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julia urquhart

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About julia urquhart

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  1. No - but it should get the market moving again
  2. I had tenant from an association like this once. It was fine until her thug boyfriend took his temper out of my Newell post, stairs and other fittings! No problem getting the money from the association but there is a risk with these tenants.
  3. I generally avoid leaseholds because of the lack of control over the additional expenses which come straight off the bottom line.
  4. Would you want to sleep in a room without a blind? Whilst it may not be a long wait I think the tenant is not being unreasonable. Can you do some sort of temporary fix?
  5. Can anyone recommend a general builder in Derby to remove a chimney breast and other minor works? Thabks
  6. Why do you think there will be a bust? Property is a long term investment and if capital values stagnate there is still rental income - so No I will not be selling just in case the market busts!
  7. All your buying expenses will be off-settable against any Capital Gain when you sell it so keep all your paperwork. These will include surveys & solicitor's costs. If you have to do a major refurb these costs will also be off-settable against CGT. If you just do a little repaint then you can probably putts against your letting costs. Bottom line is everything will be off-settable against income or capital gain but not both! Look on the HMRC website - they have quite a lot of good advice..
  8. Is there actual mould growing or just a smell? If it is just a smell it might be your drains - so use a drain cleaner or clean out your U-bends. If you have actual mould growing where is it? If it is on the paint work maybe ordinary emulsion has been used instead of bathroom paint so a repaint might help. If it is on grout / sealant clean it off with bleach & then make sure you don't leave standing water. It may also help to dry wet towels in another room so you are not putting extra moisture in the air. Good Luck
  9. I have just left Bulb! I was very happy with them until quite a big price rise made them expensive. I have switched to Igloo which will save me quite a bit I believe. The switch was easy & quick . If you fancy them they also have a referral program: https://refer.igloo.energy/juliau1090
  10. Nottingham is a great place! I bought here when my son started at the Uni & then we moved here too! Your kids could be quite useful in knowing which areas are no gos - some areas are very students (Lenton) some are post grad / professional (Beeston) some are cheap but grotty St Anne's! I think its best to identify several properties & arrange to see them all over a couple of days. Spend some time in the city and areas you are considering and visit agents to see what they recommend & chose one to work with if you plan to go that route. Remember to check what licensing schemes are in place (we have selective licensing in Nottingham). Finally - don't rush into buying the wrong property just to buy. It could be an expensive mistake. Good luck PS I'm selling a house in Beeston this summer when my daughter leaves Uni if you're interested!
  11. You will significantly reduce your profit if you have to pay accountancy fees! Pretty much anything that you have to pay out to keep your property rented - gas safety inspection, repairs, insurance - is offsettable against income. Domestic item replacement - think cooker, curtains etc are also offsettable against income. If you make improvements eg new bathroom, this is offsettable against capital gains in the future. The exception to common sense is the mortgage interest which is gradually being capped at 20%. I use TaxCalc to do my return and it pretty much leads you through the figures. There is also plenty of info on the HMRC site.
  12. I can’t see any reason why this should not be fine. They should have told their mortgage holder what they were doing and as long as they have agreed there is no reason why the house shouldn’t be rented out. i think you are worrying unnecessarily.
  13. I do use an agent - in fact several - and none of them charge for a rent review. If the tenant wants a new tenancy and the agent charges then the tenant needs to pay - not me! £120 to ‘renegotiate’ is extortionate - there is no renegotiation required, just a revamp & reissuing of the paperwork - Sounds like your agent is making up for lost fees here. I usually have a conversation with the agent about rent rises after the 11th rent payment of the year and we agree the rent rise. They can then issue the paperwork to the tenant before the 12th payment so that is at least a month’s notice of the rise. The tenant has to agree the rise - has never been a problem - and if I decide not to raise the rent they are told that too so that they come to expect a rent rise each year. I prefer to put the rent up a little each year rather than a lot now and again - most people get pay rises each year and everything else goes up each year - so it seems reasonable. Rent rises are based on current market rates and if a tenant stays a long time and is a good tenant they will be paying a bit under market rates. But since all my costs - insurance, maintenance etc - go up each year, so does the rent. Hope that helps :)
  14. Yes - its a 3 bed. Very often an HMO's value is based on the yield which makes it considerably higher than the same property as a family house. You need to decide whether you are prepared to pay the premium.