Page 753 – Property118

New regulations due 1st October – Update from readers questions

2nd October 2015

The Department of Communities and Local Government’s (DCLG) new regulations are due to come into force on the 1st of October. They introduce new obligations on landlords to provide specific information to their tenants, and restrictions on the use of the section 21 notice no fault possession procedure if they fail to do so. The […]

CRAR – what needs changing?

1st October 2015

In July, the British Property Federation (BPF) put forward its views on CRAR. CRAR – or Commercial Rent Arrears Recovery to give it its full title – was introduced in April 2014 as part of the enactment of the Tribunals, Courts and Enforcement Act 2007. It replaced distress for rent as the means for commercial […]

Unregistered Estate agent will not pass on my offer?

1st October 2015

I am looking to buy a property from an Estate Agent. They will not pass our offer onto the buyer despite this being the law to do so. They do not appear to be registered with any of the 3 schemes as quoted on GOV.UK (The Property Ombudsman, The Ombudsman Service, Property Redress Scheme). I […]

Three bed homes see fastest rent rises in the UK

1st October 2015

UK rents are increasing at a rate of 4.6% year on year for three bedroom homes, according to a new index. This is higher than the rise experienced by all other UK properties, which averages 3.3%. Areas located within a commutable distance of London are experiencing the highest rental growth for three bedroom properties. In […]

landlord action

New regulations and retaliation eviction – can the councils cope?

1st October 2015

Today (Thursday 1st October), as part of The Deregulation Act 2015, a whole range of changes come into force which affect whether or not a landlord can serve a Section 21 notice on an assured shorthold tenancy (in England) as well as changes to the form itself. However, following lengthy consultation, leading tenant eviction firm, […]

Legionella Risk Assessment – I wasn’t aware!

30th September 2015

How many of us is aware of this new regulation? I have to say I was totally unaware until I received this email from my LA. The safety of my tenants are paramount to me, but I feel dumb that I never read about this on any of the forums Re: LEGAL WATER HYGIENE CONTROL […]

Using a Ltd Co for Buying New Property and managing existing ones

30th September 2015

I have large Portfolio of property in the NE and I am looking at a number of avenues to avoid this tax regime from the summer budget. I have no income other than from property, have a very good cashflow and pay high rate tax now, Yes I could move half of my BTLs to […]

Potential separation and 99% to 1% Declaration of trust

29th September 2015

I have read some of the articles that sound similar to mine but not sure they answer my specific question! In 2010 I sold a business and raised a nice amount of cash. With this I paid off my wife’s mortgage on her house we rented out and over time we purchased some more BTL […]

Shadow Chancellor John McDonnell anti Buy to Let but said very little

29th September 2015

During his first speech as Shadow Chancellor John McDonnell hinted at his views on introducing rent controls and stopping tax breaks for Buy to Let landlords without actually giving much away in detail. The Labour party have estimated that tax breaks to Buy to Let investors are worth £13billion per annum and it is understood […]

Is purchase of freehold fair value?

28th September 2015

I’d really appreciate some help on whether or not I should buy the freehold of my flat which has recently become available. The property is a converted house consisting of an upstairs flat which I own and a downstairs flat which the freeholder currently owns. The lease has 74 years to run, the ground rent […]

Does a cellar count towards a floor making an HMO?

28th September 2015

In a unlicensed HMO I understand that a cellar counts as a story. If however a lock was fitted to the cellar so no access for tenants, would it then be ruled out as a story? Making just the 2 story/5 tenant or less not requiring licence, or is there some law to saying otherwise. […]

Forced into signing a Fixed term contract

28th September 2015

My partner and myself entered a letting agreement were we signed a fixed term 6 month contract via a letting agency. We were advised on signing the contract that at the end of the contract we would have 3 options; 1. to sign a further 6 months 2. to sign for 12 months 3. to […]

Leak from the flat above not repaired and now flat below is suing me?

28th September 2015

I am a private land lord and have 4 tenants living in one of the properties. About 6 months ago, a tenant in flat no 6 rang me and said that there was water leaking into our bathroom from the ceiling. This flat is on the first floor in a 4 story council block. I […]

Pension reforms are only planned to be used by 5% of landlords to build portfolios

24th September 2015

The National Landlords Association (NLA) has found that the majority of landlords don’t plan to take advantage of pension freedoms to invest in property. The latest research* by the UK’s largest landlord association revealed that, of those with a pension in place, just five per cent are planning on withdrawing a lump sum to invest […]

Tax relief on sale costs of rented property?

24th September 2015

I was wondering if anybody knew the answer to the following scenario: I will be selling my only rental property (thank you for this George Osbourne!). I will at first try to sell through this website with tenants in situ, but failing this I have read on the government website that in the dwell period […]

Rent-owing tenant did a runner – How soon can I access?

24th September 2015

He owed three months (£1000+), I served a section 21, and a couple of weeks after that neighbours tell me they saw him moving furniture out. Shopkeeper below no longer hears footsteps above. Tenant won’t answer phone or email. On advice of letting agent (tenant find service only), put a 14 day Notice of Abandonment […]

Has Regulated Tenancy turned into an HMO subletting rooms?

24th September 2015

We run a shop and were able to buy the building in 2010. A protected/regulated tenant has been there since 1987, who we know, and so paid a price that reflected the situation. Somewhere in the distant past, the previous LL gave them permission to rent out a room to help with the rent. The […]

Complicated rent in advance AST written by agent?

23rd September 2015

My agent created following clause in the AST where one of the tenant pays some rent in advance and other one monthly: 1.10 Rent : £400.00 exclusive of Water Rates and other Utilities (subject nevertheless as hereinafter provided for) per calendar month of the Term Payable: in advance by standing order or bank transfer due […]

Deposit stolen by agent and I do not want to renew AST

23rd September 2015

I have a serious potential headache and would welcome your advice. In July 2009 I rented a house to a married couple and their family. The agents took the deposit (788 pounds) and placed it with My Deposits.Co . The agents subsequently closed down and stole the money. This happened in 2011. I contacted the […]

West Bromwich letter asking what repayment plan I have for the mortgage

23rd September 2015

I have heard that West Bromwich can indulge in dodgy practices (like UKAR etc) and I have just received a letter I would like advice about before I answer it. It states that I have 10 years remaining on ‘elements 1 and 99’ of my mortgage term (I don’t know what these ‘elements’ are) and […]