Glenn Ackroyd

Registered with Property118.com
Thursday 4th July 2013

Insures properties through a broker recommended by Property118
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Latest Comments

Total Number of Property118 Comments: 51

Glenn Ackroyd

17:16 PM, 21st March 2020
About 2 weeks ago

Student wants to abandon tenancy agreement unilaterally?

Reply to the comment left by Grumpy Doug at 21/03/2020 - 14:36
Perversely, I think Uni's and halls will be paid - because even though if challenged, tuition fees and accommodation will be deemed frustrated, often Uni's T & C's provide that if you have outstanding fees, they won't allow you to graduate. I'm sure that will be challenged.

But for private student accommodation, I think that the courts will find for the students.... Read More

Glenn Ackroyd

14:19 PM, 21st March 2020
About 2 weeks ago

Student wants to abandon tenancy agreement unilaterally?

I think you'll find courts apply the law of frustration to remove the obligation of student tenants to pay where their Universities have closed due to the Coronavirus;

http://www.legislation.gov.uk/ukpga/Geo6/6-7/40/section/1
https://www.lawteacher.net/modules/contract-law/discharge-of-obligations/frustration/lecture.php

Ultimately, I foresee student further rent being non-recoverable if pursued by the courts due to 'non-occurrence of the event' as per the coronation case law - eg, it's implied in a student let that people staying there are going to the university. If the university is longer open to students, through no fault of either party, the contract is frustrated:

The operation of frustration in such circumstances is best understood with reference to the most famous cases on frustration, known as the ‘coronation case’.

In Krell v Henry, the coronation was the foundation of both parties entering into the contract, they had both made the assumption that the coronation event would go ahead. The contract was deemed to be frustrated because the purpose of the contract did not happen.... Read More

Glenn Ackroyd

16:33 PM, 14th March 2020
About 3 weeks ago

County Durham to be hit by largest Selective Licensing proposal yet!

When my rental properties in Durham becoming vacant, they will be sold.

I'm going to put my first one on the market next week.... Read More

Glenn Ackroyd

16:11 PM, 14th March 2020
About 3 weeks ago

Open A Business Bank Account In Minutes

Revolut has a business account as well. It's useful because you can add team members (employers), give them cards with limits/restrictions, but the main benefit is time saved on bookkeeping.

You can take a photo of a receipt and give it a description and allocate it to an account code. It integrates with Xero - so the transaction is auto entered with the receipt scanned in.... Read More

Glenn Ackroyd

10:02 AM, 13th October 2018
About A year ago

Potential Budget CGT relief and profit split for selling to long term tenants?

If anyone has a plan to sell in the near term and has a portfolio, I'd recommend a consultation with Mark Alexander. I did and was sceptical TBH.

But based on his advise, I've transferred into a Ltd co, with no SDLT to pay on transfer, no CGT on transfer, and have now agreed on a sale. I've got no CGT to pay at all.... Read More