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Found 4 results

  1. Hello, Very curious to know and understand if Shareholders agreement can protect one in case one of the shareholders divorces or any other circumstances that would try to force sell. How would one put it? For example; "in case of divorce, shareholder will be bought out of the company at 1 £ and would be paid rest of share upon revaluation or sale" Any help highly appreciated.
  2. Hi Everyone I was just wanting to know what Scottish Landlords thought of the new Private Residential Tenancy Agreement ("PRT") and the associated new rules brought in by the Private Housing (Tenancies) (Scotland) Act 2016, which are due to come into force for the 01 December 2017?The PRT will replace AST and ATs. Has anyone thought about the issues associated with the new rules and anyway to get round them to make them more favourable to Landlords? I have been thinking about these and noted the below issues: 1. Removal of the no fault eviction Unlike our English neighbours Scottish landlords will no longer be able to use the no fault eviction (section 33, Section 21 in England) to remove Tenants on an AST outside of the fixed period. Instead they will have to use one of the 18 mandatory or discretionary grounds which can be used any time during the tenancy. My major worry with this is that the Tenant must be in at least three months of arrears for you to be able to issue a repossession notice under ground 17. The notice must give at least 28 days notice (plus 2 days for them to reasonabley receive it) and if the tenant does not leave the property after this point you must go to a tribunal. From my calculations (correct me if i am wrong) it seems the time before we can apply for a tribunal hearing has increased by 2 months (if you were to issue a section 36 as soon as the tenant missed payment). This seems very unfair given the other risks already being taken by Landlords. Also, if the tenant does not owe more than one months rent by the tribunal date (repays day before) the grounds for repossession are discretionary... This could cause a lot of work and legal fees for a Landlord for the Tenant for a repossession/eviction order not to be granted. The Tenant could then start the process of not paying all over again. I will update with my other issues tomorrow, but in summary they are: -No minimum tenancy length (Tenants will just say they want to stay for a long time then give their 28 days notice the next day) e.g. I can see this being an issue during any major event e.g. In Edinburgh- Fringe Festival period, Hogmany, summer months. Also students will only sign up for a 8 month lease, leading to more void costs and tenant finders fees. -Rent caps for areas where rents are rising too much. Guaranteed to be in Edinburgh. Also i am sure councils will use this to cover up their own ineptness of not providing a sufficient amount of social housing. -Outside of the first 6 months Tenants can still give 28 days notice while Landlords have to give 84 days and use one of the grounds for repossession! Will check in tomorrow. Sam
  3. Hi, does anyone have any experience with 'rent to buy' or lease options? I would just like some advice/information on them please Thanks
  4. Hi Hubbers, This is probably an obvious question, but I'm going to go ahead and ask anyway... I plan on purchasing a BTL property via a Limited Company early next year. I'm just wondering when it comes to signing agreements/contracts with third parties (e.g. tenancy agreements, insurance agreements, letting agency agreements etc)- would it be myself or the limited company that is named on the paperwork? Really appreciate your help! Thanks, Anthony
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