Steve wants to know from readers of Property118 whether they think, in his circumstances, he should sell his property in an auction.
Steve has very kindly given us permission to publish his email below.
“I have recently inherited a 3 bed semi from my father. The property is in need of modernisation and is in a fairly deprived former mining village in Derbyshire. As my father payed no interest in the property he has never increased the rent and the same tenants have lived there for over 10 years at the same rent (£260 per month!). I have placed the property under the management of a professional lettings agent and they have increase the rent to £320 per month but say they can’t increase it any more for a while. Continue reading Would you sell in an auction if you were me?
Thanks for the responses to the original post, also entitled “End of Tenancy Council tax Demand“. To clarify the position it was a furnished tenancy so the empty relief is not possible.
Most of your responses confirmed my feelings on the matter but, as I had not been in this position before, I wanted to check fact/opinions before contacting the council which is Cornwall Council. Continue reading End of Tenancy Council Tax Demand – update
I am considering buying a property with a regulated tenancy. It is occupied by one person who is getting on in age. As I understand it once the tenant is no longer living there, either by going into residential care or moving or passing away, the property becomes mine to do with as I wish. Is there anyway that some one not presently living there can claim to take over the tenancy, such as a relative or friend who moves in to care for the elderly person or just another family member.
Also if I purchase the property in the name of one of my children does this create problems with HMRC? Continue reading Buying a property with a regulated tenancy – READERS QUESTION
As this is a true story about an illegal eviction I would like to remain anonymous please.
I witnessed it, it wasn’t my property and it was not a scene you would associate with an illegal eviction. No thugs with baseball bats, just respectable people in a respectable suburb close and the Police keeping a watchful eye on proceedings. It was well organised. I was invited to attend three days before by two separate people, the landlords arranging the illegal eviction and my tenants who lived three doors along. So what was it all about? Continue reading Illegal Eviction – A True Story
My letting agent has done a runner
My letting agent has done a runner and left various aspects of my property management in a mess.
In some cases, the tenants named no longer exist. The Gas & Electricity Supplier is owed a lot of money from these non-existent former tenants, and current ones which the agent has not advised them of. The supplier has intimated that as landlord, I am ultimately responsible for unpaid bills. Continue reading My letting agent has done a runner
I have a property which I rent to my son who is on Housing Benefit.
He has several medical problems mainly brought on by the use of drugs in the past.
I had two other properties which I had let out before to claimants that were on Housing Benefit. One of which was sold and the other is now in the process of being sold. Continue reading Can the Housing Benefit Office Do This?
Has anyone come across this end of tenancy Council Tax situation as I have for a property tenancy which recently ended?
The tenants left on the end day of a 6 month assured shorthold tenancy. They were responsible for Council Tax and received the demands and paid the Council direct and contacted the Council to end their liability as they obviously should. As Agent for the Landlord I then received a Council Tax demand in the Landlords name. Continue reading End of Tenancy Council Tax Question
I have a question regarding renewal fees from letting agents and would very much welcome any feedback or advice that readers of Property118 can offer.
I have used the same letting agent for the past 7 years. I do not have a portfolio so felt it would be best to use an agency. The agreement I entered into back in 2004, provided for all renewals to be charged at 8%. For the first 3/4 years 2 new tenants were introduced and there was one renewal which I renegotiated at a reduced rate of 6%. For the past 3 years the same tenants have stayed. I have negotiated the rent increase, organised the relevant certificates and done the tenancy agreement. The agents have done nothing and did not raise an invoice for the 2011 renewal so I assumed they had accepted they should not be paid as they have done no work on either renewal. Continue reading Renewal fees from letting agents – READERS QUESTION
Readers response letter to the article entitled “Landlords should not be allowed to let their own properties” in which our reader lists seven benefits to tenants of dealing directly with a landlord in response to …. “give me 6 good reasons why these other not their fault necessarily but unaware Landlords should be allowed to. If you get past 3 I will be impressed!!” Continue reading Seven Benefits to Tenants of Dealing Directly with a Landlord
My brother and I have decided to sell 9 of the properties in our portfolio. The purpose is to raise additional working capital to do more local refurb and flip deals. We are making between £30,000 and £60,000 a deal but we can only do one or two a year within our current resources. Therefore, selling some of our lower yielding properties furthest from home seems to make sense. Continue reading Selling a tenanted property portfolio – READERS QUESTION