Officially the WORST property I have ever been in!

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Last week, whilst filming in the town of March, Cambridgeshire, for the fourth series of Channel 5’s ‘Nightmare Tenants Slum Landlords’, I experienced the worst living conditions I had ever seen in my 27 years in this business.

Although a unique case

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Limited Company Mortgages With NO PERSONAL GUARANTEES!

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I think this could be absolutely massive …. a UK Building Society offering BTL mortgages to Limited Companies with ‘No Personal Guarantees’ and on interest only terms.

Granted, the maximum LTV is only 55% and the interest rates are not earth-shatteringly marvelous

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Incorporation into existing family Ltd Co.

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We have had a property management company for many years and have a few properties held within the company. Our 2 adult children are also shareholders of this company.

If we incorporated the rest of our properties should we start another company or is it possible to utilise the existing company?

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How you serve a Notice can be just as important as what you serve…

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Serving Notices:

Landlords and agents often get confused as to how they should serve Notices on their tenants.

Ordinarily it wouldn’t matter what method is used, but if you end up in court with a possession or money claim, or some such court action, then what and how you served Notices on your tenant can be the difference between winning your case, and having it thrown out of court.

Most difficulties arise when the judge spots an error in the wording of the Notice, the wrong type of Notice has been used, or any prescribed information that must be given is not correct.

But there’s also the difficulties when the defendant (tenant) claims they did not receive the Notice, or they received it in the wrong way.

Recent changes in English (AST) tenancy laws mean that a new single type of Section 21 Notice (the Section 21 – 6A Notice) is used for all new tenancies commencing since 1^st October 2017.  Tenancies entered into prior to this date still require the old Section 21 Notices: Fixed-Term s21(1)(b) and Periodic s21(4)(a), until 1^st October 2018, when all tenancies will go to the 6A Notice.

Form N215, Certificate of Service provides a handy checklist for the service of important Notices.

For Notices to be valid the method of service should have been agreed by the tenant/s, which means having a clause in the tenancy agreement to that effect: “Notices to be service in person, by first class mail, or by electronic (fax/email) means,” for example.

Serving in person is by far the safest method as receipt of the Notice and the date and time can be confirmed, though a witness statement (Witness Statement – Notice Serving) should be used if, for example, the Notice is dropped through the letter box.

Witness Statement

A witness statement (used for setting out the details of a claim, or to witness a Notice serving) is a formal written document by a person, a set of facts relating to a certain event, or events, signed by the person who makes it, and to confirm that the contents of the document are true a statement of truth makes it valid, providing a copy is served on the other party before any court hearing.

If all of the above apply, the witness does not always need to attend court to give oral evidence, but once they have made a written statement they may be called on to attend and give their evidence in person.

Provisions in the Deregulation Act 2015 make it mandatory to serve pre-tenancy information on tenants at the time a new tenancy commences. (1) An EPC, (2) A Gas Safety Certificate, (3) The Government’s “How to Rent” guide, (4) Details of the deposit protection agency rules and prescribed information (Section 213 Notice). It’s important to do all this and get proof of service, ideally by incorporating the whole into the Tenancy Agreement.

Government gets it Wrong

To underline how complex things get when introducing new rules, even the Government makes embarrassing mistakes. Advice given in the January 2016 edition of its “How to Rent” guide potentially puts some landlords and agents who followed it in a difficult position legally.

The new Ministry of Housing Communities and Local Government (MHCLG) quietly updated their “How to Rent” guide (January 2018), removing their error:

Old wording:

“The landlord must provide you with a copy of this guide: ‘How to rent: The checklist for renting in England’ either via a link or as a printed copy.”

Replaced by new wording:

“The landlord must provide you with a copy of this guide: ‘How to rent: The checklist for renting in England’ as a printed copy or, if you agree, via email as a PDF attachment.”

Legal expert Giles Peaker, posting on his Nearly Legal blog, says that the MHCLG’s previous wording in the guide was a “startling” error as the Assured Shorthold Tenancy Notices and Prescribed Requirements (England) Regulations 2015 clearly states that the landlord must “give the tenant the [current] version of the document”.

This, in his view, means a printed version of the document and not merely a link to a document online: clearly something that could be used by a tenant in defence, had the landlord or agent followed the original advice, and these landlords or agents have no excuse – only the courts decide based on the regulations.

ARLA Propertymark MD, David Cox has said that they informed DCLG about the error in 2016.

All documents mentioned in this article are available here:

https://www.landlordzone.co.uk/documents

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – How you serve a Notice can be just as important as what you serve… | LandlordZONE.

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The Family Building Society – BTL

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The Family Building Society are an interesting little niche lender for landlords especially now while criteria is such a key decision maker for borrowers. They are selling on availability to less standard requirements rather competing on price.

Buy to Let mortgages available for:

Limited Companies –

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New Aura Development Offers Student Property Investment Opportunities in Liverpool

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For developers considering a premier destination, the new Aura development in Liverpool should be at the top of many investment shortlists. The days of dismal student accommodation is now just a distant memory, and the Aura complex provides a wonderful new way of living for students in one of the most vibrant and up and coming cities in the whole of the UK.

Based within the Knowledge Quarter of Liverpool, this incredible development contains 1,007 luxurious student pods and apartments. With the University of Liverpool just four minutes’ walk from the site, it is likely to be a firm favourite with students and their parents.

Development Location

Unlike typical student accommodation, the Aura development puts a strong emphasis on luxury. It includes state-of-the-art amenities such as gyms, yoga rooms, bars and restaurants to make it the perfect home for any student.

With Liverpool John Moores University, the University of Liverpool, the Royal Liverpool University Hospital and the Liverpool Hope University Creative Campus all on the doorstep of the development, there is a huge pool of potential students who would leap at the chance of occupying a unit within the Aura complex. The close proximity to Paddington Village, Liverpool Lime Street Station, the Liverpool Science Park and the Liverpool Institute for Performing Arts makes this an enviable location for anyone in this thriving city.

The Knowledge Quarter is well known as being a dynamic area where education, science, health and technology meet. Further development is planned for the area to make it even more of a desirable place to live and spend time in.

This fully managed complex has been designed to stand out from the neighbouring student developments, making something truly special for both investor and tenant.

The Aura Investment

Investing in the Aura development is an opportunity that is not to be missed. Starting at £62,950 for a unit, any investor can expect to receive 8.5% net for five years. The development is due to be completed in the final quarter of 2019 and the investment will be through an established UK developer.

To purchase a unit within the Aura development, a £5,000 reservation fee will need to be paid when the reservation form is completed. A quarter of the purchase price, less the reservation fee, will be due on the exchange of contracts, which takes place 28 days after the reservation is made. A further 25% will be due in March 2018, followed by the final 50% upon completion.

A Student Pod within the Aura complex costs £62,950 and is 13.75 square metres, whilst a 25 square metre Studio will cost £77,950. The modern en-suite and self-contained studio apartments are arranged in clusters, making it a sociable but private experience for the student residents.

By being part of the Aura development, an investor will be part of a new generation of student accommodation. The combination of luxury housing with a potential market in the tens of thousands, this is an opportunity that is not to be missed.

For more information on the Aura in Liverpool, please contact Hopwood House.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – New Aura Development Offers Student Property Investment Opportunities in Liverpool | LandlordZONE.

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Corbyn – Government “in the pockets of Rogue Landlords”

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Jeremy Corbyn was responding to a Guardian article “Hundreds of thousands living in squalid rented homes in England” when he accused the government of being unwilling to fix the housing crisis because they were “in the pockets of rogue landlords.”

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Can I get on Help to Buy list if I place BTL in Ltd co?

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A year ago I purchased a Buy to Let in my own name, I am looking to buy my own residential home to live in. The property value has around 50k equity and 100k mortgage.

My first question is

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Bill allowing tenants to sue landlords over poor housing progresses…

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Safe Homes:

Today, MPs have voted in favour of The Homes (Fitness for Human Habitation and Liability for Housing Standards) Bill that hands more power to tenants and will allow them to sue landlords over poor housing, taking it a step closer to becoming law.

Adam Joseph, CEO of The Happy Tenant Company, which manages over £500 million of property on behalf of landlords throughout London, comments:

“On the whole, this is a positive step forward in holding landlords accountable for the condition of their properties, forcing them to raise standards and consistently maintain their property portfolios.

“It goes without saying, that homes should be presented and maintained in a state fit for human habitation and any subsequent law brought in will have little impact on the vast majority of professional landlords who already take their legal and moral obligations seriously.

“Any change which helps force those unscrupulous landlords, who are happy to take a rent cheque without ever tending to their responsibilities, out of the market, should be welcomed.

“However, there is a concern that enabling tenants to seek action against their landlords through the courts could give lead to a raft of unjustified claims for compensation by tenants.

“It will now be paramount for landlords, who use managing agents, to be kept up to date on the well-being of their tenants and property.

“Transparency and clear record keeping of regular itemised inspections from managing agents will be fundamental to landlords.”

The Ministry of Housing, Communities & Local Government (MHCLG) had announced that it will support Karen Buck MP’s Private Members Bill, which would enable tenants in England and Wales to take legal action against their landlord if their rental property is in poor condition.

Secretary of State for Housing Sajid Javid MP has backed Homes (Fitness for Human Habitation and Liability of Housing Standards), which is expected to have its second reading on Friday. The bill states:

• that all landlords (both social and private sector) must ensure that their property is fit for human habitation at the beginning of the tenancy and throughout; and
• where a landlord fails to do so, the tenant has the right to take legal action in the courts for breach of contract on the grounds that the property is unfit for human habitation

Javid says:

“Everyone deserves a decent and safe place to live. Councils already have wide-ranging powers to crack down on the minority of landlords who rent out unsafe and substandard accommodation.

“However, public safety is paramount, and I am determined to do everything possible to protect tenants. That is why government will support new legislation that requires all landlords to ensure properties are safe and give tenants the right to take legal action if landlords fail in their duties.”

As part of attempts to drive out rogue landlords and raise property conditions, the government has already introduced a range of powers for local authorities.

April 2018 will see both the introduction of a database of rogue landlords and property agents convicted of certain offences and fines and banning orders will be issued for the most serious and prolific offenders.

Penalties for failing to maintain safe housing could be fines of as much as £30,000 and banning orders to stop convicted landlords from renting out homes.

David Cox, Chief Executive of ARLA Proopertymark, says:

“ARLA Propertymark supports the Bill. If enacted, it would reinforce what the vast majority of landlords and professional letting agents are already doing. Where these standards are not being met, the Bill will allow tenants to take more effective and direct action.”

See the progress of the Homes (Fitness for Human Habitation and Liability for Housing Standards) Bill 2017-19 here

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PRS accounts for 20% of households – English Housing Survey

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The Ministry of Housing, Communities & Local Government has now released the National Statistics English Housing Survey 2016 to 2017 headline report.

Click here to see the full headline report.

The Private Rented Sector (PRS) continues to be bigger than the Social housing sector and is now the largest individual tenure in London.

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