LandlordZONE

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Sep, 2014

Wednesday

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  1. Replies
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    157

    Buy the property as a freehold. Let the flats as...

    Buy the property as a freehold. Let the flats as you wish until you want to sell. When you sell one or both flats, create the leases at that time as part of the sale. No need to do it before...
  2. Yes, complicated. Counsel's opinion (and he...

    Yes, complicated.

    Counsel's opinion (and he co-wrote that well known book) sided with the freeholder amazingly but he also gave us the alternative route that we have followed. :(clap): It's just...
  3. Be aware that the verticality test may not be as...

    Be aware that the verticality test may not be as clear cut as you might think!

    You need to check the wording of your lease with respect to foundations and roof as it is possible for freeholders...
  4. Replies
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    Wow, how polite!

    Wow, how polite!
  5. Replies
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    1,006

    Surely the real issue here is whether you can...

    Surely the real issue here is whether you can live with the fact that you have killed all the occupants when your building caught fire? You're only talking about a few fire doors in its simplest form...
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    What do the leases say? I would expect the...

    What do the leases say?

    I would expect the leaseholders to pay for everything required for the maintenance of the building and their safety within it.
  7. The freeholder will want as much as he thinks he...

    The freeholder will want as much as he thinks he can get away with!

    If you do it by free negotiation you will not be able to contain his desire for cash and he will also want to cover his legal...
  8. Replies
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    You could spend a lot of time and maybe...

    You could spend a lot of time and maybe surveyor's fees trying to get £15100 down to £13100.
    I suspect £2000 is a very small percentage of the value of the flat in Clapham so it may be better to...
  9. You may also need to prove Building Regulations...

    You may also need to prove Building Regulations compliance if you plan to sell the flats either individually or as a whole.
  10. Replies
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    Too true! When I was selling my Mother's flat in...

    Too true!
    When I was selling my Mother's flat in which she had a share in the freehold owning company (annoyingly known as share of freehold by some!) the agent didn't understand what I was talking...
  11. Replies
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    1,436

    You have a statutory right to a 90 year lease...

    You have a statutory right to a 90 year lease extension at nil ground rent.

    Have a look at lease-advice.org which will tell you everything you need to know plus how to estimate the cost of the...
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    Not bothering with Section 20?

    A couple of questions...

    1. Can a management company and its managing agent seek at AGM not to bother with the necessary Section 20 notices for major redecoration and refurbishments works because...
  13. Thanks for you replies. It's clearer now. The...

    Thanks for you replies. It's clearer now.

    The freehold completion has been delayed again, it's been a long and rocky road, so no urgency yet to get buildings insurance in place. Contents are...
  14. Presuming it is currently one dwelling, you will...

    Presuming it is currently one dwelling, you will need full planning permission before you convert the basement.

    You will also need to satisfy building regulations in particular with respect to...
  15. Do you have permission from the freeholder in the...

    Do you have permission from the freeholder in the first place to do works to his building?
  16. Landlord's insurance- how does it work when property is empty pending letting?

    We have moved from our previous home and plan to let it therefore we need to put Landlord's insurance in place.

    We don't yet have a tenant but the original insurance is up for renewal soon so it...
  17. Surely your 'premium' is actually being granted...

    Surely your 'premium' is actually being granted an extended lease, just like your fellow freeholder but he's paying all the legal costs. Those legal costs, paid by him, will be several hundreds or...
  18. Replies
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    I suggest you get specialist enfranchisement...

    I suggest you get specialist enfranchisement legal advice ASAP as the counter notice is very important to your situation.

    There are several specialist legal firms, eg Brethertons, who have a good...
  19. Replies
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    Not so. Enfranchisement of the freehold needs 50%...

    Not so. Enfranchisement of the freehold needs 50% of the flats in a building to participate. The freehold may include other blocks but these are not involved in the single block enfranchisement....
  20. Replies
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    Owning a share in the freehold owning company is...

    Owning a share in the freehold owning company is only one part of taking control, you need to take over the management too by using the right to manage by invoking a Right to Manage Company (RMC)...
  21. If they want to sell and the lease is short they...

    If they want to sell and the lease is short they will have difficulty selling as any new mortgage company won't want to lend against a short lease. Presumably the freehold is actually held by a...
  22. Thread: Holiday Letting

    by Tipper
    Replies
    4
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    233

    Holiday letting may apparently generate an...

    Holiday letting may apparently generate an impressive income but typically you'll be lucky to get 40-60% net profit! Don't forget you're paying ALL the running costs and letting agent/website fees...
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    Ask them to show you where in the lease it says...

    Ask them to show you where in the lease it says they need to approve your subletting and can charge you for it too.

    If it's not in the lease then you don't have to do it!
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    Without professional advice you are courting...

    Without professional advice you are courting disaster with this project. You need expertise to succeed.
  25. I can't offer any specific advice, sorry, but...

    I can't offer any specific advice, sorry, but it's typical of the council's right hand not knowing what the left hand is doing!

    We have a similar but different situation locally.

    PP was...
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