Richlist

Well I'd have thought there were 2 options. 1. Tenant has flooring removed & everything affected (skirting, doors etc) repaired or replaced. Or 2. If landlord agrees.....flooring installation remains but alternative heating is installed. Landlord to approve design & installation. Decide what you want, get tenants agreement, set a schedule, make sure you are involved in specs and who does the job. The tenants reaction is very likely to be surprise &/ or refusal to accept. They probably haven't read the contract and it will come as a shock. Any work sounds like it will be expensive.

The OP is asking for advice on where they stand......I'm giving my advice, which is, let the tenant go. The landlord can refuse, the law is on their side but there is a need to be aware of the possible result of that decision. A landlord who stands their ground and refuses to let the tenant go will clearly see a breakdown of any remaining relationship they had with the tenant i.e. it can only get worse. They might then find......a few months without any rental income, the need to expend lots of time & effort and potential damage to property. Leaving 8 months into a 12 contract isn't a big deal.

1. In the OP's case it's only 4 months early (could be less if notice not served yet ). The landlord will need to pay all the usual fees if the tenant left at 12 months so I don't see any 'extra' costs for the landlord. 2. That's got nothing to do with the tenant. The location, desirability & suitability of a property is entirely the owners responsibility and I don't see how a tenant can be held to account for the owners poor choice of rental property. 3. This tenant wants to be released now so the point is not valid in this case.

I've never understood landlords who try to stop tenants leaving early. Why ? If a tenant needs to leave early they are going to do exactly that or cause numerous problems if you try to stop them. Just let them go.....you've had 8 months of income. Let them go & move on.

Well I guess the first question is what kind of tenancy is it ? Is it an Assured Shorthold Tenancy ? Is the property in England or Wales ? If the answer is yes then most AST contracts include a clause along the lines of......tenant agrees not to make any alterations or additions to the premises.......without the previous consent in writing of the landlord and to leave them at the end of the tenancy et c etc. So, tenant is in breach of contract. If you don't want the flooring just get them to take it up at the end of the tenancy.

It's unlikely that you will recover your lost rent. You should employ specialists instead of solicitors. Landlord Action can deal with this for you.....a web search will provide you with details.

I agree. Serve notice. Did you take a deposit ?

Why didn't you ask why there was no landlord reference ? If they have lived in the UK for 6 months then there should be a reference. No reference available & no good reason = a bad reference. I wouldn't have touched them with your bargepole. It's not rocket science, it just requires a little bit of applied common sense.

I have no idea other than my own opinion. I think I'd feel ok if the sinking fund equated to £5K per flat but even that doesn't sound over the top for a long term maintenance plan. Perhaps another way to look at it would be ......17 flats, total value say £3 million, reserve fund £85000 = 2.8%. Again doesn't sound extreme to me. Any leasehold property with a large reserve fund might attract a top price and/or be easier to sell. I think there is a leasehold advisory service. If you are sure there is nothing contained in your lease then contact them. A web search should provide contact details.

I usually steer people away from this type of arrangement. The owner has no control over who moves into their property & there have been lots of media reports that have been less than complimentary towards this type of arrangement. Good luck.

Your sinking fund of £30K is not unreasonable.......it's less than £2K per flat. I have flats in a development of 90 properties in total & our reserve fund has at times been as high as 50K. This may seem large but external decoration every 4 years can be £25K and we just had roofing repairs of £15K +. What the freeholders & leaseholders rights & obligations are will be detailed in your lease, read it carefully. Every lease is different so it's difficult to advise. I've had situations, when purchasing leasehold property of the seller wanting me to pay more than the asking price due to the high reserve fund held for that development. I always refused but often wondered if others ever agreed. It's not unusual in a sharply rising market where the seller has contributed over the years to the reserve fund but it's the buyer who will likely get the benefit from it.

It could be £1250 pcm in some parts of the South east.

* I don't think there is anywhere in the UK where £125 per month for a 2 bed flat is the market rent......not now, not in 2016. Go talk to a local agent or trawl the small adds to check what similar properties let for. You may find it's many times what you are charging and you will never get away with upping it to the market rent in one go. * You certainly shouldn't be leaving dishwashers in the flat for such low rent.

Yes, but what are you going to do with them ?

The issue is the timescale from initial viewing until sale completion. Flats in my area normally take between 4 - 7 months. Now, due to Covid19, we can add another month to the process. Absolutely ridiculous.

I suggest the timing couldn't be better... It's 5 days before the end of the tax year. It's best to have all of your allowable expenses right at the end of the tax year for maximum benefit. Any bills, regular expenses maintenance & repairs etc.....you've got 9 days to spend and claim in this tax year. Don't delay.......

Here are all the details: https://www.gov.uk/government/publications/tax-policies-and-consultations-spring-2021

An Epc doesn't need to be renewed on purchase or sale, a valid epc just needs to be available. They last 10 years or until improvement work is carried out on the property......then they need to be redone.

I've let to many overseas tenants. They are always in the UK for work reasons and generally tend to be in the professions.....engineering, medical, teaching, IT, legal, management etc. They are usually very well qualified, mostly degree level or above. The ones I've had have been very honest, well behaved and have always avoided any dispute. In fact they don't want to do anything that could adversely affect their reputation or employment situation. The biggest problem I've found with overseas visitors is the culture change. For example.....those from the Indian sub continent usually have never experienced a British winter, have never known central heating. They usually are from middle class families who, in their home country have domestic staff. This means they are not familiar with cookers, fridges and have never used a vacuum cleaner as at home their staff deal with all of that. However, I would generally recommend overseas tenants in favour of anyone else.

Good point. So, no guarantor likely & ineffective RGI. That only leaves 3 options: 1. Do nothing. Or 2. Give up letting & sell the property. Or 3. Are you still allowed to ask for 6 months rent in advance ? If you go ahead with letting you can still * check the bank account, * the employment status/ contract, * the person & his qualifications, * ask about employment history, * ask to see the work permit/ visa, * references from where he has been living in The last 6 months. * meet him personally, gauge his suitabilty and that he meets your requirements. * check if he intends to move his family to the UK with him now or later. * don't forget immigration checks. * etc

I agree. My first action would be to check they qualify for rent guarantee insurance. The insurance company will deal with all the appropriate reference requirements.

If you are overseas then you presumably have a lettings agents that manages the property for you. Why can't they arrange the insurances for you ?

My recommendation is don't bother with it. Surely all you need is buildings insurance & rent guarantee insurance ?

Seems there is much less than expected......a crackdown on holiday let's and nothing on CGT.

Just a reminder. Today is tax day when tax changes are likely to be announced. CGT might be updated. Fingers crossed !!