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Jul, 2015

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  1. In my experience if the lease says you have to...

    In my experience if the lease says you have to pay...then you have to pay.
    It is unlikely the agent will place any contracts unless he has the required money in the bank, hence the need to collect...
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    525

    Thanks. Noted. From further reading it seems...

    Thanks. Noted.

    From further reading it seems we will have to close the business and then sell the flats to qualify. It is our intention to stop letting at the end of this season (Sept) and we now...
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    Get hold of the company's Memorandum and...

    Get hold of the company's Memorandum and Articles. This will identify how the company operates with respect to the appointment (and dismissal) of directors and also the calling of meetings such as...
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    A way forward would be to enter into a...

    A way forward would be to enter into a development agreement with a property company for them to gain planning permission and build new flats and commercial units. You to remain a party to all new...
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    525

    Thanks for that. But HMRC define FHL as a...

    Thanks for that.

    But HMRC define FHL as a business...surely they can't have it both ways?

    The flats are the business assets. The building was bought and the flats created solely for the FHL...
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    CGT Entrepreneur's Relief?

    My wife and I run a Furnished Holliday Lettings business (FHL) and intend to close it over the next few months/years as we sell off the business assets, ie the letting units. The business assets...
  7. There's usually a wayleave for a cable running...

    There's usually a wayleave for a cable running across or over someone else's property.
    Get in contact with the local electricity distribution company and ask for the details of the wayleave. If it...
  8. Best to read your lease before spending money on...

    Best to read your lease before spending money on improvements!
  9. It's more likely to be the buyer's mortgage bank...

    It's more likely to be the buyer's mortgage bank chasing superfluous documentation.

    We had the same when re-mortgaging our holiday flats buiding...they wanted copies of everything presumably for...
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    That's what solicitors do, particularly...

    That's what solicitors do, particularly conveyancing specialists.
  11. It would probably be cheaper and easier to...

    It would probably be cheaper and easier to enfranchise the freehold rather than phaff about trying to prove if someone did or did not fail to comply with the law some 20odd years ago!

    If the...
  12. If there are only 2 directors managing the block...

    If there are only 2 directors managing the block then they can make the decision and get on with the works.
    However if it costs more than £250 per leaseholder then you have to follow the law that...
  13. Walk away! Sounds like the vendor, the flat and...

    Walk away! Sounds like the vendor, the flat and the housing association may be a pita.
    I know finding flats in London is difficult but as my mother always said "Don't run for the bus, another one...
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    If no cause for the leak can be found,...

    If no cause for the leak can be found, substantiated by their surveyor, and they didn't agree the recovery of the excess prior to them paying it then in my opinion they cannot recover it from you.
    ...
  15. Thread: Herding Cats

    by Tipper
    Replies
    14
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    1,395

    The participation agreement should be the first...

    The participation agreement should be the first agreement between leaseholders.
  16. Thread: Herding Cats

    by Tipper
    Replies
    14
    Views
    1,395

    The participation agreement is essential to...

    The participation agreement is essential to ensure all stay on board and ensures any change of leaseholder is covered and payment of costs tight, etc.
    You can find a sample agreement online with the...
  17. Thread: 59 year lease

    by Tipper
    Replies
    8
    Views
    299

    But if you rent instead you will have no building...

    But if you rent instead you will have no building upkeep and costs to worry about and cash in the bank to pay for your retirement pleasures! Perfect!
  18. Thread: 59 year lease

    by Tipper
    Replies
    8
    Views
    299

    Why buy at all? Would you not be better off...

    Why buy at all? Would you not be better off renting? I often wonder why people in their later years bother with buying at all other than knowing they can't be evicted.
  19. You need to find an experienced surveyor/valuer...

    You need to find an experienced surveyor/valuer who can value your freehold and the lease extensions. Then add what mark up you fancy and include for all your legal costs.
    If they don't like your...
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    Access for Gas Safety inspection?

    Hi, we're new to letting and need to renew the Landlord's Gas Safety Certificate. Our tenant is being difficult to pin down for a convenient date due to being a very busy person working long hours. ...
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    Following enfranchisement of the freehold of our...

    Following enfranchisement of the freehold of our house from the estate we have Deeds of Covenant to be signed at each transfer of the 'new' freehold.

    These are 3-way Deeds signed by new owner,...
  22. A further thought: If property can be owned by...

    A further thought:

    If property can be owned by an LLP can assets held by partners prior to setting up an LLP be transferred into an LLP and what would be the CGT/SDLT implications?
  23. Looks feasible to me. Have a read of this:...

    Looks feasible to me. Have a read of this:
    http://www.duport.co.uk/guides/company-structure/holding-property-benefits.php
  24. Thread: User clause

    by Tipper
    Replies
    2
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    147

    Yes. I think the interpretation of a clause like...

    Yes. I think the interpretation of a clause like that is for all living there to be living as one household and sharing their living costs, etc.
    Of course a person with a partner or fiancee would...
  25. Thread: R2FR queries

    by Tipper
    Replies
    12
    Views
    1,631

    You need to talk to an experienced...

    You need to talk to an experienced enfranchisement solicitor asap. And I mean experienced, not your normal run of the high street jack of all laws.
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