal advice on this. I am currently involved with a case (a farmer) who is trying to sell a property with a sitting tenant with a lifetime lease. She has been there c.40 years, and is over 90 years old. As the lease is over 21 years in length, an issue called "leasehold enfranchisement" apparently comes into play. This gives the tenant, and her heirs for two years after her death, the right to buy the property from whoever owns it (which could be you, if you have bought it), at a tenanted value. Clearly this has severe effects on the property's actual value today! As I say, take good legal advice first.... Read More