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charger
11-12-2005, 19:59 PM
Hi

I can open my champagne now, as i finally got a proper full time job.
Therefore i won't be able to manage my properties by myself, and i am selling two of them at the same time.

I would not like to hire a letting agent to rent out my properties, and was wondering if assign this task to onother private person (not letting agent) or even one of my tenants that works part time, giving him extra money to take care of my properties.
Do you think the person should be registered to some kind of property business ; should he be a sole trader or own a limited company to do so ?

Can the contracts be signed by him/her ?
It'd be too difficult for me to do so and manage everything, and i don't want to travel miles and miles for a small signature. If you know London, you'll know the distance, between west London and surrey where my job will be .

What could it be your advise ?
Thnk you I appreciate that

MrShed
11-12-2005, 21:26 PM
Anyone you authorise to do so can manage your property. Of course whether this is advisable is a different matter. They can sign your AST I believe only if you have given express written and signed permission for them to do this on your behalf.

PaulF
11-12-2005, 23:06 PM
Charger asked:-

I would not like to hire a letting agent to rent out my properties You could lose a lot more money by NOT doing so!, and was wondering if I assign this task to another private person (not letting agent) or even one of my tenants that works part time, giving him extra money to take care of my properties. Absolutely doomed to failure! Don't ask why as it would fill more than a page, other than it's plain stupid.
Do you think the person should be registered to some kind of property business Yes! Yes! Yes! To protect your interests and insure against your losing money they should be ARLA/NAEA/RICS members.; should he be a sole trader or own a limited company to do so ?

Can the contracts be signed by him/her ? Make sure you sign all the AST's - why? because you'll know if they are any good, don't delegate this task even if you use an agent otherwise any old agreement might be used and probably will!
It'd be too difficult for me to do so and manage everything, and I don't want to travel miles and miles for a small signature. If you know London, you'll know the distance, between West London and Surrey where my job will be. In which case perhaps you should sell all your properties but remember the potential CGT liability!

What could your advice be? Do you want to stay out of deep doo-doos?

charger
12-12-2005, 15:12 PM
Thanx guys
I reckon i am getting a bit bored with this property business, and the more i grow old, the more i look for a stable life.
I have taken things easy in these days, and i am looking forward to start the new job in January.
However it is better as you said to employ a professonal one, or as last resort a letting agent even though it'll cost me few quids more ...
yes, have to admit it, the tenant idea of managing the porperty for myself it has been too silly, although i trust so much this guy .

As i wrote in my previous threads, i have already put a property for sale, and will see how it goes .

Thanx guys , this forum is a very powerful tool to know what direction to take and to make me think about staff i don't normally consider.