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About sovietsong

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  1. Thank you both for your informative responses - both concluding the same. I’m not sure how the lender would ever find out. In case my brother was unable to pay the rent, I would cover the interest only payment - as I do with the current tenants. I will now have to come up with an alternative idea. Thanks again.
  2. Key info: 1 property landlord, currently let to tenants, LTV 45%, current 5 year fix ends in 2023. My brother wants to let my property. Under COVID guidelines, I have to give the current tenants 6 months notice. I haven’t contacted my lender Virgin Money as under the terms you cannot let to family and I don’t want to spook them. Do I let to my brother and carry on as normal? Change to a regulated BTL mortgage (incurring fees)? Change to a residential mortgage (again incurring fees)? Many thanks in advance.
  3. Hi Rogerh out of interest, what ftse 100/250 stocks did you go for?
  4. Thanks for being brutal. It is my first experience of a checkout. The Tenant was in breach of the signed AST, by keeping a dog without permission, does this breach count towards anything? Does the Tenant get to dictate how much they are prepared to offer?
  5. Tenant has checked out and disputes all claims regarding Deposit. I have a professional Inventory that is dated but not signed by the Tenant. The Tenant kept a dog at the property without consent. The lounge carpet smells and needs to be professionally cleaned or replaced. The Tenant is only willing to contribute £50. The garden was not maintained, he is only willing to contribute £50. This would not cover the cost to weed, trim and tidy up the garden. the tenant removed a fitted desk from the box room, with permission, and now the paintwork looks bad as you can see the pr
  6. I have paid approx £160 in fees and made a loss of approx £600 on the Stock Market. Can I claim Tax relief on Shares? If so, how?
  7. Thank you both for the extensive advice. i only got a reply after contacting the Director of the company. When he looked into the matter, he claims that the girls already had the query in hand. In other words, they were going to action the rent increase but nobody bothered to let me know. i agree with shakshuka, what else is being missed? I know that Gas Safety inspections are done late. I’m tired of letting agents as I’ve already switched once.
  8. I have a tenant at my property for over 3 years. i am currently charging £675pcm, the market rate is around £750 for similar properties in the area. I want to charge £695 which I think is fair. The properety is is managed by an Agency, I sent an email making this request on Monday. i’ve had No response thus far. After how many working days is this considered unprofessional practice? Does anyone have any advice on how to increase rent? Thanks in advance
  9. I currently use a ‘full management’ letting agency to look after my property. in my second year, the Agency forgot to book/conduct a Gas Safety inspection. so I changed letting agents. The new agent, conducted the inspection late (after the renewal date). The next Gas inspection is due by the end of the month. If it is not conducted in time... then what are my options? Is normal for Agents to not conduct inspections in good time, I have already changed Agents once. Does anyone have any similar experience with Agencies? Thanks
  10. Thanks Tim for this thorough response. I agree, the Agency should be notifying/updating me on the situation. I shouldn't have to chase this up every time. The rent is paid on time, however in this instance, it has been 7 months and I have not heard anything about the condition of the property. The Agents are taking a "Full Management" fee and therefore I think it is reasonable to get an Inspection at least every 6 months. As this is not happening, I am concerned that they collect the "Full" rate but in return I only receive: Rent collection Gas safety
  11. Thanks Barny, this was very useful. The AST states: "The Landlord has the right to enter the Property by giving the tenant no less than 24 hours notice for the following purposes: 9.1.1 to inspect condition and state of repair of the Property and, to confirm the performance by the Tenant of the Tenant's obligations under this Tenancy." According to the 'Status Disclosure and Terms of Engagement' document from the Agency, it states: "As part of the 'Letting and Full Management' service: (we will) conduct property visits/inspections every 3 months (where po
  12. In my area, it is standard for Agents to conduct inspections every 3-4 months. In any case, my inspection is 6 months overdue! Just wondered if anyone on the Forum had any experience with 'Full Management' Service?
  13. I changed Letting Agents over 12 months ago as Inspections and Gas Safety was not being done on time. With the new Agency, as part of their 'Full Management' service they are supposed to conduct an inspection every 4 months (3 times a year). In the last year, I have only had 2 inspection Reports. The next inspection is 2 months overdue. It was overdue last time, when I challenged them about this - they claimed that it very difficult to schedule an Inspection with the tenant, before 5pm, as he works shifts. Should I be chasing up Agents, with "Full Management" service, e
  14. Thanks to all for your advice. I will be investing in a UV light. Since I posted this topic, I have changed letting agencies. On another note, my Gas safety inspection was due on or before 22 Oct 2016, I contacted my agency for a copy of my new Gas certificate - and it is signed/dated 2nd Nov 2016. Should I make an issue about this? Or is it common practice? Thanks
  15. After the news of Osborne's Tax increase, which is to be phased in from 2017, the big question: Is it still worth investing in BtL property? http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11816720/Death-of-buy-to-let-landlords-wake-up-to-Osbornes-150pc-tax.html
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