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Found 18 results

  1. So I'm purchasing a leasehold flat in Liverpool and the ground rent is £300. I was unexpectedly notified by my solicitor that because the amount is over £250 (£1,000 in London), then the lease falls within the Housing Act 1988 and will be legally classified as an AST. The term however is 250yrs. My solicitor advised that because of this AST classification, the lease is not CML (Council of Mortgage Lenders) compliant- and 'many high street lenders are not willing to grant mortgages on such leases'. This has gotten me particularly nervous as I'm due to exchange next wee
  2. Hi, would appreciate anyone's views on giving out a 4 month AST and how that stands legally? I am in a position whereby i may need to offer my BTL property for rent on a 4 month agreement, but im very conscious that the minimum has always been 6 (as far as i know), so does a lesser period i.e. 4 months change the legalities of the agreement in anyway? Be great to get peoples thoughts as to the pro's and cons on such a short AST? Many Thanks
  3. Hi all. Can anyone please give some examples of what should be included in an AST tenancy agreement? Many Thanks! Charlie
  4. Hi Hubbers, Has anyone else come across this ground rents over £250pa AST issue? I have had several city centre apartment investments in Birmingham rejected by our solicitors recently because the ground rents were either above £250, or there were provisions in the leases meaning future increases (often doubling or RPI linked) could potentially lead to them rising over £250. The explanation is: "Leases which have ground rent above £1000 in London or £250 outside of London are currently classed as an “assured tenancy” under the Housing Act 1988. This means that the Landlord c
  5. Hi All, An avid follower of the podcast but first post on the forum so excuse me if this is too green. I have a current situation, bullet-pointed below, where I have been asked to list one person on the AST as a permitted Occupier (as they failed referencing/have no income currently). I am hearing alot of conflicting advice about this so wondered if anyone has had experience or got any advice. Situation Summary 2 tenants 1st passed referencing but only to cover 50% of the rent on her own. 2nd tenant did not pass referencing as referencing company
  6. Hi, We have just taken the leap into a HMO, we have advertised through spare rooms and had a contractor get in touch who are doing some work in the local area, they wanted to let all the rooms for 8-10 weeks and I have a few questions I'm hoping some more experienced HMO landlords can help with. Would you consider this short term tenancy? What referencing would you carry out, with it being short term would you do less? Would you still use a AST and would you include any additional clauses etc? Would you take deposits? Thanks in Advance.
  7. Hi All, Just a quick query I hope you can help me with. I am considering moving all renewing ASTs to the electronic platform (Hello sign) recommended in the free course. Having always been old school and completed this by hand/post with witness signatures I am unsure of the legalities of my potential move. Are electronic ASTs legally binding, what would happen if they disputed it and what is your view on the need for witnesses...are they required? Any help would be great!
  8. I have tenants moving in on a 12 month tenancy and I asked for a break clause to be put in. Would you please kindly review the break clause that has been included in the AST to see if it’s water tight enough? Their tenancy will start today, 2nd Feb 18. “The Landlord and Tenant agree that after 6 months of tenancy, on the 2ndAugust 2018, notice can be given by either party to end the tenancy. The Landlord is required to give 2 months notice and The Tenant is required to give 1 months notice. This notice must be served on the date of the 2nd August 2018; should notice n
  9. Hi, longtime lurker, first-time poster here! I hope someone on here will be able to give me an answer to a quick question.. I have an AST with a tenant that expires next month. For a couple different reasons, I'm considering letting the contract roll on for a few months (up to 6) and then asking her to sign a new AST (with a small rent rise) in the new year. The new contract will start on a date that is preferable to me so I benefit in that regard. The tenant is currently going through a bad time and doesn't want to sign a new contract at the moment. So th
  10. Hi all, I have a flat which I've just bought and found tenants for. I need an AST agreement for them to sign. Does anyone have, or can direct me towards a comprehensive AST that will suit? It's a regular "single let" property, where the tenants are two friends. I also need an AST suitable for a HMO that I'm currently refurbishing, where the rooms will be let individually and all bills will be included. Again, if one one can refer me to a suitable agreement, that would be much appreciated. Thanks in advance, Rak.
  11. I send AST(Assured Shorthold Tenancy) digitally signed with Adobe from my laptop. The tenant has digitally signed and returned it too. Is this good enough for legal purposes? What about witness? Has anyone had experience with this? Does anyone follow this ? Thanks for your advice
  12. Hello all, I am ready to move away from my filling cabinet and onto the cloud. I've not used Evernote or Onenote yet so this is a fresh start. Rob Dix said he was eventually going to move to Onenote... I would like your thoughts and experience of both systems. If anyone is using one note or Evernote what are the benefits to one or the other for a property business. What is the thing that OneNote does that makes it the better tool??? Rob I've message you separately on linked in but if you are able to let me know your thoughts/advice that would be great. Soon I will be getting s
  13. Hi All, I really need some advice. I've never gone down the multi-let route before but now want to turn a 2 bed house into a living room and bedroom for 1 tenant upstairs and a room, plus conservatory and exclusive garden access for 1 tenant downstairs. This will allow me to increase my rent by £600-700 pcm. My issues are: 1. I know that I need a specific type of AST for this and I have a great 'joint and several' one, but it cannot be used for this purpose. Does anyone know of a solid AST for tenancies for individual rooms please? 2. If I go down this route instead of having a
  14. Hi all. Sorry for the length of this and thanks in advance for reading - please excuse the grammer/spelling, I am writing this on my phone. I recently purchased a property at auction that was already tenanted. The legal pack contained an AST for 12 months from April 2015 with the tenants name and landlords names blanked out (a common occurrence in auction sales I am led to believe). I wanted to purchase the property due to it already being tenanted and yielding an income. When I viewed the property prior to auction I knocked on the door to view and it seemed the tenants weren't in. I proc
  15. Hi there, I read something recently that suggested you don't need to renew an Assured Shorthold Tenancy (AST) agreement when the period expires. I have always renewed the AST for three reasons. Firstly, it gives me the reassurance the tenant is staying for another 12 months, secondly I didn't think the various legal clauses would be valid once the tenancy agreement expired. So for example, clauses around how to upkeep the house would be invalid? Thirdly, doesn't this give the tenant reassurance their deposit has been secured for a further period? If this is not the case I would
  16. I have recently purchased my first hmo property. It was fully tenanted when I took it over. One of the rooms has become vacant and I need to prepare the tenancy agreement. Can I use the NLA tenancy agreement that they provide to their members? Or do I need to have a HMO specific agreement? I think I saw a hmo agreement available online to purchase. I would really appreciate advice on this. Also are there any inventory apps with photos that anyone could recommend? Thanks Roxane
  17. Hi, I am looking for a bit of advice on who is responsible for the utility bills as follows; 1st July rental payment received from tenant. 21st July tenant gave notice to leave (Original 6 month AST rolled over to a periodic tenancy with payments made on the 1st of the month). 21st July After reminding the tenant a one month notice is required, they agreed to pay it using their deposit. 30th July tenant move out and handed over the keys. 31st Aug End of full one month notice period (?) Is the tenant responsible for the utility and council tax bills up to the date they moved ou
  18. Hi Property Hub members……. I’m after a bit of advice with reference to Deposit Compliance I used the My/Deposits system to protect the tenants deposit and when complying with the landlords legal obligations defined in (g) (vi) Order 2007 to: “outline the circumstances in which all or part of the tenancy deposit may be retained”. (I attach the Prescribed Information Order for reference) My thoughts were to make reference to the clause in the AST which outlines why the deposit was taken, (see attached "Doc2) but not sure if this is right or if a more elegant solution is available….
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