Blogs
What Will You Do When A Tenant Destroy your Property?
A tenant has moved out destroying most of the furniture, doors, and white goods and refuses to pay for the damage, what do you do?
You can take them to Court to get a CCJ, but will they pay?
Report them to the police for causing criminal damage, but will the police take action?
You could engage a debt recovery company, but there is a 99% possibility you will not recover your money.
The legal system will not support landlords, there is no justice for private landlords I’m sad to say.
Landlords are experiencing these problems daily.
Many landlords are exiting the market because they have had enough.
We can’t help with your problem tenant, but we can help with the sale of your property and minimize Capital Gains Tax.
Growing Problems of Cannabis Farms in Rented Properties
Cannabis farms can cause catastrophic damage to rented properties with landlords having to fork out thousands of pounds for repairs.
One landlord suffered £15,000 worth of damage to her property after a cannabis farm was discovered in 2020.
Data from the Met Police found more than 1,000 farms across London in the last six years.
Cultivators/Tenants tamper with the electric meter, which could result in a fire at the property.
Are bad tenants forcing you to exit the Private Rented Sector?
We can’t help with your problem tenant, but we can help with the sale of your portfolio property and minimise Capital Gains Tax
Landlords, You Have No Rights
Landlords, you have no rights, your rent can be stolen by your tenants, your property trashed; your human rights taken away. All with the blessing of the UK government and the regional government.
Local councils are chomping to give you very large unfair fines for breaking the smallest “safety” rule.
Your one right to sell may soon be taken away as well …if you have only one or two properties, is it worth the hassle???
When you have had enough, let us support you to sell your properties and minimize your Capital Gains Tax.
Who Else Is Taking Your Money?
The housing secretary, Michael Gove, says he is ‘outraged’ over a Financial Conduct Authority (FCA) investigation into broker commissions on multiple-occupancy buildings insurance which found that leaseholders are paying rocketing premiums – fuelled, in part, by hefty commissions being paid to freeholders, landlords and managing agents.
Are you struggling to make a profit from your rented properties? We are here when you are ready to sell.
A Poor Letting Agent?
Recently a landlord stated, “A large London letting agent found and gave a glowing reference for a tenant, they stated that she was in a £90,000 pa job”.
“She had only been late paying rent by one day on one occasion”.
“Her previous landlord gave her a great reference”
Concerns were raised when she was 2 Months late with the rent, so further due diligence was carried out. We found out she was unemployed. She was evicted from her previous property for late rent payments. Her friend gave her the employment reference. It took 11 months to evict her at a cost of £21,000.
Who suffers all those costs and how long will it take to recover the cost? Give us the opportunity to support you when you consider exiting the private rented sector.
Read this article and judge for yourself: New ‘Sex for Rent’ Law Aimed at Predatory Landlords
Generation rent and shelter are mudding the water, landlords are categorised as rich, mean and grasping, forcing people to live in hovels at extortionate rents and evicting on a whim, now we are sexual predators as well. The article doesn’t present proof but makes estimates over 200,000 victims. I believe any form of sexual exploitation should be dealt with by the Courts. There is no place in our society for this behaviour.
Tarnishing Landlords in this way is another reason why, many are selling their portfolios and moving out of the private rented sector.
A recent poll finds 44% of landlords will sell their portfolios.
Increasing interest rates rise, successive hostile legislation and regulatory changes place significant burdens on private landlords. So it is not surprising that over 44% of landlords are considering selling their portfolio by the end of 2023.
“With reduced rental stock in the market and booming demand, those properties that are available have even higher rents which is a source of great concern for renters.”
Renters will suffer more increases in rent, where do we go from here?
A Recent Poll Finds 44% of the Landlords Will Sell Their Portfolio
Increasing interest rates rise, successive hostile legislation and regulatory changes place significant burdens on private landlords. So it is not surprising that over 44% of landlords are considering selling their portfolio by the end of 2023.
“With reduced rental stock in the market and booming demand, those properties that are available have even higher rents which is a source of great concern for renters.”
Renters will suffer more increases in rent, where do we go from here?
Pension Changes Forcing Property Sale
Regardless of whether you are a property investor or a property business owner in your 60s have you considered your exit strategy?
Are changes in the pension age impacting your decision to retain or sell your properties?
Should you decide to sell your property, have you considered the impact of capital gains tax?
When you reach pension age do you want to enjoy your retirement or continue chasing tenants?
We are here to help you clear the path moving forward.
A share of freehold of a small Victorian house – there are 4 flats.
There is an obligation to repair/redo the house every 7 years. The current sinking fund is worth around £45k.
Works had been agreed before the arrival of a new owner who owns 25% of the freehold to one of the flats.
The sinking fund is not enough to cover the entire cost of the repairs.
The new owner is extremely unreasonable and refuses to pay the additional or the agreed cost and has asked for a Section 20.
What do we do next?
With a share of freehold, you are all collectively responsible for the repairs to the agreed parts of the property. Confrontation will not resolve the issue, sort legal advice and where possible mediation.
There are other options, but this will add additional cost to each leaseholder.
See the article: What is the Section 20 consultation process for major works? – The Leasehold Advisory Service
