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  1. These new regulations carry some hefty fines and come in to force today - April 1st 2021 In short, All properties rented out will require an ECIR completed by a competent or qualified person to confirm the property is safe. This applies to new and existing tenancies. The fine for non compliance is £5000 rising to £30000 if landlords re -offend There are a few exemptions but don't expect them to apply Here's a video explanation Good luck out there Steve Walker www.PromiseMoney.co.uk
  2. Hi, I've been a lurker here for a little while - responded to a handful of posts but thought it was time to introduce myself. I bought my first property in the south-east back in 2007 for £150,500 - though I was working in finance (and still do!) I had no interest or real idea about property at the time though I did have a little cash and so wanted my own place. Obviously it was not the best time to buy but I had no idea about the market cycles or anything. However it's not been a bad purchase overall - more on that later. I lived there for 5 years, had a re
  3. I planned to move out of the property I own in 2019, but didn't move out and therefore rent out my flat until Jan 2020. I'm doing my self assessment for tax year 19/20, but was wondering if I can still claim for ERC incurred for changing my mortgage to a let-to-buy type mortgage (not sure it was exactly this as they knew I wasn't buying a new property - living with parents), even though I changed my mortgage in Feb 19 (before the tax year I'm submitting). Also are any of the other legal fees involved such as notice to leaseholder etc tax deductable. Many thanks!
  4. Hi All, I am new to this site and not even sure if this is the right forum but I could do with some help and advice if anyone wouldn't mind? My Mum was given notice on her flat back in October and her tenancy is due to end at the end of this week (28th November). The landlord is selling. However the new buyers of the flat would like my Mum to stay on as a tenant. Of course my Mum would like to stay in the property as she has been there for years but the sale of the flat has not gone through yet and the letting agent have not put anything in writing about her staying in the flat and s
  5. Hi all, A big topic for you today - if dangerous cladding is found on a block of apartments, who pays to fix it? One of the properties I own is a flat in a block with 100+ leaseholders. I can't divulge too much information because it is an ongoing legal case, however we are currently pursuing several avenues of legal proceedings in order to determine whose responsibility it is to pay for the potential 7 figure cost of replacing all of the cladding on the building. Will it be the leaseholders, who are supposed to be responsible for maintenance and repair of
  6. Hello everyone, This is my first post ever here so sorry if it's not correct in any way. i have signed an tenancy agreement with a tenant and they paid the deposit. Then a day later they said if they can delay the tenancy for a week then move in as they were having issues finding someone to rent their place... Now they don't want to move in a week later after their original move in date.. I have lost money and potential others tenants. Can I keep their deposit ? I have put this in their contract that If the tenant does not move in on the date stated then I will not be returnin
  7. 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 mont
  8. I own a couple of flats in Liverpool and an employee of the freeholder sent a group email to all landlords, unwittingly cc-ing everyone instead of blind copying. It has subsequently proven to be very useful to have an email group with all other landlords in the development as we can share information on communal works, ground rent/service charge issues, letting agents, void periods etc. Does anyone have similar experiences of having email groups for landlords/leaseholders? It would be great if I could organise similar groups for other investments I have. Can anyone advise on the bes
  9. Hi All! I am super keen to build out my small BTL portfolio in Leeds. I found a stunning new build of townhouses but the developers say they won't sell to BTL landlords - is there any way around this? If not, does anyone have some advice of new builds/areas in Leeds city centre where I should be looking? Ideally 2/3 bed, unqiue feature(s)? Thanks in advance Nick
  10. Hi all! I'm a landlord and have a great property manager, Fiona, up in Glasgow, but I've heard many complaints in the past about other property managers. It would be great to get some feedback from UK landlords on this group to see if there's anything that can be done to improve the experience. Thanks! Survey here: https://www.surveymonkey.co.uk/r/property_mgt
  11. Hi Everyone, I'm after some advice on whether I should increase the rent on one of my current properties: Background 3 Bed semi-detached bought back in 2011 on a 5 year fixed repayment mortgage Current rent £595 pcm I have one lady (and her two children) live there from the time we bought it, she has undoubtedly added value to the house, decorates, maintains the garden, always pays on time and (touch wood) is a great tenant. She has now lived there for 6 and half years and although we have improved our profits by getting better rate mortgages
  12. Me and my partner are desperate to move out of my mums house but also I want to save up for a deposit for a flat. What's the best way to go about this?
  13. Hi everyone. Sorry about the newbie questions! I want to purchase my first HMO but have read some conflicting responses. I intend to buy a 4 bed property in Liverpool. When I have researched HMOs the main point was to have a property close to the city centre. Now does this property have to be in a nice 'well to do' area? Young professionals are my intended tenants. How do you price per room? 2 rooms are double and 2 are single. All advice on HMOs is greatly appreciated. Thank you!
  14. I'm just wondering how once i've purchased my first flat for £70,000 max and am renting it out to someone for a bit of extra money, how could I afford to get another property at £70,000 to then also rent out? I am doing this so that when I have children in future I can give them everything they need. I don't really want to have this be very time consuming. I intend to save up a deposit for the first property and move into it as I pay off the mortgage, which may be several years.
  15. Hi everyone, this is my first post and I have not yet got any properties etc, I am just planning to save some money up to someday start my career off as a landlord. I really want to save up £20,000 within the next two to three years (I've worked it out and can do it.) And then I would like to purchase a cheap but sturdy flat to rent out at £70,000. I've heard that there are mortgages where you're not required to live in the property, called 'buy to let' however in the UK, I can't find ANYTHING! Does anybody have any general advice for me or know a company of which I ca
  16. Hello Hubbers I am thinking about investing in this new property portal for young professional renters ... would be good to see if anyone has used it? https://www.movebubble.com Cheers Job
  17. Hi Everyone, My name is Bryony and to my great relief found The property Hub and podcast around a month a go. I've been busy currently working on renovating a 2 bed mid terraced 1930's house in Nuneaton. I worked in the power tool industry for 13 years and left early 2017 to follow property full time. I currently have two BTL properties in my portfolio (9 and 7 years respectively) and recently sold a third to fund my first flip.... although perhaps I should convert this to a BTL and release the equity!? It has been a steep learning curve over the
  18. Quite a divisive question but welcome all your opinions: anyone here with experience of/ successful methods on managing HMOs remotely from another town or city? Keen for feedback. Cheers
  19. New PRA Buy To Let Changes come into effect on 30th September 2017 affecting Portfolio Landlords. In September 2017 the Prudential Regulation Authority (PRA) will bring in new rules affecting portfolio landlords. Buy-to-let mortgage lenders will have to complete a total portfolio assessment for any landlord with 4 or more properties. Choosing the right buy-to-let mortgage lender now requires a lot more consideration and careful calculation to ensure you are using the most cost effective mortgage product from the lender offering the right rent to loan calculation. In addition len
  20. Hi Having bought a leasehold flat with my parents a couple of years ago I recently started looking at how I could create a property portfolio, having been reinvigorated by the property podcasts. Just as I start looking into this a come across my first potential issue with my existing leasehold flat, a Section 5A right of first refusal from my landlord to purchase the freehold. My understanding is that, assuming sufficient leaseholders are interested in taking advantage of the offer, we can purchase the freehold from the landlord. If not, the landlord can sell the freeho
  21. Hi, A property i own has a slight damp issue. No problem, i have obtained a quote to repair, however, my question is on who should pay? The property is leasehold and is 1 of 4 in the same block. Should the "Landlord" of the lease cover the costs of repair? (would this be something the 'service costs' would cover?). And if so, what is the best way to contact them? - via a solicitor or direct to the management company? Thanks! Lee p.s. Post repairs, is there any specific advice on how to properly clean up/refurb the mould that is now visible on the inside of t
  22. HI I have a flat that I'm a going to rent out, but I'd like to self managing it as I am moving to a house a about 5 mins away. I know I can advertise on gumtree but is there any other sites? Also is there any software that I can credit check tenants and get references etc. Also my concern is if they don't have great credit is there anyway I could get a home buyers guarantor? Any tips will be appreciated
  23. We're very excited to announce that Rob D's new book came out yesterday and we may be biased, but we think it is his best yet. In this week's special episode of The Property Podcast, we are going to discuss 'How to be a landlord', with tips from the book, and from all sorts of other places. Also, we have Meetups next week. The evening's are lighter so there's no excuse not to join your nearest get together. Find all the details here. Listen to the full episode right here.
  24. Hi Hubbers, I'm about to embark on my first BTL investment through an SPV/Limited company and had a question in relation to landlord insurance. Would I need to take out commercial Landlord Insurance (given that the mortgage and asset is owned by the company)? Or will standard personal Insurance suffice? Thanks, Anthony
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