Registered with Property118.comMonday 27th July 2015
It is all very well Iain Duncan Smith speaking against S24 and the additional stamp duty levy now but where the bloody hell was he 2 years ago when that buffoon Osborne decided to screw us all over?
I have news for you all.....S24 is already here and one newspaper article by a washed up Conservative politician is not going to change anything. Actions speak louder than words!
I would be more than happy to eat my words but I dont believe this changes anything. It is too little too late....many of us are already suffering under the changes made by Osborne with the prospect of worse to come as S24 heads towards full implementation.
I have already started pulling out of the PRS and I know of many others who are doing the same.
A predictable case of 'shutting the stable door afetr the horse has bolted' I'm afraid.
I think your decision to no longer accept tenants on benefits is correct. You are right to say that not all DSS tenants are bad, it is local authorities that cause the real difficulties, for both landlords and tenants.
I also think you are correct to get out of the PRS - the persecusion of landlords by both local and central government has gone too far already but is likely to get worse.
I am in a similar position to you and am in the process of off-loading my rental properties.
I have invested smaller amounts of money in the fast rising property crowd-funding market and have (so far) found them to be relatively stress free with acceptable risk levels and they give a decent return on my investment. I will be increasing my investments in the near future.
It is definitely worth considering.
Best of luck.
James, it sounds as though you need to employ the services of a good solicitor. Unfortunately it does not always pay to carry out your own conveyancing although it does sound as if a conveyancing solicitor may well have been duped by the lack of transparency from the managing agent in this case.
I may be wrong and am happy to be corrected but my understanding is that the debt belongs to the previous leaseholder as you are only responsible for any outstanding charges that have been incurred from the point of purchasing the lease. The managing agents would have been asked to bring the service charge account up to date (which they failed to do) in order for any debt to be paid by the outgoing leaseholder. Any credit elements (e.g. prepaid building insurance) would have been apportioned.
I would resist making any payment but do not ignore the matter. Get yourself a specialist solicitor.
Melanie, as you did not carry out the alteration I would stay quiet and not let on that you are aware of any alterations. After all, they were not disclosed to you so why should you be expected to know about them?
The wooden flooring issue is a common one. Again, I would stay quiet and see what happens. Is anyone really going to enforce the 'no wooden floors' restriction given that so many ofther leaseholders have them?
Atul, get yourself a good solicitor and add the legal costs to your claim. Most HA's are no better than Local Authorities, you wont get a penny out of them unless you go down the legal route.