Michael Jones

Registered with Property118.com
Monday 20th April 2015


Latest Comments

Total Number of Property118 Comments: 23

Michael Jones

7:53 AM, 12th March 2018
About A year ago

I am having to make 350 people homeless this year!

Hi Mick,
Perhaps small landlords need their own letting agent cooperative ( to create the “ independent “ letting agent , as well as distance themselves from the tenant )... Read More

Michael Jones

10:59 AM, 24th January 2017
About 3 years ago

How far back can I use a capital loss?

I have not come across any time limit regarding offset of capital losses however , if a limited company there may be issue regarding carry forward of losses into a profit making company if the nature of the trading - to make the profit - has changed . Check with your accountant .... Read More

Michael Jones

15:35 PM, 5th December 2016
About 3 years ago

Letting Agents will no longer be able to charge fees to tenants

Reply to the comment left by "Rod Adams" at "28/11/2016 - 10:26":

The total cost to the tenant for renting a property in the market ( i.e. the revenues of letting agent and the landlord ) is likely to be unchanged whether all be raised as agent's letting fee ( past ) or landlord fee / increased rent ( future ). To bring overall cashflow back to yesterday, the letting agent may consider introducing a fixed fee to the landlord in the 1st month ( this replacing the funds previously received from the tenant ). Afterall , the letting agent still has all of their operating costs to finance. At the end of this process the whole may result in unintentional uplift with the tenant bearing the increased burden. The ripple remains to be evaluated , a person did say ... ' don't buck the market ' !... Read More

Michael Jones

17:39 PM, 23rd November 2016
About 3 years ago

Letting Agents will no longer be able to charge fees to tenants

Yes, 50% of the 1st month rent - charged to / paid by the landlord for finding the tenant , on the initial letting only - is the norm in South Wales too ( i.e. £325 on a 2 bed property renting at £650 pcm , plus monthly % commissions thereafter ). There should have been a ceiling price particularly as agent man.hours needed these days to find suitable tenants is so few. Letting agents are responsible for bringing unnecessary attention to this market.... Read More

Michael Jones

13:51 PM, 23rd November 2016
About 3 years ago

Letting Agents will no longer be able to charge fees to tenants

Do tenant references provide any surety ?

My last experience - October 2016 , after successful referencing - was where the tenant's ex-boyfriend had located her and able to take control of the rented property. Police advised the tenant to leave the property.

So what was being paid for through the letting agent fee ?

Traditional tenant referencing does not provide surety.

Good that it has been removed !... Read More