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Helping a family member and tenant?

Helping a family member and tenant?

A family member is selling their property in order to now self-fund a much-needed operation, that he is unable to get (quickly) on the NHS. The property is tenanted, and initially, she did not want to...

11:11 AM, 12th October 2021, About 3 years ago |  4

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Lender says letting out as licenced HMO breaches terms and conditions?

Lender says letting out as licenced HMO breaches terms and conditions?

I am a residential landlord of a small portfolio of buy-to-let properties in London. I purchased my most recent property in March 2018, and took out a 5-year fixed-rate mortgage with a lender to enable...

14:58 PM, 11th October 2021, About 3 years ago |  23

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Receiving a property gift – What to do next and how to do it?

Receiving a property gift – What to do next and how to...

Hi, My parents will be gifting a property to me in the not too distant future, and I just wanted to gather some advice regarding best practices moving forward with the aim of growing a buy-to-let portfolio.

14:01 PM, 11th October 2021, About 3 years ago |  2

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Smart company set up and maintenance costs?

Smart company set up and maintenance costs?

Hi Property118, I am interested in setting up a Smart property company structure with a holding company and SPVs (Single Purpose Vehicles) as subsidiaries and want to understand the set-up and annual maintenance...

10:50 AM, 11th October 2021, About 3 years ago |  0

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Refinancing a modest but thorny commercial mortgage?

Refinancing a modest but thorny commercial mortgage?

Hello fellow P118’s – I wonder, can anybody help with a thorny little problem that we have? We need to refinance a modest (just over £500K) mortgage for a small office building that we own...

9:22 AM, 8th October 2021, About 3 years ago |  3

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Anything else we can use so that my friend can feel more secure?

Anything else we can use so that my friend can feel more secure?

Hi, I own a rental property with a friend. The investment is 50/50. The property and the mortgage are in my sole name, everything goes through a joint bank account in both our names. We have a “Deed...

9:01 AM, 8th October 2021, About 3 years ago |  2

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Right to rent follow up check when tenant is renewing visa?

Right to rent follow up check when tenant is renewing visa?

Hi, My tenant’s UK work permit visa expired a few months ago, and I’m conducting a following up Right to Rent check. The tenant has been chasing an application to renew the work permit Visa with...

15:15 PM, 7th October 2021, About 3 years ago |  0

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Unfair demands/treatment from managing agent and their lawyer?

Unfair demands/treatment from managing agent and their lawyer?

Dear All, I am a leaseholder in a large building, and pay my half-yearly service charges on receipt of emailed invoices from the managing agent. Out of blue, I received an emailed bill this September from...

9:08 AM, 6th October 2021, About 3 years ago |  11

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Tenancy Agreements – Agents v Landlords?

Tenancy Agreements – Agents v Landlords?

For the majority of my properties I use my own Tenancy Agreement (TA), established over time with updates as and when (mostly when issues have occurred with a previous tenant and to stop the potential...

15:29 PM, 5th October 2021, About 3 years ago |  36

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Unless 3 x the deposit is more than the small claims limit the Part 36 offer is a bluff

Unless 3 x the deposit is more than the small claims limit the...

Landlords who fail to protect tenancy deposits and to serve Prescribed Information Forms correctly may be liable for a penalty. The minimum that can be ordered for each breach is one times the amount of...

10:28 AM, 5th October 2021, About 3 years ago |  10

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Cash purchase, renovate then refinance with Ltd co mortgage?

Cash purchase, renovate then refinance with Ltd co mortgage?

I currently have a small portfolio with my partner as a partnership. We are just under the threshold for section 24 as my partner only works part-time. I’ve just agreed on a sale for our next property...

10:08 AM, 5th October 2021, About 3 years ago |  10

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BTL purchase inside a new LLP?

BTL purchase inside a new LLP?

Hi, I am looking to purchase a new Buy to Let investment property. However, I would like to make the purchase of the property inside a newly created Limited Liability Partnership (LLP)  i.e. I am not...

15:04 PM, 4th October 2021, About 3 years ago |  4

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One HMO tenant left after Section 21?

One HMO tenant left after Section 21?

I own a 6 bed HMO and wish to renovate it and rent out as a whole house. Having served a section 21 several months ago (via my solicitor and agent) all the tenants have now left, except one. The remaining...

10:11 AM, 4th October 2021, About 3 years ago |  19

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RTM Accountant to check service charges?

RTM Accountant to check service charges?

I’m just taking a block through the Right to Manage, and we are at the stage of informing the Freeholder. However, many are concerned by the service charges we have received over the 5 years the...

10:51 AM, 1st October 2021, About 3 years ago |  4

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One bad apple?

One bad apple?

I know this is an issue that every landlord encounters at some point, unfortunately, it’s now my turn to deal with this. I have a flat in a purpose-built block of 6, containing 5 rentals and 1 owner-occupied...

9:59 AM, 1st October 2021, About 3 years ago |  12

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What is the best way to gift properties to family?

What is the best way to gift properties to family?

Hi, I would like to gift one property to each of my two adult daughters from my portfolio. Neither property has any mortgage against it. One property is a purpose-built flat with a long lease remaining,

10:39 AM, 30th September 2021, About 3 years ago |  9

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Setting up a Mixed Partnership Structure?

Setting up a Mixed Partnership Structure?

My wife and I are both higher rate taxpayers and currently hold a portfolio of 9 BTL properties in joint names. We are familiar with the four structures that we could use to hold & manage the portfolio:...

11:15 AM, 29th September 2021, About 3 years ago |  5

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Purchase of second home in Family Trust for son?

Purchase of second home in Family Trust for son?

Hi All, My wife and I have a small property portfolio held in an LLP. We are in the process of purchasing a property for our 37-year-old son using the equity from our main home. As he’s autistic and...

11:14 AM, 28th September 2021, About 3 years ago |  4

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HMO licence tenants say they are related – Cousins?

HMO licence tenants say they are related – Cousins?

I have a three-bedroom flat and the single room does not meet the council’s new imposed minimum room size of 7.1 square meters and so does not meet the licensing criteria. I have 3 students from...

9:52 AM, 27th September 2021, About 3 years ago |  5

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Local council is offering to lease my flats?

Local council is offering to lease my flats?

Hi everyone, My local council is offering to lease my flats on an interim lease agreement, whereby they would use the properties as temporary accommodation for households owed a duty under S188 or S193...

11:31 AM, 24th September 2021, About 3 years ago |  19

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