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dil rai

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Everything posted by dil rai

  1. cheers Caroline - this approach is being tried currently. good to know there are ways of undoing the scheming ways of an underhand agent.
  2. Hi All, I hope you are all well, I have a scenario which I need opinions and expert advice on. · House almost purchased (value 800/900k – residential home not BTL) · 5 days before completion buyer received call from solicitor saying ‘the seller has pulled out’ no reason given · Buyer called Estate agent immediately who said ‘we contacted your solicitor to get an update and gave them 3 days to reply with an update of progress if no reply received seller will pull out’ apparently no reply received so seller pulled out
  3. Hi, Does anyone have a lodger agreement template they can forward to me or provide a link of where i can get one? Also if taking a deposit from a lodger should it go in the deposit scheme like you have to do with tenants deposits? Thanks
  4. thanks for your reply tim. i chased (asked the missus to chase) the estate agents. just hit them with their responsibility of shouldnt have sold a house without an EPC quite sternly. gave them the option of getting it done for me now or face a complaint to the estate agent body. they accepted they will get the EPCs done. result.
  5. this govt seems to be on its last legs as it is with the goings on of the last couple of weeks plus lack of brexit progress god knows what scandal is around the corner.
  6. Cost is obviously a consideration here, however I don’t want to cheap out totally as I want to give a good service to tenants and also want the carpet to last. They have requested wood/laminate in the hallway. I have been looking at onlinecarpets.com, but do not have any idea on how much I should be spending to get the ‘half decent quality but reasonable’ aim met. Also same question for underlay. Any advice?
  7. I personally never bought into the northern powerhouse idea. Yes with the investment in the area prices of property would rise but when really looked into it the figures aren't high enough. The projected rise (I think) was 25% over 5 yrs. So buy a place now for 100k and in 5 yrs its work 125k. I dont think that is enough in property, needs to be hitting 150k really. Further the monthly rental profit after taking out all of the costs including managing agent (10-12%) leaves about £150ish on average last time i checked. That's not enough either. Tieing up 3
  8. Craig - where abouts are you based? If near Essex can you please share the EPC contact?
  9. Thanks for that link - my properties do not appear - i searched using postcode. Is this a failing by the solicitors who i completed the purchase through? should they have not ensured this was include in the sale?
  10. Hi All further to the original query, my properties were purchased within the last 3 years.All properties require an EPC for sale - correct? I cant seem to find mine in my paperwork, at which stage should they have been given to me?
  11. Good work Sarah. I was going to say get the advert written and do every single little thing you can, have AST agreements printed, I usually hand out a single A4 sheet giving all details of the property/rent/deposit etc, it also includes a checklist of all documents i require - get all these printed. (People who provide the most paperwork make it to the top of my pile of potentials) Also in your advert ask people to bring the required documents with them - those that do are organised and will hopefully be better payers. Can still do block viewings, if its that hard to ge
  12. Hi Sarah j, it is a bit trickier to let just before Christmas but not impossible by no means. The way things are someone somewhere is always in a pickle - you are in a pickle because you need to rent out the place. Someone else will be in a pickle looking for a place and will be thinking there is nothing available at this time of year. I've let out close to Christmas before. Just don't panic and give to the first person just to get it rented. Could end up with a bad tenant - so still be picky. Worst case scenario keep it empty until you find the right person. With regar
  13. Hi, My personal opinion is 5yr fix during these uncertain times. I think ultimately depends on how much more the deal is pm compared to the 2 yr fix.
  14. Thanks for your reply Daniel, my query was specifically more around my own properties. Can I/Should I set up a lettings agency to manage my own properties only? Would this be a way to be tax efficient?
  15. Would EPC certs have come with the property when you purchase them? mine were bought from owner occupiers and not landlords. i will be checking the paperwork when i get home but wanted some background. also if you do an EPC assessment and it is below the required level is it standard practice for the assessor to do the next assessment for free or is it usually chargeable again? lastly its mentioned in one of the posts above you need to get a new EPC cert each time you change tenant - this seems ridiculous. if the EPC rating of C of is granted
  16. One of Corbyns key vote winners is the rent controls he wants to bring in. I was wondering what this will actually look like – does anyone know if it is going to be ‘You cannot rent a 2 bedroom house for more than X amount in Y area’? Also I read somewhere he wants to bring rent controls back meaning that such controls used to exist – did they? If so what did they look like?
  17. Hi All, i have always thought about this - was mentioned during a chat once somewhere (probably a pub...) Would this work? If so would negate the need to put into property into a company name and pay the related stamp duty. Also would allow you to benefit from managing the income in a company set up and take advantage the associated benefits of a company structure I am sure it isn’t as straight forward as that as if it was others would be doing it now but want to learn why not. Thanks Dil
  18. londoner - what is your definition of booming? capital appreciation? my aim has always been to make good money monthly from rentals and capital appreciation is a bonus. would you or anyone else suggest it is still a good idea to buy rentals for purpose of good monthly income through this period of wobble/downturn?
  19. Hi All, Thanks for all your replies and apologies for not replying sooner. I have sourced another in Paston - anyone local to there have an insight into this area? Houses in Peterborough dont sell as quick as I thought they may (maybe its just the ones i am looking at). This one is 125k, a lettings agent who has one rented out there has told me it gets 580pm i was hoping for more near 650... Is this possible to achieve for properties priced in the 125k region?
  20. Thanks Tim, You are correct re the licencing is pretty much what I would be doing anyway - i dont agree with making anyone live in a sub standard home, I believe we have a duty of care to our tenants and would not house them somewhere I wouldn't live myself. The part of the licencing which I am not comfortable is sections where you need to make sure the house is not over crowded etc there are a few other bits to. All can do is carry out the relevant inspections where they would move out the additional people who would be living there. I have had that before with a mons
  21. Hi All, Following my other thread 'Would you jump at the chance' i got talking to another forum member (shout out to barry) who informed me i need a Landlord Licence for the place i am buying due the area it is in requiring one - i had no idea it needed a licence! Just shows this forum and talking to other investors is invaluable! I now need to find out further info and am doing as much reading as i can, to help others what I have found out is below: 1. The property needs to be rented out for you to apply for the licence as the form asks for the tenancy agre
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