bil8999

the car could be classed as abandoned, its the councils duty to make the owner aware that the vehicle could be removed.

Nobody has heard of Renov8 ?

Hi to all

Has any one come across a company called Renov8 , they are paid by grants from the government to insulate and upgrade electric heating systems.

Thanks

Months notice from any date they choose

Think we are making a bigger issue out of this than needs to be, consider there application the same as the others and reply say they have been unsuccessful.

What was the damage, any pics of condensate pipe , how it is terminated etc

Still don't see problem with telling him to put it back, if he refuses then serve notice.

Alternative, check what the finished project will look like , if acceptable then contribute to the cost and walk away,

Just tell him to put it back, end of

Let him go, move on

8 hours ago, Grampa said:

So is that because the agent did not provide you with all the facts or relevant info on the tenant they put forward? Or give an honest assessment of suitability?

 

All of the above

I have only used an agent for one of my properties which is some 20 miles from where i live.

Of all my properties it has been by far the most problematic.

This i believe was down to the people they had working for them at the time and choice of tenant.

Also it concerns me when the agents working on your behalf states that they own and let properties in that area, they will cherry pick.

Any photos, so we can see the damage

17 hours ago, Carryon Regardless said:

I don't see you need people for that. Your controlled (in whatever fashion) limited company could lease from you.

Wages can be paid to whoever for what ever. Dividens can be apportioned as available.

the idea behind it is that you can hand over the business to your kids, not just a wage, it gives them the incentive to grow, don't get involved, leave them to run it, maybe with a little bit of background help, get what you deserve to fund your life style, without paying CGT, yes ultimately there will be IHT, if it looks like its not working then sell.

I always said i would work on the tools till i was 70, 3 years from now, based on the tax situation i think it will be the way forward for me, daughter will run the business,  a guy that has worked with me now for 16 years will look after the maintenance and small building works. I will spend more time in Spain, but still in the background if needed.

Scenario, lease the properties to son/daughter at an amount that would fund the lifestyle you are after, he or she can keep  the rest as payment for looking after the properties, and to expand on the portfolio for the future. Any shortfall comes out of  there payment, that would create the incentive for them to keep the properties occupied.

No cgt

Just a thought

I have always thought that the tax payable on the sale of the bulk of the properties would prohibit me from selling, this company in my view have made a reasonable offer, its living with paying the tax that will make me decline the offer, that and the fact i have owned some of the properties for 40 years.

I will have to think of something to overcome the tax situation.

I have been approached by a company that wish to purchase my freehold properties, they are working on between 7 and 8 %, is now the time to sell?

They seem to be interested mainly in the flats.

Hi to all

At what yield would you think a corporate investor would pay for a block purchase ?

12 hours ago, Richlist said:

What I find works for me is..... after a tenant has rented from you for 5 years and you are happy with their performance is....

1. Make sure the rent is just below the market rent for your property.

2. Pay them back 50% or more of their deposit.

3. Send them a Xmas & birthday card with a nice bottle of wine.

The result is.....they are always very grateful and extremely happy. They find it difficult to move because everywhere else that's comparable has a higher rent and they have to find the deposit.....they will usually already have spent the refund from you.

We also make sure that we charge less than the market rent. 

May take on board the 50% refund and bottle of wine at xmas

I feel that over the years we have gone over and beyond to satisfy our tenants wishes.

If i remember the longest serving tenant was approx 20 years, sadly before she passed away.

10 hours ago, Richlist said:

Excellent.

I bet you haven't been out to Spain recently ?

I'm thinking it's likely to be September before we can go.

its now been 13 months since we were last in Spain, booked a flight for September, but i have my doubts.

12 hours ago, Richlist said:

I meet people all the time who are worried, concerned, apprehensive, even frightened about retiring. They don't know what they are going to do with themselves in retirement and I find that quite sad that when you take work from their lives there is nothing left.  Most of us have hobbies or interests or we are involved with organisations outside of work and once you free up your time you are able to spend more of it doing those things. I've always had a few things that I've wanted to do but have never had the time to do them.......retirement gives you that time.

Obviously during the current pandemic most people have had their lives put on hold. But normally, apart from the occasional day when I have absolutely nothing to do, I can always fill my day doing stuff that I want to do......rather than what my employer wants me to do.

Planning is the key to retirement.

Yes, i think i fit that mould, 41 properties, never had any borrowings, always in work, 4 lads that work with me, still got 8 to build on land i have owned since the late eighties, built a place in spain some 15 years ago, go twice a year on average, oh well tomorrows another day.

So to answer the question, i think it is fading away.

As Melboy said, age related, i am 67 and still on the tools working full time, always said i would keep going until i hit seventy, perhaps its time to cash in the chips.

Hi to all

I too am a long term owner of property, the first was some 43years ago, paid £1550, well tell a lie, done some work for a guy, he didn't pay the bill of £1550, so gave me the property next door that he owned, i converted it to two flats and have had them both rented out since, approx £9500 per year, now, if i was to sell i think the property would make circa 150k, less allowance 24k, that leaves 126k taxed at 28%= 35k , give or take a few quid, that would leave me with 115k, in the bank making nothing in interest. How can anyone think of selling at this time.  At the tax rates charged i would not advise anyone to invest in a buy to let, i would simply invest in my principal property increasing its value, then move, bank the profit tax free, then start again. Thats until they add a tax.

Hi to all.

When i acquired my first property let some 40 years ago, i fully furnished plus all white goods, now if i do supply any white goods i tell the tenant they are responsible for breakdowns, also i agree with them an amount they can afford each month to purchase the white goods, then when they leave they can take them. Job done

3 hours ago, Richlist said:

Your experiences are exactly that.....your experiences and it's absolutely right that you operate your business based on what works for you.

However, someone else may have entirely different experiences....  with different tenants, in a different part of the country, with a different property and a different business plan.

That's right, just don't be blinkered into thinking if you rent to professional people that they are any different to non professional working people, or is that just a chip on my shoulder.