Penniless Landlord

Registered with
Wednesday 25th November 2015

Latest Comments

Total Number of Property118 Comments: 6

Penniless Landlord

18:30 PM, 26th May 2016, About 6 years ago

Tax statement from letting agents?

My wife had exactly the same thing from her agent. She challenged it and they refunded her the money.

If my memory serves me correctly they claimed it was a new feature of their service due to the requests of their clients. My wife pointed out that she had not requested it and that since we had all the monthly statements and kept accounts up to date monthly she did not need this. They have flagged it up on their system and refunded the amount.

Sounds like you may be using the same agents, so just be polite and query it.

Nick.... Read More

Penniless Landlord

16:29 PM, 6th May 2016, About 6 years ago

Do I have to disclose my Contractor Invoices?

Things like gas certs would have the contractors details on anyway, so worrying about them going direct due to sharing the invoices is irrelevant. If your passing discounts on to the landlords, it would be in your interests to push the fact to the landlord that by arranging the work for them they are getting a good deal; assuming your contractors are competitive in the first place.

My wife's agent wanted to charge us £80 per property for the gas safety check, but we deal directly with a reliable engineer who only charges £50 (that is his standard rate). There are some engineers locally that charge as little as £35 per property.

Most of the comments were suggesting that by not doing so, a client may have reasonable cause to be suspicious whether justified or not. Consider how it looks from the landlords position.... Read More

Penniless Landlord

9:39 AM, 5th May 2016, About 6 years ago

Do I have to disclose my Contractor Invoices?

Depending on the nature of the work, I'd expect the landlord to get a copy of the invoice from the contractor possibly for warranty/guarantee protection if nothing else.

For things like gas safety checks, the certificates will have the contractors details anyway.

My wife uses an agent to manage her properties, but insists that she (or rather me) organises works to be done so we can use recommended and preferred people at a known cost rather than an inflated cost the agent charges. For example our gas safe checks are done at £50 per property by a qualified engineer, whereas the agent wanted to charge £80 per property.... Read More

Penniless Landlord

10:35 AM, 4th May 2016, About 6 years ago

Agent or Solicitor negligence missing stamp duty deadline?

In my experience property transactions are rarely completed in 8 weeks or less.

On two occasions we have bought property with no chain at either end and one took some 14 weeks to complete and the other 12.

It doesn't matter how good your solicitor is, some things take time and a bad (or busy) solicitor on the other end will always slow things down. In addition there is paperwork to be completed by the seller which again can slow things down if they are not organised.

What I would have done is made the offer conditional on the seller that if a certain date was not met, you would pay X amount less (50% of additional stamp duty for instance). Of course they may not have taken up your offer then.... Read More

Penniless Landlord

20:05 PM, 30th March 2016, About 6 years ago

Joint owners but with different entitlements to rental income

Probably comes under joint ownership with no partnership.

Jointly owned property - no partnership

Where there is no partnership, the share of any profit or loss arising from jointly owned property will normally be the same as the share owned in the property being let. But joint owners can agree a different division of profits and losses and so occasionally the share of the profits or losses will be different from the share in the property... Read More