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george price

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About george price

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  1. It has been suggested that as we gifted my daughter the property, she may be able to gift it back to us, there of course wiould be no CGT, enabling her to avoid the penal stamp duty levy. Presumably thereafter, at a future date, we could possibly gift it back to her.
  2. Thank you both for your help. You are correct that she is looking to purchase in the region of low to mid £400,000 whilst her flat is probably worth £230-£250 k. I will investigate your idea with an accountant.
  3. george price

    mr

    8 years ago I gifted a small one bedroomed appartment to my daughter, partly to eliminate this asset from IHT and to help her gain her independence. She is now in a position to purchase a house with her fiance and start a familly, but finds that she is being priced out of the market by virtue of the fact that she currently lives in her flat and is being hit by a large stamp duty penalty of £18,000 above the normal stamp duty of £6,500. She does not want to sell the flat, as it offers a modicum of financial security in her future years as her (as well as most peoples' nowadays) and her partner's estimated pension is estimated at hardly adequate. When she starts a familly, finances will of course get tighter. Is there a method to avoid this crippling tax?
  4. This morning, unbelievably, the tenant advised that his water heater failed, I discovered a loose connection easilly fixed. I took the opportunity to confront and berate his attitude being quite prepared to call it a day on his tenancy. He appeared quite laid back and was apologetic admitting he did not expect me to be able solve the problems immediately. Some more prodding at him to provoke any latent hostility, he apologised again so I left it at that. He has been my tenant for 2 years, its less hassle and cheaper to continue with him for now. Thanks again for your help everyone.
  5. Thanks everyone, makes me feel better reading all your supportive comments. The electrician arrived this morning 7.30 am and changed the consumer unit and gave me his safety certificates to be followed by the official certification which also goes to the council. Good job done. The tenant also mentioned in passing that the bath plug hole had been blocked since he moved in 2 years ago and One Shot and plunger did not work. I told him I found this strange as the place was immaculate when he moved in and the bath had been cleaned and no problem with blockages, anyway, I gave it a a good dollop of One Shot this morning and it cleared immediately.
  6. Tenant rang me 2 evenings ago at 5.40 pm he had arrived home from work and found the consumer unit had tripped (and continued to trip) leaving no active wall sockets or immersion heater. Lights, cooker and electric shower worked. I attended and checked with him by pulling all appliances' plugs out in case one had developed a fault and contacted a plumber and electrician I use but neither could attend that evening. The plumber arranged to break off a job and check it out for next day, usually these problems are caused by the heater element getting lime scale corrosion and packing up and shorting out the system. The electrician put on standby and booked in for the following morning after. My tenant not at all happy so i offered to put him up in my spare room which he refused, however, the tenant above dropped an extension lead down which my tenant used for his essentials ie microwave, kettle and TV. and dropped him £20 as a thank you. The plumber disconnected the 2 immersion heaters but the consumer unit continued to trip. I therefore contacted my electrician who arrived at 07.30 am next day (today). He discovered that the fault lay in the electric shower,although apparently working, that when switched off it tripped the consumer unit, he disconnected it and it now works, so the tenant has power but no electric shower which he is not botthered about at the moment, I just bought a new one and it is booked in to be fitted later by the plumber. The elctrician will come back tomorrow and install a new updated consumer unit. Nice to be friendly with your tenant but they can turn. My tenant was going to call out an emergency service which he stated would be at my cost and or stay in a hotel at my cost and made no secret of how disgruntled he was and is. I pointed out to him that the problem was sorted quickly, an emmergency service call out at night which I am not convinced could have fixed the problem any quicker at a cost of an 'open cheque' did not impress him.
  7. The LA has today issued section 21 notice wef 17th March. His tenancy expires 17th January but we kindly allowed him to stay 10 extra days whilst his builders work on the house he is buying. He has asked for an extra extension, but we refused and requested what time he intends to vacate ojn 27th Jan, but have not yet had his response since 3 days.
  8. Hi and happy new year. The tenant allowed the block bookings and is allowing others to view accompanied by the LA (not by me). We kindly allowed him to stay until 27th January as work needed to be done to his house that he says he is buying and has now requested another month extension as there is more work needed doing. I have already booked workmen in for the 27th to fully decorate and make any repairs and they intend to stay in my appartment whilst doing the work to expedite it. As I know them its not a problem for me, but the LA has advised that because we did not issue a section 21 notice when the tenant gave notice of leaving,it is possible that he could refuse to leave. In this event, would this be classed as 'squatting' given that he already gave notice of leaving? and, we could all move in on the 27th and start the work?
  9. Thanks for your advice everybody, problem now solved, I received my rent through to 17th January 2015, he probably tried and was too late to withhold the rent, probably tried to not pay to avoid any deductions from his deposit of which I am only going to claim for the plumber as per the tenant's contract (also provided he doesn't wreck the place which I dont think he would do). We have block booking of 5 rental viewings for 3rd January. Have a happy Christmas and New Year.
  10. Yes, the LA holds deposit in accredited scheme. The plumber was paid by LA and deducted from my rental receipt, documentation is held by LA (advantage of using LA full management 10%), unfortunately it doesn't look as if there will be enough deposit balance remaining to to claim reimbursement because tenant is offsetting rental arrear against deposit held under the guise of not having enough money to afford the rent. So, I thank you for advising me that I can pursue the plumber's cost through the small claims court, do you think I can set into motion immediately through the small claims court recovery of defaulted rent? Thanks
  11. My tenant has informed the LA that he is buying a house completion 18th January 15 but intends to vacate 27th January. He states that he cant afford the final rent so take it out of the deposit which would leave me £100 but he does not want to pay the rent 18th - 27th January until the 18th January, therefore based on the above, I dont trust him to pay this. He has been my tenant 46 months and has not had any rent increases. He suffered a blocked kithchen drain internally, his responsibility (externally it is appartments' management responsibility) under terms of the contract but refused to pay the plumber. Overall, he has been a right royal pain in the proverbial, I even handed full management to the LA as I didn't want to get personal with him. The LA suggested to give him notice to leave, but I thought that we should not react negatively and I bore in mind also that he had 2 young children in the local school so I did not want to disrupt their familly life. Under current legislation, with landlords at a disadvantage, I do not have time issue default notices, it would seem that he will get away with defaulting on the rent and breaking his contract on the deposit and plumbing repair, probably he will calculate the exact rent amount owing to me net of the deposit. He has also stated that he will allow viewings but will not allow a visit to the property by the LA or myself for any other purpose. Presumably I am entitled to give 24 hours notice to visit but I think he can refuse entry under current legislation, correct me if I am wrong. Can I take action through the local small courts?
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