Darren Peters

Registered with Property118.com
Saturday 2nd January 2016


Latest Comments

Total Number of Property118 Comments: 204

Darren Peters

9:27 AM, 6th December 2021, About A day ago

If I put my houses in my tenants name would I be exempt from onerous retrospective legislation?

Just thinking Mick, and maybe I’ve missed something here but why don’t you start putting the properties in auction tenanted? If you’re offering the council a discount perhaps you can bear the discount you’ll be giving selling in auction. Similarly that company that appears on here buying properties.

Is it a financial consideration not to do this or do you feel you would be letting the tenants down? If the latter you can always keep in touch and advocate for them where it merits it.... Read More

Darren Peters

14:18 PM, 2nd December 2021, About 5 days ago

If I put my houses in my tenants name would I be exempt from onerous retrospective legislation?

Reply to the comment left by Mick Roberts at 02/12/2021 - 12:44
Mick, Your admin would theoretically be reduced to checking the payment is in once per month. All the blocked toilets, broken windows, police called to the property, EPC, gas and electrical certs, licences and interactions with the council would go away.

There's probably even some software that would flag up non-payments and automatically start the legal process without troubling your yacht in the Bahamas 😉

I think you've spent so long dealing with the, 'my dog (that I shouldn't have) ate the carpet when am I getting a new one' type problems your perception is of problems is skewed:)... Read More

Darren Peters

12:07 PM, 2nd December 2021, About 5 days ago

If I put my houses in my tenants name would I be exempt from onerous retrospective legislation?

Another difficulty to overcome would be if you want a loan against the property any bad credit history the tenant as part-owner has could making borrowing difficult or impossible for you.
I wonder if there might be mileage in you becoming the bank, selling the property to the tenant and collecting mortgage payments instead of interest.
Another angle to this might be a Sharia mortgage - have a look here in case one of the types fits what you're trying to achieve.
https://www.unbiased.co.uk/life/homes-property/what-is-an-islamic-mortgage-and-how-do-they-work
Ultimately you lose future capital appreciation but also the day to day responsibility for the property.

Edited to add, you may need to become licenced or overcome impossible hurdles to become a lender.... Read More

Darren Peters

12:37 PM, 17th November 2021, About 3 weeks ago

Tenant will not now agree to new tenancy with neighbour purchaser?

Firstly Bernard what do you want to do? Ie do you still want to sell the house?

Secondly did you issue a Section 21 to your tenant and when?

If it were me, and I wanted to sell, I would not want to get stuck in the middle of the neighbour and tenant because I (and you!) don't need to.

Therefore I would do the usual thing, get a few estate agents around, get an idea of the market and put the property up for sale on the open market. I would also give the tenant a S21 if you haven't already done so.

The neighbour can put in an offer just like anyone else and if he ends up being the buyer he can rent it to whoever he likes but it's not your concern. Alternatively someone else might put in a better offer than your neighbour.

Either way, aim for vacant possession. Your tenant can show the council the S21 and that your house is being actively marketed.

I wouldn't let your tenant call the shots, nor the neighbour.... Read More

Darren Peters

18:43 PM, 11th November 2021, About 4 weeks ago

The Commercial Rent (Coronavirus) Bill and new code of practice

If a force majeure such as Covid is to be allowed to unravel a contract between a landlord and tenant then it must, in the interests of fairness, unravel in an equal manner, the contract between landlord and lender.

It won't though as banks are never punished, only rewarded with new opportunities such as the chance to 'solve' the landlord's cashflow problem with another loan.... Read More