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Wednesday 29th July 2015

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Total Number of Property118 Comments: 23

LondonProperty1 L

10:51 AM, 23rd June 2016, About 5 years ago

EU Referendum - Landlords Reactions

Reply to the comment left by "Mandy Thomson" at "23/06/2016 - 09:54":

Mandy, let me simplify the economics for you... In the past (long time ago) countries like Britain thrived because of colonialism. Cheap/slave labour, extraction of foreign resources. No other reason! Britain is not superior to others in any way, nor is the US or anybody else. Portugal has also thrived back in the day from colonialism.

These days the modern colonialism and "slavery" is completed through immigration. Those people come here and work much harder than locals would (please see statistics where immigrants from the EU contribute £1.3 for each £1 they cost, and those from the Eastern Europe contribute £1.64 for each £1 they cost) for lower salaries.

The reason why Germany is letting refugees is in because they have demographical shortage of labour coming up in not so distant future. They know that cheap labour will maintain the engine growth and allow Germans to keep their high pensions (supported by taxes from those hard working immigrants - much like they support Britain right now).

In any case, glad to see this forum as I was of an impression that British landlords belong to that more educated group of people who can distinguish facts from fiction.

If someone would like to respond to this - please only respond with a CLEAR PLAN IN CASE OF VOTE LEAVE. Nothing else. I would love to finally see it!... Read More

LondonProperty1 L

10:40 AM, 23rd June 2016, About 5 years ago

EU Referendum - Landlords Reactions

Reply to the comment left by "Paul Shears" at "23/06/2016 - 06:30":

"Then think about the far greater incompatibility of inferior cultures imposing their values on superior cultures without any hope of assimilation due to the sheer numbers involved and the time scales involved."

Inferior cultures? Superiod cultures? Are you feeling so superior? And why so? Hitler also felt superior versus Jews. Seriously, this campaign has gone far beyond its key merit. People vent all the frustrations that they have (unpaid tenant rents from landlords, queues in NHS from those who are ill, low pay from those ... on low pay, lack of public services from those who use them) on the EU and think that these issues will magically dissapear once they vote to leave!

Voting to leave doesn't even mean the UK will leave! Indeed, it likely won't, but it will put this country 2 years behind much like Greece last year. Giving vote to the general public was such a terrible idea (voting "leave" because an eu immigrant had unpaid rent - sic!).... Read More

LondonProperty1 L

7:41 AM, 9th June 2016, About 6 years ago

Repairs required before ending tenancy agreement?

Hi Dave,

I am not sure whether I understand you correctly, but you seem to be linking the end date of the tenancy to the repairs scheduled?

I don't think this makes any sense. The landlord cannot just state a new rule "before you move out X repairs have to be carried out", which you read "you cannot move out until those repairs are carried out".

It is landlord's choice to select the date for repairs, and it is at YOUR discretion to agree to those repairs during your tenancy (as Neil noted above).

So, to answer what I think is your question - "no, the landlord cannot indefinitely delay the repairs after saying that X repairs have to be completed before you move out". And certainly he cannot just charge you rent after you provided a valid notice for moving out (written, dated, etc - as per your contract).... Read More

LondonProperty1 L

7:32 AM, 9th June 2016, About 6 years ago

Reservation fee for new build apartment?

Not being an expert and just an outside, logical observer I would say that you have a right to receive back £2,000 only if the developer had the right to sell the plot to other buyer after you left the deposit. This way you can prove that the £2,000 did not offer a true reservation and your money should be refunded when you decide to pull out.

In other circumstances (when the deposit gives you absolute right to purchase the plot) the developer would have absolutely no interest in collecting a tiny payment, which they need to return to the potential buyer at their whim any time before providing the full deposit.

So I suggest you read what you are actually buying for that £2,000 - legally for a contract to be binding there has to be consideration exchanged from both sides (money exchanged for a reservation in this case - but only if the reservation is binding in my view).... Read More

LondonProperty1 L

8:02 AM, 1st April 2016, About 6 years ago

Stamp duty deadline missed due to vendor dragging feet

Hi Matt,

I was in a similar position as you (with the vendor dragging the sale by 6 months) and eventually pulling out as prices adjusted higher. This was back in 2013/14 in London.

I am not sure where you are buying, but I do believe the environment is different now and prices do not increase month after month.

Second, if I were you I would suggest just adjusting your return on equity calculation and seeing how much this charge will set you back.

Finally regarding the process - I agree that the estate agent is keen on the commission (especially when there are fewer properties for sale and greater competition). On my last property the agent agreed to lower her fees because I would not move any higher on my offer and the vendor would not sell for less. So she agreed to charge less %, and he then lowered the price and it worked. This is also one of the options you can discuss with the agent (the value of the property was double of yours though so there was a bit more room for manoeuvre).... Read More