Property 118

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Property Forum and News website where UK landlords and letting agents share best practice
Updated: 2 hours 15 min ago

BTL passive startup but now seriously commited

19 August 2014 - 8:38am

Firstly, I have to say that I have only been landlord for 3 months but already use this platform every single day to try and figure out my next steps in building my property portfolio and cost savings.  I acquired 2 BTL’s, a 2 bed and a 3 bed house in last 3 months with... Read more

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Am I still liable for agent selling fees if my tenant buys after 5 years?

19 August 2014 - 8:26am

I have sold my property to my tenant after five years of them renting I used a local estate agent on a letting introduction only on a 12 month contract.  Neither we nor tenant have had any contact from agent ever since. My tenant wants to have their deposit returned which is with the agent.... Read more

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Withholding some of the tenants bond

19 August 2014 - 8:11am

I would like some advice on withholding some of the tenants bond.  This is the first tenant that we have had in the property and they have just come out of their 6month agreement. The tenant has had some sort of large paddling pool covering the lawn and has clearly had it up for quite... Read more

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Property Investment Strategy with plans for immigration

19 August 2014 - 7:56am

I recently came across Property 118. Kudos to Mark et al. for creating an amazing resource and community for like mind people! I am what you would consider a newbie in the property investment scene. I am freelance IT consultant living in the UK for the last 15 years. I was lucky enough in 2001... Read more

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Can’t get mortgage on 12th floor flat, should I buy cash?

19 August 2014 - 7:35am

Hi all I have seen a flat for sale in South London, a few stops away from London Bridge, so excellent location. It is advertised at £210,000 – Cash only.  This is an amazing price and based on the rent it would generate, a good solid rental yield. Now my concern is that this flat... Read more

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Reducing Tax Liability on a Renting Property

16 August 2014 - 10:37am

Currently my wife and I are joint owners of an apartment which our daughter lived in until recently. Now she has moved out we are about to rent it. I am a 40% Tax payer and my wife is a 20% Tax payer, so we are looking at every avenue to reduce our tax liability.... Read more

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Next steps to build my property portfolio?

16 August 2014 - 10:25am

Firstly, I have to say “I love this platform”, thank you all so much. A brilliant resource which I often find myself reading for hours on end rather than getting on with work! Oh, and in ref to a comment this week I don’t really care if my questions sound naive! My question is about... Read more

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Management Agency letting my tenant down!

16 August 2014 - 10:16am

I am really distressed as my tenants (a lovely lady with a young son) have asked for early release (which I have granted) because she does not feel safe.  The problem is not the flat itself – she loves it. However, the blocks entrance is flimsy. It has been broken into twice in three months.... Read more

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Oldham – Selective Licensing ?

16 August 2014 - 10:09am

Oldham is the latest council to be offering landlord/community consultation about “selective licensing” in some of their wards. They are offering landlords the opportunity to complete a rather loaded questionnaire about what they think….. it can be found here >>> www.oldham.gov.uk/landlordconsultation  Interested parties must respond before 30th September 2014. The 2004 Housing Act said license fees... Read more

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HMO buy to let mortgage

16 August 2014 - 9:49am

I am considering remortgaging my house to let it out as a HMO.  I am right at the beginning of the process and need to prepare the house and therefore need advice on what needs to be done. Also whether the house has to be totally ready to let before I can apply for the... Read more

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