Richlist

True but.....this is an unprecedented global pandemic which has killed hundreds of thousands of people. There have been restrictions arbitrarily placed on democracies which has never happened before. It's still with us and many are concerned as we move into winter. My take is I'd prefer vaccination to be mandatory..... the Gov' don't want that so I accept the situation. But all I'm asking is for an applicant show me their vaccination certificate along with all the other stuff that's expected like..... their passport (& visa where applicable), their bank statment, their job offer or references etc etc.

Glad you are recovered Melboy. Make sure you get the booster jab. It wasnt intended to be a trick question but there are some serious considerations here:- Although almost all of the medical risk for an unvaccinated person remains with that person, a landlord accepting an unvaccinated tenant does expose himself to the increased chance of that tenant becoming ill, becoming unemployed and defaulting on rent payments. In other words the landlord takes on an increased risk. So, the question for the jury is......Do you want to accept that increased risk, when most of your time is spent searching for ways to reduce your exposure to all the other risks involved in letting property ?

Are we allowed to refuse tenancies to people who have not had x2 Covid Jabs ?

Its suitability depends on the lettings agents terms & conditions and your attitude towards risk & return. It sounds like it might be a situation where the lettings agent decides who rents the property, so you could end up with anybody, even someone who you would normally consider totally unsuitable moving in. More details will probably result in a better response

I think you will still be liable for CGT on your BTL because it's an investment property. Your situation is very unusual, there are very few people who rent somewhere to live and buy somewhere to let at the same time. You cannot nominate it as your PPR (principle private residence) because you don't & won't reside there. My advice would be to seek out formal tax advice from an accountant.

Well you don't want to be buying a BLT to let out cos that's a bacon, lettuce & tomato and nobody is gonna pay very much for a sandwich. 😀😀 On a more serious note: * You might struggle to raise a mortgage for a rental property if you don't already own your own home. If you do find a lender, they are going to be thin on the ground and might want special t & c's. * If you do manage to buy a property to let and it's the only property you own I don't see why you need to nominate it.

Well we would all like to be taxed less & not to be first on the list when new or increased taxes are introduced. But, all Governments know that provided the risk versus return formula remains favourable for landlords then they can tax away different elements of a landlords profits & the private rented sector will continue onwards & upwards virtually unaffected. Property is & has always been a great place to invest. Even now, even with the recent adverse legislation introduced in the last few years, it's not a bad place to put spare money. But this landlord will not be voting for Labour anytime soon.

Would they travel to London to unlock my car ???

Underestimated ? How ? Did he not visit the property ? Did he not measure the property ? Why not contact him, point out his rather large mistake and request a refund.......otherwise it's small claims court. I wouldn't pay for such a poor service. You must expect a professional job, not a poor one based on a mistake. Give him a bad time.

I assume this could lead to the opposite of what you are trying to achieve ? * Get an EPC done = a poor rating. * Have the EPC re-done by another assessor = an even poorer rating.

Just one final piece of information......I don't know if your property is freehold or leasehold. * Freehold sales normally complete quite quickly, especially if you have, as in your case, a first time buyer & no ongoing chain. * Leasehold property traditionally takes far longer. Every leasehold property I have ever sold ( including cash buyers, first time buyers, buyers in a hurry and no ongoing chain) has taken 4+ months to complete......some took between 5-7 months.

The date of the next budget was announced today......less than 2 months away.......27th October. Just when you thought it was safe to go into the water........ I am expecting the results of all the spending reviews to result in bad news for the rentals market. Let's hope I'm completely wrong. 😕😕

Insisting that a tenant serve notice in case they don't complete the purchase of your property just doesn't seem right to me. 1. It's very unfair. You wouldn't expect to get away with imposing any penalties on any other normal buyer who didn't complete. Buyers are all free to withdraw prior to exchange of contracts.......and so it should be. There are a whole list of perfectly legitimate reasons why a buyer might not proceed to completion. 2. I'd be surprised if the law would support such a move. Now, if the buyer (tenant) was offered the property at a discount to normal market value it would be reasonable for the seller to include/negotiate/expect something to be added to the sale contract in exchange for that discount. That might be, for example, sale completion within a shorter time frame. If the buyer (tenant) is paying the normal market value why is the buyer expected to disadvantage themselves by serving notice before they are in possession of all the facts. It's not right. Selling to a sitting tenant carries advantages for both parties. But in reality it's the buyer who should expect a discount on the price. The alternative for the landlord is to serve notice, place the empty property on the open market, loose rental income, pay c/tax & utilities and all the other costs of managing an empty property. A 6 month void whilst preparing, marketing and selling the property could cost the landlord a few thousand pounds.I Treat your tenant with respect, don't impose sanctions because they are actually very likely going to save you a few thousand pounds.

If I were you I'd ask your buyer to provide..... Written proof from their mortgage lender that they have a mortgage agreed, in principle, for a sufficient sum to purchase a property at your agreed price. If the amount is less than your agreed price they will also need to provide evidence that they have sufficient deposit available to cover the shortfall. This is usually what an Estate Agent would do when checking out the suitability of a potential buyer. If that checks out then you both need to appoint solicitors and get the deal started.

I don't see the point of the S21 giving 4 months notice. Why can't you just trust the buyer & issue an S21 if buyer fails to complete ? Presumably you have carried out the usual checks on the buyers ability to raise a mortgage & pay a deposit on exchange ?

I see a lot of positives from this move by Lloyds Bank. * Increased demand to buy will help keep sale prices high. * Large organisations won't be able to offer the same level of service provided by smaller private landlords. * Large property organisations have much more leverage to rein in adverse legislative changes to the property market. Etc etc. Are there any downsides ????

Let's look at the facts in this example: * You have never met the tenant or carer. * You didn't check their references or suitability. * You have no contract with the tenants......your contract is with the Gov' sponsored organisation. * You don't manage the property. *You don't received rents from the tenants......you are paid by the Gov' sponsored organisation. You clearly have no responsibility. You have signed all of that away for the 3+ years of guaranteed income.

I have no experience of selective licencing and I have no wish to gain any experience from letting property in Wales since the devolved Welsh Assembly have made it very clear they don't want me buying property in their area. Surely it's up to individual landlords to read & understand the details of the contract they enter into with third parties ? In order to do that properly wouldn't independent legal advice be advisable ? Don't you think that doing neither and assuming responsibilities might make things worse and achieve the opposite of what was intended ?

Hot tubs I know about.....had hot tubs for at least 15 years. Most full size tubs hold around 400 gallons so, that's just under 2 cu mtrs (cu mtr = 220 gallons). Water needs changing every 4 month bys. Easy to drain off with hose into drain. Takes an hour or so to clean. Filter needs soaking in chemicals overnight. Then a couple of hours to refill and a few hours to reach operating temperature. All this X3 times a year......It's very easy. * You won't notice the water costs on your bills. * Electricity costs are minimal......equivalent of leaving a 75watt light bulb on 24/7. * Chemicals approx £150 a year. * In my experience installing a hot tub will result in your property becoming a magnet for lots of bikini clad women who will drink your wine. 😁😁

You won't be particularly surprised to know that I disagree with you. I also like to develop a good relationship with neighbours and most of the time things tick along famously. I certainly would not advocate going out of one's way to upset anyone. However, if you sign your property over to a third party, in the case you describe it was a Gov' sponsored organisation, you also give up all opportunity to pick & choose who or what moves into the property. Responsibility therefore transfers to the organisation dealing with selection & management of those tenants. The neighbours can deal directly with that organisation or with the local authority who usually have an environmental department who deal with this sort of bad behaviour. The property owner has no direct responsibility, they have already signed it away.

Outdoor pools need expensive heating or they only get used for a few weeks at the height of summer in the UK. I don't see the point of an outdoor pool in the UK ! Indoor pools are much more expensive, they also need heating or won't get used in autumn & winter. Don't underestimate costs for water......will need changing regularly. Don't also underestimate the cost of chemicals which will run to a few hundred pounds a year. Maintenance costs can be high unless you dispense with a pool man to look after it for you. I had a friend with a swimming pool and he was always moaning that family and friends would just turn up at his place with towels and costumes at any time of the day. They would splash around in his pool, drink all his booze and then sod off leaving him to clear up.......you have been warned.

Dodged a bullet.....in what way? The tenant and carer might be upsetting a few neighbours but so what, it's Gov' sponsored. What problem is that for the property owner ?

That depends on what you mean by 'best'. Normally letting property benefits from rental income and capital appreciation. It's entirely possible to buy property that provides fantastic rental income (yield) but very, very poor increases in capital value. Likewise some property will provide smaller rental returns but will rise in value much quicker. The whole process of buying a suitable property for you, in your area depends on many factors. One could argue that the very best returns might be gained from buying property that can have value added to it e.g. add a bedroom, add a bathroom, add an extension, build on spare land, convert to HMO etc. You might also consider the types of tenants you want to attract and wether it needs to be near a railway station or industrial area of have good road links etc.

Over the past 20+ years of being a landlord I must have kept & filed away virtually every single document relating to my tenancies on the basis that it 'might come in handy one day'. That day has never arrived so I've just spent the last 3 days disposing of most of it by shredding & burning said documents. I've just kept the tenancy agreements for posterity and the last 7 years of associated tax related stuff. I'm telling you because it's been bloody hard work. I really wish I'd been a little more disciplined with filing and keeping records so that I wouldn't have needed to waste the last few days disposing of it.

Are you located in the UK ?