Ian Narbeth

Registered with Property118.com
Monday 8th July 2013

Location
London

Trading Status
Joint

Providing essential rental accommodation since
1989

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 900

Ian Narbeth

11:31 AM, 8th January 2020
About 2 weeks ago

R2R challenges?

R2R has many pitfalls, as mentioned by Neil and Robert. The R2R company will want to know that the landlord has no mortgage or that the mortgagee has consented to the lease. You have rightly identified numerous issues such as insurance and who is to be the licensed person of the HMO.
Like you, I get letters every week telling me how much of a problem my HMOs are and offering to "guarantee" me a stress-free life by handing over management to them. A few minutes checking at Companies House usually discloses that the person I will be contracting with is a shell company with no assets and no trading history. I would not touch such a company with a bargepole. You want to see (a) that the individual(s) you are dealing with have several years' experience, are licensed property managers (ideally in your area) already and that they personally are on the lease or guarantee the tenant's obligations fully. You need indemnities in case they screw up and the Council come after you.
Watch out also for hidden costs. The R2Rers will not want to spend too much of their own money on repairs and maintenance. You don't want to allow them to just pay for stuff (e.g. a new washing machine) and deduct the cost from the rent they pass on to you. Even if you can control that aspect you may find that, especially towards the end of the initial period, repair and maintenance is not done thoroughly because unless you renew the tenancy it is just dead money for them.
There are other issues to consider such as ensuring that the R2Rer has protected deposits properly and served Prescribed Information forms correctly, that the tenants have been given copies of the How to Rent booklet, that gas safety certificates were obtained and served on tenants before they took occupation, etc., etc. Do you trust a shell company with no assets to perform and what redress will you have if they don't?

I have just seen David's post and endorse what he says with one qualification. R2R can be very profitable for the R2Rer if they know what they are doing. I know people who do so successfully but they have many years' experience and have their own HMOs as well.... Read More

Ian Narbeth

12:47 PM, 6th January 2020
About 3 weeks ago

New Year brings "Interesting" problems and Misguided Guidance

Reply to the comment left by Graham Landlord at 06/01/2020 - 10:02
I agree Graham. At the moment even before it is abolished s21 is being neutered by a host of pettifogging requirements. I have written about them here.
I have little confidence that the court process will be speeded up before s21 is abolished. (Note to Robert Jenrick: speeded up means getting it down from an average of 22 weeks to get to court to something like 6 to 8 weeks, not down to 21 weeks and also means speeding up enforcement.)
Like you I fear rent controls though the Tories have said they won't do that. Expect more attacks on "rogue" landlords when the predicted shortage of houses to rents materialises.... Read More

Ian Narbeth

17:20 PM, 2nd January 2020
About 3 weeks ago

Tax deducible costs following renting to pay for care home?

Dear Steve
Sorry to hear of your Nan's passing.
Your mum should ask an accountant. The money paid by your mother may be treated as a loan to your Nan and then be deductible as expenses in your Nan's tax calculation. The loan may then be repayable as a debt out of your Nan's estate. However, you must get professional advice as it is easy to get this wrong and lose out.... Read More

Ian Narbeth

11:33 AM, 2nd January 2020
About 3 weeks ago

Can this be construed as damage to the carpet?

Andrew
As landlord you have left at the property a washing machine which is defective. Unless it has been acquired and is now owned by the new tenants, they are not responsible for it. You may be in breach for not PAT-testing it. Your disclaimer does not pass liability to the tenant to maintain the machine. Even if you are not responsible for it, you have choices. Do nothing and the problem will get worse. Remove the washing machine altogether. Not straightforward and you will annoy the tenants. Or fix or replace it at your cost to keep the tenants happy and to prevent damage worsening.... Read More

Ian Narbeth

16:49 PM, 1st January 2020
About 3 weeks ago

New Tenant Fees laws = new problems for landlords?

Reply to the comment left by Robert Mellors at 01/01/2020 - 14:26
That's why I put square brackets round it. Make it £20 or £25 difference if you prefer.... Read More