LandlordZONE

23

Oct, 2014

Thursday

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  1. Replies
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    ram, There was a void between tenancies so...

    ram,

    There was a void between tenancies so someone had to pay for the void so either the LA got the bill as he took charge of all the bills or the landlord.
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    If LA had looked at the interim bill, then surely...

    If LA had looked at the interim bill, then surely he would have noticed that there were meter readings on the water bill. The fact that the water company did not know that the previous tenant left...
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    Thank you again :(happy):

    Thank you again :(happy):
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    Yes currently we bill on quarter days, but it...

    Yes currently we bill on quarter days, but it would be preferable to bill a year in advance due to some non payers. So what to do this year to rectify the situation or should we wait until the AGM...
  5. You are going to have no money left after buying...

    You are going to have no money left after buying the freehold. Those leaseholders, who dont want to enfranchise or pay now for works, will not want to pay for works later, but now it will be your...
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    It actually specifies a date so we have missed...

    It actually specifies a date so we have missed this year.
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    Service charge billing

    For more than 15 years, we have been billed quarterly for SC. Recently we have discovered that the lease states the SC is to be paid annually. We presume that the directors made a decision when...
  8. Replies
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    Success at last. We have used the certified...

    Success at last. We have used the certified expenses from the annual accounts as those are correct. We have now done an income sheet for each year in question which shows total amounts demanded,...
  9. Replies
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    Ok simple enough to do as I have the income and...

    Ok simple enough to do as I have the income and expenditure analysis, but where does one show how much the leaseholder has paid and how much has gone into the reserve or do I make a separate page...
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    The accountants have never prepared service...

    The accountants have never prepared service charge accounts, only Company accounts which is what is being used and presented to the FTT. Hence my confusion in wanting to change the Company ...
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    I like that format. Will give it a try and see...

    I like that format. Will give it a try and see if he accepts it. Would the FTT accept this solution?
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    That is assuming you are dealing with a rational...

    That is assuming you are dealing with a rational leaseholder. We are not and he will not accept that the surplus is the reserve fund which has been spent on the exterior.

    At the AGM we do name...
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    We are starting to get a result by putting a lot...

    We are starting to get a result by putting a lot of pressure on the MA for their failings of not observing the lease.

    More questions:

    If the MA billed both the reserve and service charge under...
  14. Don't the meters belong to the utility company? I...

    Don't the meters belong to the utility company? I think they would have to move them but the price would be significant. If you wish to convert the garage, it would at your cost to move them.
  15. flatpackman, Lease extensions have got nothing...

    flatpackman,

    Lease extensions have got nothing to do with how the block looks. The leaseholders will have to extend their leases at some point and certainly if they want to sell as you cannot get...
  16. If the leaseholders don't have money to pay for...

    If the leaseholders don't have money to pay for the works, or worse refuse to pay, how are they going to pay for the purchase of the freehold? In your case I would avoid any "share of freehold"...
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    Final question, I hope Is it the MA...

    Final question, I hope

    Is it the MA responsibility to check the lease and make sure all demands and accounting are done in accordance with the lease? Are they in part accountable for the...
  18. 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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    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!
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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...
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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...
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    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...
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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.
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