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01

Mar, 2015

Sunday

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  1. Replies
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    444

    A hotel room investment has every characteristic...

    A hotel room investment has every characteristic which you DON'T want from a property investment: no leverage available, no real secondary market, no alternative uses for the property, lots of people...
  2. otretv, and others: I find that student...

    otretv, and others:

    I find that student tenants often tend to reflect the quality of the accommodation which is provided. If the house is shabby, they'll be complete slobs and make it even...
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    I've just watched it on iPlayer (it's London...

    I've just watched it on iPlayer (it's London region by the way).

    It showed one landlady who was evicting her tenants as they'd been erratic paying their rent right from the start. She admitted she...
  4. An architect or interior designer won't...

    An architect or interior designer won't necessarily offer a project management service. In fact I'd find it hard to imagine most architects and interior designers doing the nitty gritty of project...
  5. You've hit the nail on the head. That's the big...

    You've hit the nail on the head. That's the big "if".

    I will be employing a letting agent to project manage major works on one of my properties this summer due to the fact that it's 120 miles from...
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    1,277

    Standing orders do actually leave my bank account...

    Standing orders do actually leave my bank account at weekends (and, I think but am not sure, show up in the recipient's account too) but the transaction is dated on my bank statements as the...
  7. And to think that half of my tenants would call...

    And to think that half of my tenants would call me out to change a lightbulb....

    To be honest this sounds dreadful but I don't have anything to add to the advice given above.
  8. philc27, Do you think you're ever likely to...

    philc27,

    Do you think you're ever likely to have two of the rooms vacant for an extended period of time? If not, I'd stop worrying about it if I were you.
  9. How "with it" is your landlord in terms of...

    How "with it" is your landlord in terms of knowing about letting property?

    The reason why I ask is because some landlords are ignorant of the concept of statutory periodic tenancies (or "rolling...
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    I am not aware of any official procedure for this...

    I am not aware of any official procedure for this -- I'd just tell them when completion takes place and give them their new landlord's details.
  11. Three tenants is still potentially HMO. I think...

    Three tenants is still potentially HMO. I think you mean if the no of occupants slips to two.

    Answer -- theoretically yes, I think, but if the other two rooms are only temporarily empty and are...
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    claire x, In what sense do you "smell a rat"?...

    claire x,

    In what sense do you "smell a rat"? On the bank accounts point, I'd suspect that it's just different departments of your employer not talking to each other, or an overzealous...
  13. If he (like most people) gets paid at the end of...

    If he (like most people) gets paid at the end of the month, why don't you get him to give you an interim payment on 21st January which takes them up to 1 February, and then make the 1st of the month...
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    Thanks for the reply. I think that taking that...

    Thanks for the reply. I think that taking that approach would be much easier than deducting multiple amortisation sums for each mortgage every year.
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    Yes, I have been dutifully amortising some...

    Yes, I have been dutifully amortising some initial mortgage costs over a notional 10 year term, knowing full well all along that I intended to remortgage after the 2-year fix. This'll presumably mean...
  16. Thanks both. I'll treat these as revenue. ...

    Thanks both. I'll treat these as revenue.



    An interesting thought, but it seems that there is sufficient logic to the idea of treating them as revenue for it to be a tenable decision. My...
  17. Bear in mind that if you have more than two...

    Bear in mind that if you have more than two lodgers your house will become an HMO. You are lucky in that I don't think that Cambridge City Council has implemented either an Article 4 direction or any...
  18. I've just had another think about this. As...

    I've just had another think about this.

    As explained by jpkeates and King Maker, it seems clear that the capital costs (such as solicitor's fees) on abortive transactions will never be tax...
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    Ditto. I always amortise mine, although it's such...

    Ditto. I always amortise mine, although it's such a pain doing the maths that I do sometimes wonder whether HMRC would really be all that cross if I just deducted them straight off....
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    I get the impression that you want to cancel your...

    I get the impression that you want to cancel your tenancy agreement for extraneous reasons, but are just looking for a landlord breach as an excuse for doing so? Although I don't condone your...
  21. I have often wondered whether there could be a...

    I have often wondered whether there could be a tenable argument that these costs could be considered capital costs against whatever property is, eventually, purchased in place of the aborted...
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    I'm confused about this bit. If the mortgage is...

    I'm confused about this bit. If the mortgage is in your name, surely the lender would complain to you with reminders as soon as payments were missed? Also, by what mechanism does/did your...
  23. Thread: Dilemma

    by JamesHopeful
    Replies
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    706

    I still don't see why you felt the need to...

    I still don't see why you felt the need to remortgage to an owner-occupier mortgage (aside from the fact that you perhaps got a better rate) but never mind.

    I do see that a pressing concern such...
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    He will need to (i) serve prescribed information...

    He will need to (i) serve prescribed information and (ii) serve a valid Section 21 notice (in that order). Looks like he hasn't done either thing.
  25. Thread: Dilemma

    by JamesHopeful
    Replies
    8
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    706

    Not the most festive reply given the date, but...

    Not the most festive reply given the date, but there are a couple of things which strike me as odd about this situation which it might be helpful if you clear up, although I think there is a fairly...
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