LandlordZONE

02

Oct, 2014

Thursday

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  1. Replies
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    Written to the solicitor now to try and get him...

    Written to the solicitor now to try and get him to get the accountants to change the accounts.

    Should the service charge and reserve fund be separate invoices and go into separate bank accounts?
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    244

    Most likely the property they are renting is much...

    Most likely the property they are renting is much better than the property they are buying. It is still mortgage fraud what they are attempting to do.
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    I have redone the I&E sheets as suggested and...

    I have redone the I&E sheets as suggested and separated out SC and RF fo r the 2 years in question. Quite simple to do and makes a lot more sense now. We haven't credited the surplus back yet as...
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    jenbobob1985, The solicitor will expect the...

    jenbobob1985,

    The solicitor will expect the property to have vacant possession so the tenant remaining is a big clue that you will not be moving in. You have been caught out!
  5. Replies
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    Thank you. Insurance has been accounted for. ...

    Thank you.

    Insurance has been accounted for. It was listed in the previous years accounts but paid for a month later as there was no money in the SC account. The leaseholder who is suing us has...
  6. Replies
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    30K budgeted, 20K billed, 14K collected. The...

    30K budgeted, 20K billed, 14K collected.

    The accountant is nervous about redoing the accounts as it has gone to the tribunal so has recommended we quickly do this years accounts and transfer all...
  7. Replies
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    1,146

    MA only collected 20K as we changed the budget...

    MA only collected 20K as we changed the budget half way through the year at the AGM. So I assume we should go ahead and keep the SC allocation the same for that year and place the rest in the...
  8. Replies
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    Where do outstanding arrears figure in the...

    Where do outstanding arrears figure in the balance sheet?
    Can you clarify when you say prepayments must be ignored.
  9. Replies
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    469

    Noisy hours are 8 to 1pm on Sat and 8 to 6pm on...

    Noisy hours are 8 to 1pm on Sat and 8 to 6pm on weekdays. Outside those hours they can have reason to complain and need to complain to the council.

    Unless they have a clause in the lease which is...
  10. Replies
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    Thank you Ram. That is what I have done now. ...

    Thank you Ram. That is what I have done now.

    The money is all accounted for and there is no funny business as he keeps insinuating, however my figures differ from the accountants and this...
  11. Replies
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    Thank you. That makes sense. What happens if we...

    Thank you. That makes sense. What happens if we have budget £30K of which 10K is SC and 20K reserve so a 1/3 and 2/3 split. The MA only collected 20K. Do we allocate 10K to the SC first and the...
  12. Replies
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    This has indeed been an education. How are...

    This has indeed been an education.

    How are reserves accounted for? Are they in their own category?
    Do they appear in the income recived?
    How are expenses that are paid from the reserve shown?
    ...
  13. Replies
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    Ok understood. So we should explain to the...

    Ok understood. So we should explain to the director suing us and FTT that we need to subtract the prepayment of insurance from the income which would bring our surplus down by 3K which would put us...
  14. Replies
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    In our case, the accountants have put the...

    In our case, the accountants have put the insurance payment in as a prepayment as it is paid 2 weeks before end of year for the following year. In the expenditure there is also an insurance payment...
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    Our prepayments have been included included in...

    Our prepayments have been included included in total service charges received. Is this wrong?
  16. Thread: CH Boiler

    by bbva
    Replies
    13
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    485

    You cannot run a combi off a gravity fed water...

    You cannot run a combi off a gravity fed water system. It must be connected to mains.
  17. Replies
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    You have made a lot of sense. So in terms of...

    You have made a lot of sense. So in terms of going to court, we need to get our house in order first.

    As I see it, we have to separate the reserve collected from the service charges. The reserve...
  18. Replies
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    Thank you for your reply. The figures have been...

    Thank you for your reply. The figures have been manipulated by the accountants which makes the company look in good shape but it has never been. We have always had 2 leaseholders who are in...
  19. Replies
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    The sc and rf are to be collected separately but...

    The sc and rf are to be collected separately but unfortunately the managing agent has lumped the 2 together,. There is a deficit on the annual running costs, and the surplus is the reserve fund...
  20. You cannot determine who can buy the flat...

    You cannot determine who can buy the flat upstairs.
    3 options:
    1. You can refuse consent to a loft conversion, giving them less room so maybe they will move out
    2. You could use the money from...
  21. Replies
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    Regarding the lease and surplus ( still waiting...

    Regarding the lease and surplus ( still waiting on answer from solicitor) but here is what it says in the lease:

    A certificate signed by the Lessor as to the amount of the Service Charge for an...
  22. Replies
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    We have just received estimates for our legal...

    We have just received estimates for our legal fees which amount to 4K. Am I correct in assuming that should the Company have to pay legal fees, the director who is suing us will also end up paying...
  23. Thread: Title Deed Issue

    by bbva
    Replies
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    920

    Many lease plans differ from the land registry...

    Many lease plans differ from the land registry plans as they have been altered through the years. We have just submitted a new lease plan of one of the flats in our building to include a garden. ...
  24. Thread: Title Deed Issue

    by bbva
    Replies
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    920

    Once again, if you are the freeholder, why is...

    Once again, if you are the freeholder, why is your solicitor insisting that the leaseholder of the upstairs flat has to sign the Deed.
  25. Replies
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    I accept small dogs (no puppies) with an extra...

    I accept small dogs (no puppies) with an extra bond of 200.-GBP. I do not accept cats for one reason - cat urine is very difficult to eliminate without having to replace carpeting.
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