Tony Atkins

Registered with Property118.com
Wednesday 10th July 2013


Latest Comments

Total Number of Property118 Comments: 120

Tony Atkins

2 years ago
Do I purchase upstairs flat to take control of my building?

If you have the money to buy, it sounds like a no-brainer to me: it's not the omly solution, but you'll have control and the freedom to upgrade the flats and fix the problems as you wish, then decide if you want to continue letting or sell the improved flats. Either way you should make money courtesy of these third parties who are evading their responsibilities.

Lease extensions and freehold purchases have pretty predictable prices; ask a few surveyors with experience in such matters... Read More

Tony Atkins

2 years ago
I Am A Property Developer - Ask Me Anything!

Hello Peter,

I can't really comment without a floorplan, some photos, and some idea of which way the floor joists run. Assuming you are just remodelling the internal space and not changing the curtilage of the building, there shouldn't be any need to get Planning involved. However, what is going to be done with the space created downstairs by the removal of the staircase? It's unclear whom that will belong to, or how this project will affect your neighbour downstairs.

You really need to get a builder in to look at the practicalities and how you would access and use the space. You also need to ask about issues like Party Wall Agreements with your neighbours downstairs, if the removal of the staircase affects them, and Building Regulations as regards ensuring the new floor area is safely supported and insulated. There's likely to be structural work involved in creating a new floor, simply to hold it up: I doubt new joists can simply be added to the existing ones and cantilivered over the void that will be created by removing the staircase.

Regards

Tony... Read More

Tony Atkins

3 years ago
Privately purchasing residential freeholds currently within my own limited company

This is a specialist area, so I would consult a solicitor who has expertise in freeholds. I suspect you will have to offer the leaseholders an opportunity to buy the freeholds, as you are proposing a change of ownership from the company to you personally (it's not entirely clear but I think you are saying that the freeholders are held in the name of the company).

But the leaseholders already have the right to buy out the freeholder anyway, don't they, which they haven't taken up, so what's the problem?... Read More

Tony Atkins

3 years ago
How to avoid 6 months waiting to sell a property to a BTL purchaser?

See discussion at http://www.property118.com/i-am-a-property-developer-ask-me-anything/44690/comment-page-19/#comments, which contains a link to an earlier discussion by Mark Alexander.

When you find a buyer, why not rent the house to them until the six months are up, then they will be free to submit a formal application for a mortgage? They should be able to get an Agreement in Principle beforehand, which will confirm to you that they can afford to buy.... Read More

Tony Atkins

3 years ago
Assigning a Joint Fixed Term AST?

I agree with Romain: you need to arrange a Deed of Assignment, in which the new tenant agrees to take over the departing tenant's responsibilities in the existing tenancy agreement. All the other tenants and the landlord must agree and sign too.

The NLA has a standard form for this; the RLA probably does too.

The deposit is a complicating factor. If the deposits are meant to be repaid to the Lead Tenant and she isn't moving out, that should be fine: when I did this, I just took an identical share of the deposit off the new tenant and "repaid" the old tenant his share (duly documented and the Lead Tenant was aware), and the new tenant was reimbursed by the Lead Tenant at the end of the contract. However if the Lead Tenant is the one moving out, I suspect you will have to contact your deposit company and ask what to do. There must be a common sense solution but the system really wasn't designed to deal with the needs of HMOs (which this house appears to be).

As regards the inventory, to save everyone the cost of having a new one done, I asked the new tenant to check the house with reference to the existing inventory and note any changes; these were agreed with the existing tenants and a settlement made, effectively resetting the house to a new starting point with signed amendments.... Read More