Page 813 – Property118

Check out report – can a landlord insist on being there?

28th January 2014

We are about to check out at the end of a tenancy. The landlord is insisting that he attends the checkout inspection. We feel this will produce a potentially confrontational situation and do not want to agree.  What are our/his rights in this regard? Thanks Stephen

Good News – GDP has grown by 1.9% in 2013

28th January 2014

The Office for National Statistics (ONS) has this morning reported the UK economy has grown by 0.7% in the fourth quarter of 2013 with total GDP for the year growing by 1.9%. These are the best annual growth figures since 2007 (recorded at 3.4%) although we are still 1.3% behind the peak GDP figure in […]

Property developing VAT

28th January 2014

I know this site is mainly for renting, but a lot of landlords also flip properties so may be able to help. If I was to buy, modernise and sell 3 properties each worth £100k in a year, hopefully making around 50k total profit (before tax), would I have to be VAT registered on the […]

Maximising Cheap Mortgage Funds

28th January 2014

Hello All, Just a quick one. I’m keen to get some opinions on the way forward. I currently have one buy to let, Value £120,000 , Mort £100,000 and I would like another one /two. The thing is, I have a flexible openplan residential mortgage (£70,000 outstanding) with access to around £50,000 of borrowing at […]

Letting Agent is Illegally Extending a Periodic Tenancy

28th January 2014

What are the best tactics here? I have found some great new tenants who want to move into one of my properties ASAP. They are currently on a Periodic Tenancy paying monthly, so by my reckoning, they should be free vacate their existing home when the next full period ends on 10th March, subject to […]

Clyde House

Boutique Student Property Investment on the Banks of the River Clyde

27th January 2014

Sponsored article :- Named the Highest Yielding Destination for Student property by Zoopla in 2013, Glasgow is firmly on the radar of anyone seeking a profitable addition to their property portfolio. Built by the developer behind the successful projects of St. Ann’s Lodge in Leeds and Nelson Square in Bolton, Clyde House is set to […]

Why don’t agents use ‘bad tenant’ databases?

27th January 2014

I’ve discovered that a tenant I’m currently trying to remove is already registered on a ‘bad tenant’ database. I’ve done a quick straw-poll with some of my regular agents and discovered that none of them routinely check if prospective tenants are on any of the various databases available. Does anyone know why these databases seem […]

Noisey tenants are putting my HMO Licence at risk

27th January 2014

HELP! I’ve an HMO Licensed flat in Edinburgh. My tenants have been noisy late at night and the Council Night Time Noise Team have attended. As this is the second event in 4 months this has led to me been warned that unless I take sufficient action then my HMO Licence may be withdrawn or […]

Can I hold the letting agent liable?

27th January 2014

A tenant has left a property with damage worth more than the deposit held, as well as owing one month’s rent and, by breaking the lease without notice, defaulting on the remaining three months of the lease. The tenant was originally supplied and vetted by a reputable letting agent and we paid the usual professional […]

Estate agents duty of care to tenants?

27th January 2014

My partner and I began renting a house through an estate agent last year. We paid our month upfront, our deposit and our admin fee to the estate agent to draw up the tenancy agreement. We have since received letters from the landlords bank and their debt collection company stating that the landlord has defaulted […]

Worried about a 20% drop in property prices?

26th January 2014

Hello! I am hoping to get some ideas from a dilemma that I have. I have just had an offer accepted on a London 2 bed flat (share of freehold I am pleased to say) I am buying to let out and in the last 4 or 5 months have seen prices rise rather crazily, […]

Accidental Landlord Twice – needs experienced help please

26th January 2014

Hello everyone, I need advice as a Buy To Let novice I am what might be called an accidental landlord. I was living in a flat I had purchased and then I bought another flat in another town as I was due to be moving there with my job. I did not move there in […]

Proof of section 8 notice

24th January 2014

How do I prove I’ve served a tenant a Section 8 notice? Since my tenant stopped paying he’s totally dropped of the radar. Won’t return my calls, won’t respond to messages or texts, ignores my emails and pretends he’s not in when I knock on the door.   I’ve dropped a section 8 notice through […]

To fix or not to fix that is the question for a first timer

24th January 2014

Hello all, I am a prospective first time landlord and am asking for any advice regarding buy to let mortgages. I am looking to buy a property for around £80k (with a £20k deposit). The best interest only mortgage I can find is a 2 year fixed rate mortgage at 3.7% (£185 per month), or […]

Why are local authorities Paying Housing Benefit directly to tenants?

23rd January 2014

I have recently written to Wellingborough Council as follows and would be interested in the views of other landlords (in particular those with a detailed understanding of the relevant legislation): Why are local authorities Paying Housing Benefit directly to tenants? It has recently come to light that Wellingborough Borough Council has been paying housing benefits […]

Housing Disrepair Pre-Action Protocol – need to reply in 20 days!!

23rd January 2014

Can anybody help me please? My previous tenant has appointed a solicitor who has written to me claiming for numerous things. One issue is “Repairs”. The solicitor states that the tenant complains of the following defects at my property since the beginning of the tenancy in June 2011. These include:- (1) The screws behind the […]

Term Refurb

85% LTV at 110% interest cover Buy to Let – InterBay Commercial

23rd January 2014

InterBay Commercial part of OneSavings Bank plc group have introduced a new Buy to Let range and of real interest for the market is an 85% Loan to Value product stress tested at 110% interest cover on the pay rate. This means that the amount you can borrow  is worked out by the monthly rental […]

First Time Buyer (BTL)

23rd January 2014

Hello Mark, I hope you are well and I will keep this short as I know you get asked a lot of questions. I am a youngish guy, with no dependants. I have roughly £35k sat in the bank and am keen to getting into property investment. I would love to know if the following […]

The 3D printer that can build a house in 24 hours

22nd January 2014

The University of Southern California is testing a giant 3D printer that could be used to build a whole house in under 24 hours. Professor Behrokh Khoshnevis has designed the giant robot that replaces construction workers with a nozzle on a gantry, this squirts out concrete and can quickly build a home according to a […]

Mark Alexander and David Morris MP considering an Early Day Motion at the Houses of Parliament 21-01-2014

Campaigns Against Tracker Mortgage Rate Hikes Reach Parliament

22nd January 2014

The campaigns organised by members of Property118 against hikes to tracker rate mortgage margins moved up a gear yesterday when I was invited to meet with David Morris MP and his aide Andre Walker at The Houses of Parliament. I spent 90 minutes with them in total. I also managed to get a very quick […]

Landlords Insurance and pest infestations

22nd January 2014

Please can anyone tell me if landlords insurance policies cover pest infestations? Including any damage caused by the pests. We have a problem with rats, the tenant is responsible because of the rubbish they let build up in the garden, and also the pet rabbits they are now keeping in the attached garage. Will our […]