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Found 16 results

  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. Hi, I am almost towards my deposit goals to apply for a mortgage for a house. I would like to read /know the full terms and conditions before I apply for a mortgage, in England. Can anyone provide further details on this? Is there a sample/template/webpage which lists all the terms and conditions that must be included in the contract? Many thanks, Ije
  3. Hiya, I’ve secured some investment from a family member, but need a legal agreement drawn up. I’ve approached conveyancing solicitors I’ve used in the past, but no response yet. I was wondering if any one on here had any recommendations for a good solicitor that they’ve used for something similar? please let me know! Thank you!
  4. Hi, My tenants are coming to the end of their 6 month contract in my house and stated that they would like to sign a new 12 month contract or anktger 6 month contract, rather than remaining on a rolling/month to month agreement. They have reported to the estate agents that they are very settled and would like the security of a longer contract. What are the advantages and disadvantages, from my point of view, in offering them a fixed term contract rather than keeping them on a rolling contract? I have no plans to replace them, nor have I plans to up their rent in the next 12 months but, from my understanding, if problems arise (not paying rent) it will be easier for me to evict them in a monthly contract. Surely there are fees involved in writing up a contract? If security is the only thing the require maybe I could just reassure the Tennant's of my plans of no change? Thanks in advance Paul
  5. Hi guys, Can anyone recommend any solicitors that understand/ specialise in Lease Option Agreements? Not particularly precious on where they're based. Thanks in advance
  6. Hi all After a few refurbs / flips I'm finally buying my first btl. I just wondered if anyone had a checklist or a list of 'essentials' or 'better to haves' to check off that would be wise to have in place before getting a tenant in. For example; Landlord insurance Tenancy agreement / contract Maintenance agreement (with a plumber / electrician for emergencies etc) etc I've got a good idea of what I need but if someone comes up with that one thing I haven't thought of or just some relevant advice in general it could save me a lot of pain down the line. Any advice is much appreciated. Thanks Ross
  7. 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 not be served on this day the tenancy will continue as per the term of one year less a day.” Many thanks! Jordan
  8. Hello, I currently have some tenants who are on a short assured tenancy agreement that has been on a rolling month to month agreement for at least six months, if not a year. I heard about the PRT's that are being introduced and had thought about trying to move my tenants on to it as I missed a few vital documents when the original tenancy was set up. I thought that if I started the new PRT I could issue those documents when this contract begins. Does anyone have any thoughts on this and what information do I need to give the tenants in advance of issuing the PRT? I phoned the Scottish Government - Housing and Social Justice help line but the guy wasnt much help he said just to issue the documents now and leave them on the current rolling contract but I am worried as the TIP mentions it should be issued before they sign their tenant agreement and I don't know if that might come back to bite me. Any help would be much appreciated Thanks
  9. Hi, does anyone have any experience with 'rent to buy' or lease options? I would just like some advice/information on them please Thanks
  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'm about to embark on a build project & it's been suggested the builders work under a JCT - joint contract tribunal documentation. Anyone had any thoughts / recommendations / advice?
  12. 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
  13. Hi, We just moved to London from abroad and started renting an apartment through an agency. We have had so many issues with the landlady messing us about but won't bore you with the details of most of them since they have been sorted out, even if not entirely to my satisfaction. But there are a couple of things that we would like some advice with: 1. When we paid the holding deposit, the agreement for that stated that the flat would be professionally cleaned. We then signed the main agreement (contract), which did not mention explicitly about professional cleaning, and paid deposit and first months rent in full. However when we arrived, the place had not been professionally cleaned (mold on window sills, grime on top of kitchen cabinets, dust from drilling holes still behind the sofa etc). It took two of us 6 hrs to clean the place from top to bottom. Do we have any grounds for withholding a portion of the rent to compensate for it not getting cleaned? We got a quote from a company to state that it would cost £15/hr for professional cleaning. We were thinking of withholding about £90 which is about what that would be worth. Or should we just suck it up and leave the place in a similar state when we leave? 2. Secondly, and probably most importantly we have been locked into a 24mth contract with 18mth break clause. But I have heard this is illegal and that we should be allowed to break at 6 mths - does anyone know if this is true? If so, what can we do about it? 3. Related to this, we were told and have it in writing (not in contract but in an email from the letting agent) that we could have our 2 cats in the flat. We have since found our that the management company for the apartments doesn't allow pets. Is this grounds for us being able to break our side of the contract early without losing money since we were essentially lied to? Thanks - would really appreciate any advice or help
  14. Hi Everyone The aim of this post is to find out more about legal contracts for building work. I understand the principle of contractually binding a builder to a time frame, overall cost and quality of workmanship, but practically how should this be approached? Are bonuses and penalties worth while tools? Is the general opinion that the cost of forming these legal agreements and the time involved makes them unviable? Also at what stage do you mention to a potential future contractor that you want this security without scaring them off, appearing to be jumping the gun or offending them? Should you be asking every tradesman you engage to be signing paperwork? Also how enforceable would a contract be in the event of a breach? Any advice connected to this topic would be greatly appreciated, apologies for the thousand questions Many thanks, J
  15. Hi all, I have a friend who I've been helping with doing up his first BTL and he has said he would be happy for me to manage it/get tenants in etc. The only experience I've had of doing this is for my dad where obviously there has been no contract/agreement between me and my dad so I marketed his property and was with him whilst we vetted tenants etc. How would I go about doing this for a friend and would It be best to charge a percentage of the rent or a certain amount every month? All advice from basics to more advanced info is welcome as I would like to do this properly and provide a good/fair service for my friend. Thanks Lisa
  16. Guest

    Selling a New Build

    Hi All, This is my first post to the site, but I have been following for quite a few months now. There are some brilliant advice and tips I have taken from here in such a small time! I am very new to the property industry, but I am becoming highly interested in the industry and hope for it to be a big part of my life going forward. I am currently living in Europe (on a two year secondment), but my contract is coming to an end. I am planning to move back to the North of England and start investing in property at the beginning of 2016 and hope to have between £25 and £30K by this time. I do want to invest in BTL property and build quite a large portfolio, but I would prefer to increase my capital at the outset so that I can grow the portfolio quite quickly. I have been speaking with quite a few people that I know who work in the building trade and an idea has been floated by me..........Purchasing a plot from a large construction company in a sought after area, holding onto for 6 months whilst the new house / apartment is being built and then selling the contract on for a profit. To do this, I would need to be involved heavily in the decisions for the new build (which I understand there can be quite a number of different options) and I would need to make sure I have a mortgage secured in case I can't sell the property soon enough. There will be the usual risks with this.......whether we can find a buyer and whether the price of the contract will increase in 6 months time.......but does anyone else know of any other potential issues? Is this type of deal frowned upon by the construction companies? If I did sell and cancel the mortgage, would the bank be difficult / reluctant to provide me with a mortgage in future? (Possibly, I could find another property for the bank to mortgage when I have a purchase offer, but they would likely have to start the whole process again). I look forward to hearing your thoughts on this. Many thanks, Alex
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