Mike Sosner

Registered with Property118.com
Wednesday 7th August 2013

Latest Comments

Total Number of Property118 Comments: 14

Mike Sosner

0:25 AM, 31st May 2018, About 4 years ago

Tenant won't claim his deposit and wants to go to court!

It perhaps does unless he gave you proof that he does not intend to return. This may be the thing you should worry about. But what precisely does it say on the claim form, that he is claiming for?... Read More

Mike Sosner

14:05 PM, 30th October 2016, About 5 years ago

Freeholders refuse to transfer title trying to cause distressed sale?

There's a leasehold expert called Bernie Wales (www.berniewales.co.uk/leasehold-advice/) who might be able to give you some shorthand advice. His byword is RTBL (! Read the Bloody Lease!) ...before asking him for advice. As I understand it there are provisions for works and what might constitute "major works" (i.e. outside of the service charges) / notice for works/ nomination of contractors/ timescale when works are to be carried out etc., and if your co-freeholders are going outside of these provisions their demands may not have any force.

Existing poor lease management arrangements might make the property unattractive to a buyer.

Mike... Read More

Mike Sosner

13:48 PM, 30th October 2016, About 5 years ago

Damage deposit from DSS tenants?

Hi Robert,

With reference to Jonathan’s comment I think you’ll find many Local Authorities are lately predisposed towards facilitating social housing tenants going into private rented accommodation by a number of mechanisms since legislation changed last April to allow LA’s to dispense their of Housing Obligation into the Private Sector.

In my area of South West Wales there are a number of schemes, one being the Discretionary Housing Payment (DHP) Jonathan’s tenant took advantage of. Also Swansea based charity called “The Wallich” operates within the County as a Bond Board, offering the landlord a bond certificate. Over two years they will draw from the tenant a “sub” so that by the end of the period the tenant holds a cash bond, perhaps something like your suggestion (but you, the landlord, doesn’t have to manage it). There is also a Private Rented Sector (PRS) “cash” account for Housing Action to draw from, and on a couple of occasions I have had bond and a month’s rent in advance from the Homelessness Prevention Fund for example, where a family has fallen by good reason into reduced circumstances and maybe been put up with relatives. Always insist on a month’s rent in advance as per to your usual requirements. On one exceptional occasion I had a bond and month’s rent in advance from one local authority (out of which the tenant was moving) and the usual rent-in-arrears LHA payment following on from a second LA (that he moved to) but who didn’t provide the advance payments.

So you see there are schemes in place Robin. Give me a call during the week (on 01792 468200) if you’d like to chat about my experiences...

With good regards, from

Mike... Read More

Mike Sosner

21:32 PM, 3rd October 2016, About 5 years ago

Ground Rent increases - Are they a big risk?

But it will be surveyed as a MARKET ground rent in 25 years' time and not a runaway compound sum...... Read More

Mike Sosner

7:33 AM, 11th November 2014, About 7 years ago

Cashflow benefits of 2 x 2 benefits tenant stratagy

I wrote the comment above last night and posted it not having read Jonathan’s latest comment…

Yes, I agree wholeheartedly Jonathan that a great part of our skill as landlords is about tenant selection, which for me is a good deal of referencing and that can be complimented by an instinct or feeling about people. I look for tenant applicants who are transparent, whatever their circumstances. I too had experiences of letting agencies not managing my properties as well as me and in my case I decided to keep my portfolio to a manageable size so that I can do it. This led me to take business growth in a different direction. And I agree with you Jonathan that one can’t overstate the value and importance of consistent study and training, as one would for any profession.

I personally began my career creating tenancies for exclusively working and professional tenants. Any business changes as the market changes. We’re all in the business of helping people by providing hopefully, good people with decent homes and these days there is a tremendous opportunity to serve the social housing market because councils just can’t cope!

I’m still “hands off” on the 2 x 2 strategy, yet maybe the perfectly matched house share applicants will come along at a time when I’ve got just the right property to offer them, it’s a “tool in the toolkit”, isn’t it!

Thanks for the enlightening comment, people…

Mike Sosner... Read More