Annual consent to sublet not specified in agreement?

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When I bought my flat in an apartment block I applied for consent to rent it out. For a fee of £200 the freeholder granted that consent. However 3 years later the freeholder’s agent now tells me that this consent has to be renewed (and paid for) annually.

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Introduction to High Court enforcement webinar Q&A

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On 18th January we hosted a webinar on an introduction to High Court enforcement, we had over 127 people attend. We’ve compiled the Q&A from those who attended.

If a defendant has moved after judgment, do we have to notify courts officially first?

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I know where the tenant has gone, can I use the info?

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Monday this week we had a tenant abscond owing rent. Much more than the deposit. (yes, they past references etc.)

The (now) ex-tenant point blank refused to give forwarding details. As is their right.

It turns out the move was very local.

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Leasehold purchase and ground rent fear?

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My daughter is about to exchange on the purchase of a new flat within a converted house.

The ground rent is £300 per annum increasing every 10 years by the prevailing inflation rate at the time.

I am aware of the scandal surrounding leases with ground rents doubling every 10 years as high lighted by our  friend Patrick Collins

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Which earnt more in 2017 – you, or your house?

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Buy-to-Let Earnings:

According to research CRJ Lettings, house prices have increased by more than the average salary in more than a quarter of districts across the U.K. Whilst many of these areas are in London, it goes to show that lots of property owners will find that their home (or buy-to-let property) has earnt more than they have in a year!

Here in Chichester, average sold prices rose from £352,386 at the end of 2016 to £387,573 by November 2017 – an increase of £35,187. This is indeed more than both the national average salary (£27,600) and local average salary in Chichester (£27,926).

All that creates a problem for those trying to save for a deposit to buy their own home; seeing as how ever much they saved they are now likely to be further away from their dream.

What is also striking is the relatively low average salary locally in Chichester compared to house prices, versus the rest of the country. Consider that the average property price in the U.K is £226,071, which is a little over eight times the average annual salary.

Here in Chichester though, property prices are 71% higher than the U.K average, and yet the local average salary is only 1.2% higher than the national average! This means that property prices in Chichester are nearly 14 times the local average salary, which is why Chichester is often cited as one of the least affordable places to live in the country.

This was highlighted in August 2009, with Chichester being labelled the second least affordable place to live in the country. Since then though, property prices in Chichester have risen 52%, compared to 38% nationally.

And in August 2013 Chichester was labelled the “worst” place to buy because it had become the least affordable area of the country. Since then, Chichester’s property prices have defied the naysayers by rising 34%, compared to 28% nationally.

It seems therefore that Chichester has a history of outpacing the rest of the country in regards to property price growth, with homes becoming ever more unaffordable for local workers.

Of course, if you’re already a homeowner or landlord in Chichester you will have profited from these price rises. An ever-strengthening demand from tenants who have been outpriced in the local market will also underpin returns, and I don’t see the strong capital appreciation of homes in our area slowing down any time soon either.

Article provided by CRJ Lettings, Chichester – https://www.crjlettings.co.uk

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Which earnt more in 2017 – you, or your house? | LandlordZONE.

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IMLA blame 80% decrease in BTL investment on government policies

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Intermediary Mortgage Lenders Association (IMLA) figures show that Buy to Let investment has fallen by 80% since the 2015 Summer Budget Section 24 mortgage interest relief restrictions were announced.

IMLA figure indicate Buy to Let lending in 2015 totalled £35 billion and last year this fell to only £5 billion.

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Sole to joint to spread tax and Stamp Duty liability?

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I have two buy two lets on my sole name, 1x HMO and 1x single let.

With the new tax changes to the property market I am looking add my wife’s name on to both properties to joint tenants to benefit from her tax allowance.

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The Menace that can Undermine your Investment

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 Japanese Knotweed:

Many landlords are familiar with Japanese Knotweed and the menace that the plant poses for property owners.

Typically, the plant is in full bloom in the summer and is characterised by its unusual zig zag stem growth, its heart shaped leaves and its white clustered flowers. The stems are one of the defining features of the plant and when the stems are split open the stems appear hollow.

In the winter (see image below) the leaves and flowers die back but the zig-zag shaped stems remain. What makes the plant special is its hardiness and its resistance to attempts at removal or treatment. The disposal of the plant away from the contaminated land can now only be carried out by licensed removal contractors at licenced landfill sites.

Individuals who find themselves in the unenviable position of having Japanese Knotweed on their land will find that sellers are put off from purchasing the land without a formal treatment plan in place.

Mortgage lenders have also been historically unwilling to lend when there is a presence of Japanese Knotweed on the mortgaged property’s land. Seller’s are obliged to notify prospective purchasers of the existence of Japanese Knotweed on the land of the Property being sold at question 7.8 on the Seller’s Property Information Form (known as form TA6).

The plant has been the subject of fierce litigation in 2017 and the Cardiff County Court found in favour of two property owners who lived next to a railway track controlled by Network Rail. Japanese Knotweed was found to be growing on the land that was controlled by Network Rail and that the presence of the Japanese Knotweed had had a detrimental impact on the value of neighbouring properties (i.e. the properties owned by Waistell and Williams).

In February 2017 the Cardiff County Court gave its decision in the joined case of Williams v Network Rail Infrastructure Ltd [2017] UK CC (the case is also known as Waistell v Network Rail Infrastructure Ltd). Network Rail was ordered to compensate the Claimants and the Judgment awarded the Claimants’ the cost of the knotweed surveys, treatment programmes, insurance backed guarantees, the diminution in the value of the Claimants’ properties after the treatment had occurred and general damages for loss of amenity and interference with quiet enjoyment.

Since that decision Network Rail have appealed to the Court of Appeal in Central London and a further hearing looks set to be heard in 2018.

When the case is finally heard by the Court of Appeal we will be able to answer questions that arise in Japanese Knotweed disputes, namely:

1. Does the presence of Japanese Knotweed on a neighbouring property’s land constitute an actionable interference? (i.e. even where there is no physical damage to the claimant’s property)
2. What should the appropriate levels of compensation be in these cases? (diminution in property value, damages for loss of amenity and interference with quiet enjoyment)

The Plant in Winter

What is clear is that the days of allowing these non-native, invasive plants to grow unchecked on land are over. If you live next to a neighbour who is allowing Japanese Knotweed to grow on their land, you need to contact specialist Japanese Knotweed Solicitors get clear guidance on the advisable course of action.

Author – Tom Lathom of Summerfield Browne Solicitors – www.summerfieldbrowne.com

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – The Menace that can Undermine your Investment | LandlordZONE.

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Knight Knox – Investor Insight Workshop – Sheffield, 21st February,

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Knight Knox is holding its latest Investor Insight Workshop in Sheffield on the 21^st February, and if you are in need of expert property advice then this could be the event for you.

Whether you are you an investor looking to expand your portfolio; a landlord searching for a reliable lettings agent; or a potential homeowner who needs mortgage advice; the information you need to confidently take your next step in the world of property will be available at this free event at the Leopold Hotel.

The property industry can be a daunting place and it is no surprise that many people need help before making the correct decision. Knight Knox’s expert consultants will be on hand to provide advice on everything from mortgages to property management. No question is too big or small.

In addition there will be the chance to learn more about Knight Knox and Qualis Development’s first bespoke scheme located near Kelham Island, Great Central, which looks to redefine the boundaries of Sheffield City Centre.

Join Knight Knox anytime between 12pm and 8pm on the 21^st February to start taking your next step. To request our free ticket or for further information, please email exhibitions@knightknox.com

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Knight Knox – Investor Insight Workshop – Sheffield, 21st February, | LandlordZONE.

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Avoiding squatters in your property

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Commercial Property:

What can property owners and landlords to remove squatters legally from a commercial property?

Here’s some advice from Simon Broadbent, CEO of Secure Empty Property.

Commercial properties have been put at more risk, says Mr Broadbent, from squatters since 2012. This situation has arisen since the law making squatting in residential properties a criminal offence was put into effect.

Now, while residential property owners are able to legally keep squatters out of their buildings, commercial property owners have had to deal with an influx of unauthorised occupiers that they cannot as easily get rid of.

Currently, squatting in non-residential buildings is still a civil law matter rather than a criminal one, which means that the property owner has to go to court in order to have the issue resolved.

Obtaining a summary possession order costs £175, to just issue the application, and landlords can expect to take back possession of the property anything from 10 days to four weeks. This timescale takes into account court hearings and bailiff warning and enforcement, although if there is risk of damage to the property this process can be conducted via the High Court, which is much quicker.

If you’re looking for a quicker turnaround, then you can obtain an Interim Possession Order, but it can only be used within 28 days of you becoming aware of the squatters occupying your property.

An IPO can be more complex as it is only an interim measure while waiting for a hearing, and the application may even be overturned following the hearing. It is also reliant on specific timescales and other technicalities, which can derail the entire application and process if not followed to the letter. It is also a more expensive procedure for a result that is only “potentially” faster than a summary possession order.

In theory the police can remove unauthorised occupiers if they have committed criminal damage, for instance by forcibly breaking into the property or damaging the inside in some way. While squatting in the property is not a crime, damaging it is. The police can also take action if the unauthorised occupants have stolen from the property, used any of the utilities without permission, dumping waste otherwise known as fly-tipping, and of course ignoring court notices to leave if your court order goes through. However, often the police are reluctant to act before a court order is issued.

In order to avoid damage to your property by squatters breaking in, and in order to avoid costly legal fees in court applications and hiring a lawyer, Mr Broadbent recommends taking preventative measures.

• Investing in protecting your commercial property from being entered, either by force or through lack of security, can save you money and grief later on down the line.
• Boarding up properties to prevent entry or access with security doors and screens, alarms and CCTV cameras, and even manned security.

Secure Empty Property Chief Executive Simon Broadbent says, “Squatting is a real headache for landlords. Not just the cost of their eviction but the damage they cause whilst in occupation and the hold-up to the owners plans for re-development or disposal. We urge property managers to mitigate these risks before they happen”.

Secure Empty Property was set up in 2012 by its Chief Executive Simon Broadbent, who has more than 25 years’ experience in the industry. https://www.secureemptyproperty.com

Squatting is when someone deliberately enters property without permission and lives there, or intends to live there. This is sometimes known as ‘adverse possession’.

Squatting in residential buildings (like a house or flat) is illegal and a criminal offence. It can lead to 6 months in prison, a £5,000 fine or both.

Anyone who originally enters a property with the permission of the landlord is not a squatter. For example, when tenants fall behind with rent payments they are not squatting if you continue to live there.

Although squatting in non-residential (commercial) property or land isn’t in itself a crime, it is a crime to break-in or cause damage to the property.

Squatting and the law

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Avoiding squatters in your property | LandlordZONE.

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