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CamillaJ

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  1. Hello! I'm wondering if anyone can offer some advice. I am looking to rent out my flat to a potential tenant on a short term basis. I found the tenant on OpenRent. They are US citizens but living in the UK. I am completing the reference process at the moment. I am expecting to move back into the apartment in approx 8 months time. I had originally suggested that the tenant lets me know the dates they expect to move in/out and we can put those in the contract or if they prefer we do a 6 month AST with a rolling monthly contract thereafter. The tenant has since explained that they are looking for something potentially short term as they might be moving back to the US after 3 months or so but 'its up in the air.' He has said that he would prefer a 6 month lease with a 3 month breaking clause. I also want to protect myself here as I don't want to be in a situation whereby the tenant decides to stay and then when i give him notice to move out in several months time is unable to - we all know how difficult it can be to get tenants out if they are unable to find alternative accommodation. My husband and I will have a baby by then so we could do without that headache! Any suggestions on the best type of contract here ? I'm happy to do one for 3 months too but I need to make sure its all legal and correct. Advice very welcome!
  2. Very nice spreadsheet - did you develop that yourself or can you provide any links to it please ? Thanks
  3. Thanks both - very useful. Let me get the required answers to these questions and I can revert. Much appreciated.
  4. Hi I am based in an apartment block in London with around 30 flats. I am on the board of directors. We have a combination of leaseholders and I believe some flats own the freehold too. We wanted to enquire into taking out a large loan in order to complete some much needed building works. We would then figure out how much is needed to be paid back by each flat over as many years as possible. Does anyone know a company that specialises in loans of this nature please ? Thanks
  5. Very useful, thanks and yes I agree that speaking to them directly would be better and help me figure out what they need to get through this. Very useful links as well to point out to them for where they can get help in their situation. We all need to do what we can to help each other through this!
  6. Hello looking for some advice. I have a flat in London rented to a couple. The tenant contacted me today regarding his partner being made redundant and asked if there was something that I could do on rent. I don’t have a mortgage on the property. I wanted to ask what people are doing in this situation ? The current rent is 1700pcm. I was contemplating offering them a ‘rent holiday’ so that they pay 14000pcm instead for 3 months. Once the tenants partner finds another role it can return to the 1700pcm. They would then have 6 months to top up the rental payments to make up the £900 they missed. I’m not sure if this is going to help enough and what other landlords are offering! Bit lost here so any other ideas are very welcome. Thanks very much!
  7. Hello does anyone have a personal recommendation for someone who can offer some legal advice who is a specialist in property law please ? It is with regards to moving a property from a personal name into a new limited company and whether or not this would have to be a 'sale' per se or if a transfer or sorts can be done ? etc. Personal recommendations always the best! Thanks
  8. Hello! I've never used a property sourcing company i was wondering if someone could give me some info on how to find them, work with them and figure out what the usual fees involved are ? I am interested in sourcing property in Leeds and potentially Liverpool and Glasgow. Any help is much appreciated. Thanks!
  9. Hi Gary - the areas on my target list are: Manchester, Liverpool, Leeds, Newcastle and Glasgow. I'm currently researching into these areas to see what makes most sense from a BTL investment perspective! Good luck on your journey.
  10. Thanks for the advice. Will check for local specialists. Worth noting that i think the rates on Molo Finance looks the most competitive from what ive seen so far! Thanks
  11. Hello, I would like to start building up my portfolio of rental properties in an SPV format. I am keen to start contacting mortgage advisers to look for the best limited company BTL mortgage rates. Does anyone recommend a good mortgage advisor with experience of helping a newbie get into the market ? Thanks Camilla
  12. Really useful posts, thanks! Just to be clear if the only property you have ever owned has been rented out ie you’ve never lived in it - does this mean I still qualify for first time buyers status ? Thanks
  13. Hello I would like to change the name on my property deeds from my individual name to my new company name (SVP.) I have spoken to my accountant about the tax related concerns which he is arranging (re capital gains etc.) The next step is to transfer the name of the deeds. I do not have a mortgage on the property. Can anyone recommend a lawyer who can do this for a reasonable fee ? Thanks
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