Claudio Valentini

Registered with
Monday 15th July 2013

Latest Comments

Total Number of Property118 Comments: 42

Claudio Valentini

11:14 AM, 9th August 2019, About 2 years ago

Johnson considers Stamp Duty switch from buyer to seller

Great! They stiff you on the way in and now they propose stiffing you on the way out...
They’re going to do the same with long term health care funding if you ask me.... Read More

Claudio Valentini

11:08 AM, 9th August 2019, About 2 years ago

Should she stay or go?

I would formalise any new arrangements with either a new tenancy agreement or a codicil to the existing agreement and request your tenant provides a guarantor. This can all be done amicably in the interest of a win-win. I had a similar situation with a father/daughter, he moved out with his new wife but guaranteed the daughter who was on long term sickness benefits. All worked out well in the end...... Read More

Claudio Valentini

12:23 PM, 20th November 2018, About 3 years ago

Advice about a student property purchase for our daughter?

Personal opinion, I wouldn’t do it – unless of course it’s “Throw away money” but we don’t all have that to hand though…
I considered doing this when my Daughter went to University and the deal fell through, which in hindsight was a good outcome.
There are a number of quantitative and qualitative reasons why I wouldn’t do it:
• 3 years goes by very quickly and after Uni life your daughter may not stay in town. You’re then left with a house in Uni town that you’ve got to decide what to do with
• Student lets can be high maintenance and time costly so if Uni town is in Durham and you live in London etc They usually also need a full refurb at the end of the year
• The return on investment on a purchase in Uni town may not be as good as if you invested elsewhere
• If your daughter is known to be the owner of the property (or child of the owner) she may well be looked upon as entitled/privileged – they don’t need that grief, nor do they need the headache that goes with having to deal with day to day stuff, Lodger's agreements etc plus having to deal with things that might go wrong which they will, once their housemates know they have some skin in the game
If you have money to invest in property, personally, I would put it somewhere that makes the best business sense according to your strategy/criteria and then take the income from that to pay for your daughter’s accommodation in Uni town. That way, she can be like everybody else and just get on with her studies (and spending your money on having a great time away from home) and when the three years is up you still have an investment that makes sense
3 years does go by very quickly...... Read More

Claudio Valentini

13:49 PM, 15th March 2018, About 4 years ago

Is government thinking of disallowing operating costs, and for companies as well?

Nothing would surprise me...
After the introduction of S24 I waited before looking to incorporate. I just felt that this cynical lot would wait for landlords to jump from sole trader to limited company and then tax them again...
I haven’t bought anything for two years now as a result.
We have to remember that as a constituency, rightly or wrongly, landlords are not a loved bunch and in general not many votes will be lost if we are taxed more aggressively.
It would be relatively easy for the treasury to make an amendment to commercial/Limited Company GAAP to exclude a property rental businesses.
So now, if I have £40/£50K to invest, whereas I would previously considered property as a no brainier today I’d have to look at my Pension plans instead, which is precisely what donors to the Tory party like L&G would want, having lost a stack of cash to BTL and in order to restore the investment status quo to what it was like in the days before mainstream BTL really took off.
Watch and wait would be my advice.
Get your LTV ratios down, fix to attractive mortgage rates and then try and ride it out...
If the Tories stay or Labour get in, either way I sense they’re coming for us...... Read More

Claudio Valentini

11:38 AM, 25th April 2017, About 4 years ago

Boiler replacement costs - reasonable or not?

Glad for the happy ending...but just a thought for the future
On the choice of Boiler - Personally I would avoid Ideal Logic. I have one in my Resi which is a new build and another in a new build BTL.Both have needed a fair amount of attention for intermittent faults in under five years - in the case of the BTL, in less than two!
As a consequence I'm now good friends with my local central heating engineer! He tells me their business was close to going under a few years back and these new range are a 'make and break' attempt to regain some market traction. It's no surprise that they seem to be a choice for mass volume house builders (i.e. cheap) and the items that fail seem to be low price point internal components. Building to a reasonable price point might seem to make sense from a consumers perspective but as a Landlord I want my installations to be bullet proof and not give me any hassle for at least 7-10 years.
Interestingly enough, in my other BTLs where I've installed or inherited higher quality installations,they seem to run trouble free and the annual service seems enough to keep the hassle factor at bay...
PS Pricing the work above in the Colchester area seems a tad high - it's about a Grand for the bits so how many days work and how many people to charge another £1500? He might get away with that price on my side of Essex but not over your way. I think someone suggested getting British Gas to quote - half that price and you're probably in the right sort of ball park...... Read More