I have not mentioned any names as there is an ongoing police case. I would like some options with regard to this issue. I have recently been informed by a newly appointed management company that they have been appointed to manage the site. These are the bare bones of the issue ….. The site consists... Read more
The post Company director of management company empty’s bank account appeared first on Property118.com.
I have a tenant in a flat which is in a block of four, I only own one of the four, my flat is fully managed by a reputable agent. The owner of the flat next door is complaining that my tenant is very noisy in the early hours, screaming at her child, & allegedly... Read more
As I am frequently out of the country I have a single rental property under full management with a local agent. They previously arranged rent and legal protection cover for me through their block policy rather than as an individual. As it was getting increasingly expensive I have sourced an alternative cover which is considerably cheaper... Read more
The post VAT due on Landlords’ Rent and Legal Protection Insurance? appeared first on Property118.com.
My husband and I are new to property investing. We are currently living in a 3 bed semi which we would like to rent out next year. But first we would like to invest in some property in auction, ideally for around £120k (cash buy plus £30k for other legal and repairs), then sell it... Read more
Despite a few technical issues with my connection, this is a very interesting podcast with TDS Director of Customer Relations, Ben Beadle.
Ben talks a bit about the background of TDS and also their plans for the future and their charitblle foundation.
He also answers listeners questions which tended this week to be mainly on holding deposits.
You can listen to the talk via the player below:Note that you can also find us on itunes >> here. >> Click here to be kept informed of new Landlord Law Live events
Confused by podcasts? See our >> podcast guide.
If you have enjoyed the podcast – please leave a rating in iTunes – the podcast guide will show you how
It now appears that any estate agent ‘going it alone’ and buying their own drone for aerial photography of properties will have to secure the agreement of the Civil Aviation Authority if they are to obtain appropriate insurance.
Neville Price of Chichester-based Skyhound.co.uk - and an Estate Agent Today reader - has contacted the CAA to clarify uncertainties which have surrounded drone flying in this country.
“If you fly as a hobby and there is no remuneration, and any photos are for your own personal use, you can get insurance as a hobbyist. If agents are using that [status] to fly, if they have an accident and someone claims, it’ll very quickly become apparent the insurance doesn’t cover them for any commercial work” Price has told Estate Agent Today.
However, to obtain appropriate insurance for commercial purposes, CAA agreement is required; to do that, insurers will require a copy or the original paperwork giving consent.
All agents currently or potentially using drones, contacted by Estate Agent Today, say they intend to use third-party organisations such as Skyhound and the many others which are now being set-up as this technology matures.
The CAA’s response to Price’s queries puts considerable emphasis on the fact that agents are, of course, paid by vendors for the production of photographs from drones. This payment - whether in cash or kind, in fact - counts as ‘valuable consideration’ and renders the purpose of the drone flight to be commercial, and not hobby.
“Aerial Work is defined within the Air Navigation Order (at article 259) to mean ‘any purpose, other than commercial air transport or public transport, for which an aircraft is flown if valuable consideration is given or promised for the flight or the purpose of the flight’” says the CAA spokesman in response to Neville Price.
“As is often the case with legal meanings, there is a fair bit of leeway here in terms of the interpretation, but the basic question that needs to be asked is ‘what is the purpose of the (specific) flight?’. Valuable consideration is more than just a simple exchange of money, it can be anything of value that is given to you (food, a night in a posh hotel,….the list goes on) but it needs to be given in exchange for the flight” the spokesman says.
*Our thanks to Neville Price for sharing his investigative work with agents.
- Aerial Photography
- Civil Aviation Authority
The new homes director of a Home Counties agency is warning developers not to threaten the beauty of the region with too many or poor quality developments.
“This part of the country contains some of the most desirable places to live in the whole of the UK – so of course people want to come and live here. But it’s crucial that we ensure any new development doesn’t put at risk - or even remove - the very qualities that make this region so attractive in the first place” warns Daniel Galati of Mullocks Wells.
Galati says statistics come from the Chartered Institute of Purchasing and Supply - which show that the housing market in July was so buoyant it propelled the construction industry to one of its best performances since before the recession - are welcome in general.
“However, it’s essential that any new building is only carried out in places which can sustain it. Development is needed, but not to the detriment of an area’s infrastructure. Aspects such as schools, roads and transport all need to be able to cope with the impact of any new homes – so every site needs to be chosen very carefully” he warns.
Galati’s comments come as some agents report a stronger-than-expected increase in demand for new homes in several parts of the country.
“Interestingly, the market for luxury new builds has fared well this year, with buyers attracted to high specification turn-key properties that don’t require any work” says Charles Lawson, a director of Jackson-Stops & Staff in the south west.
- new homes
- Mullocks Wells
- Chartered Institute of Purchasing and Supply
The Green Party claims the government has censored a report which suggests homes in close proximity to fracking sites may lose value.
The report - Shale Gas Rural Economy Impacts - was written in the spring and published by the Department for Environment, Food and Rural Affairs. However, substantial elements of the report referring to house prices have been removed from the version made available to the public.
Those parts of the report which were not removed included a reference to US experience, where homes close to fracking drilling sites lost up to 14 per cent of their value, and proved more difficult to sell.
The government recently said up to £100,000 of public funds would be allocated to communities affected by fracking - a small sum, possibly, in comparison to house price falls.
A Lancashire pressure group against fracking in that county claims that an estate agent earlier this year urged sellers to accept offers and move out as quickly as possible before more became known about fracking.
The Green Party has described the so-called 'censorship' of the report "almost comical."
Back in April of last year Estate Agent Today reported that the Legal and General Surveying Service claimed fracking could have an impact on the long term desirability of an area, and consequently on house prices.
- The Green Party
- House Prices
Move with Us has been appointed as the government's official Right To Buy agent, assisting housing association and council tenants wishing to buy their homes.
The latest figures for RTB suggest that although it may have had its largest impact over a decade ago, it is now enjoying something of a renaissance - 3,376 local authority or housing association homes were purchased in the first quarter of the year, the latest available figures.
Across the UK some 11,238 ex-LA or ex-RSL dwellings sold in 2013-14 compared to only 5,944 in 2012-13.
"The Move with Us expert advisers will be able to help tenants through the process from application to completion" according to housing and planning minister Brandon Lewis.
Move with Us will operate a dedicated local rate telephone helpline, as well as email and website services.
- Move with Us
- Right To Buy
- Housing Association
I carried out some filming with BBC One’s Inside Out programme on Friday. After setting off early and getting stuck on the dreaded M25, I eventually arrived in Orpington to meet my landlord Brian at his property, where an eviction with the county court bailiff was due to take place. Incidentally, two days earlier, the... Read more
The post Landlord action to appear on BBC One programme Inside Out appeared first on Property118.com.
I regularly update the products on our own in house Buy to Let Mortgage sourcing system and calculator. This takes quite a bit of time, but it is definitely worth it is worth reminding readers what it can do as it is our own in house design specifically based around the needs of property investors.... Read more
The post Property118′s own Buy to Let Mortgage sourcing system and calculator appeared first on Property118.com.
My wife has a mortgaged flat solely in her name which we are looking to sell which would have a capital gain of approx £25,000 after costs. I know it has been discussed on here previously about adding a spouse (me) to the deeds on the day of sale to reduce the CGT. However, when I mentioned... Read more
The post Reduction in Capital Gains by transferring to spouse appeared first on Property118.com.
Is it possible to ask the letting agents/landlord for all the information they hold on you through the freedom of information act? I rent of a letting agents but I’m suspicious they are not contacting my landlord about things I’ve asked about (basic maintenance) which has been going on for ages, and now, a tenant... Read more
Since 2009 I have let a flat that was my mother’s through a letting agent. The agent is very inactive and I was thinking of closing that contract and managing it myself. I already arrange all repairs etc myself. There have been no rent increases since the tenant moved in and I’m contributing to a... Read more
I would be grateful if you could help me. I have just evicted a housing benefit tenant over a protracted eviction process; she had been renting from me since 2011. She owes approximately £5,000 in rent – I had told her that she was welcome to stay as long as she likes and as long... Read more
Here is a question to the blog clinic from Fiona (not her real name) who is a landlord
I have let my property out last year to a couple. We had a 1 year fix contract and it started on 25th Aug 2013. They asked to renew the contract this May. I told them I won’t renew it as I am going to sell this property. Then they asked to end the contract early.
We agreed to change the notice time from 2 months to 30 days (I lacked experience). Then on 9th June they sent a notice to me to end the contract on 9th July. On 25th June, they paid full month rental.
Before they handed the keys over to me, they asked me to return 16 days rental to them. They still handed the keys over on 9th July. And I have returned their full deposit back. Now they emailed me to say they will move the case to court if I don’t return 16 days rental to them.
Two points they argued in their letter of claim:
- 30 day notice has overruled other clauses such as the property is rented monthly and rental is payable monthly
- They argued they didn’t receive the receipt of the the deposit. They will start proceedings for statutory compensation for non-compliance with Section 213 of the Housing Act 2004-Information relating to protection of the deposit to be provided to tenants within 30 days of receipt of the deposit.
For deposit, I have registered their deposit in TDS last Sep. I signed Prescribed Information and sent the TDS certificate and Prescribed Information to them by post. But they didn’t return the forms to me signed.
The first time they inquired about their deposit protection was 2 days before they moved out (7th July). I sent the TDS certificate to them when I returned the deposit (17th July). But they still argued this in their letter of claim.
I think I have complied with my obligation but I am not 100% sure what judges may think.
So I am emailing to you to ask for your advice
- whether their claim is lawful to the contract
- whether I will have a bad position in court because of deposit notice.
My view is that you should refund the money.
Although the rent is payable monthly, if you agreed to allow them to surrender the property early on a specific day, I think it is arguable that you should not receive rent for the subsequent proportion of the fixed term when they were not in occupation, in the absence of any agreement to the contrary.
If you do this again, it would be best to make it clear exactly what the arrangements are as to the rent, in writing.
So far as the deposit is concerned, I think you may be vulnerable to the penalty. You say you protected the deposit ‘last September’. But was it before or after the 30 days deadline landlords have for protecting the deposit under the legislation? You need to check this.
However the real problem is the prescribed information. When did you send it, exactly? Do you have proof of postage?
If your tenants claim that they have never received it then (as you will not be in a position to prove it was actually delivered to them) the Judge may well take the view that it has not been served properly and impose the penalty.
It is not up to the tenants to confirm receipt of the deposit paperwork at the time – it is up to you to protect your position by ensuring that you can prove that it was served.
16 days rent is considerably less than the penalty you would have to pay if the Judge found against you, so I think you would be best making payment and then putting this all down to experience.