National Residential will solve all tenant issues and sell your tenanted properties for the best possible price

admin    Uncategorized     agents

If you’re a landlord and you haven’t yet heard of us here at National Residential [ www.national-residential.co.uk ], there’s a good chance you’ll want to. Established in 2006, we pride ourselves with our “any problem we can fix” formula, led by myself, founder and industry expert, David Coughlin.

Helping Landlords Sell

There are a few challenges landlords may face when trying to sell their properties. Difficult tenants can be top of the list, but they don’t have to be. Being a private landlord myself, with 100 properties in my portfolio, I first-hand understand the issues and challenges facing landlords today. It’s about overcoming solutions fast, but also in a way that means both the landlord and the tenant are happy. With National Residential, we’ve found the sweet spot when it comes to helping landlords sell, so we’ve become experts in taking away the stress. We know how to solve every barrier that landlords come up against, even for example when they can’t gain access to their own properties.

Can you sell my property if my tenants are a problem?

A landlord recently contacted us wanting to sell his small property portfolio in London, and added to that they were HMO properties with multiple tenants. The first challenge for one property was the tenants refusing access for both photos and viewings. They were worried that once the sale went through, they’d have to vacate. They were also worried about both COVID-19 and the hassle of viewings. So, our goal was to get the tenants on side and get the highest quality photos and video tours we could safely, and with the tenants cooperation.

Our staff persevered to build a great relationship and confidence with the tenants. We paid them to allow our agent to socially-distanced get the best photos and video possible, and we reassured them that any viewings would be safe and with one of our landlords who would keep them on as a tenant. This is exactly what we did.

For the second property, through our online video tours and auction platform, we were able to sell the HMO to another landlord, who kept the tenants, in just a few weeks.

On one of the other properties, the highest bid was from a buyer who needed vacant possession but that wasn’t a problem: we were able to pay the existing tenant £5,000 from our fee to leave voluntarily, and sign a Deed of Surrender. The buyer, tenant and seller were all happy with our win-win solution. Be it negotiating with your tenants, sorting out repairs, and even helping tenants relocate, we have the best team to do it all and have the track record to prove it.

Another of our landlords based in London gave us a small portfolio of tenanted properties in the North-East to sell. We overcame every problem and went that extra mile to get her the best prices with a fast completion.

All these properties sold within 28 days and completed in 2 – 3 months.

In our business, the majority of properties sold end up going to investors wanting to keep the tenants on. If there’s a tenant that passionately wants to stay, no problem, we’ve got thousands of buyers who are happy to buy, so we can reassure tenants that by letting us gain access, they won’t have to pack up and leave. For those properties that are being sold to owner-occupied buyers, we also have the win-win solution: we help them with both the rent and the deposit to find an alternative rental property.

We go the extra mile to get tenanted properties sold, solve all problems, and to get the best prices and complete quickly. We’re there for landlords, sellers and tenants at every step, all the way through the process.

Our mission is to help take away the stress of selling your portfolios and properties. We’ve helped so many landlords like you sell their portfolios fast, and for the best possible prices. As a LandlordZONE reader you’ll get access to our top professionals, who have the best knowledge in the business. No hassle, and no obligations, we’re here for you. Contact us today by filling out the form below.

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©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – National Residential will solve all tenant issues and sell your tenanted properties for the best possible price | LandlordZONE.

View Full Article: National Residential will solve all tenant issues and sell your tenanted properties for the best possible price

EXCLUSIVE: Rogue agent David Walters has left over 100 angry landlords facing losses

admin    Uncategorized     agents

More angry landlords are coming forward to share horror stories about David Walters – the property developer and agent who is now being investigated by Trading Standards, LandlordZONE can report.

Walters is believed to be illegally working as a property agent with 4PropertyUK – formerly Lettings4All – despite being kicked off the Property Redress Scheme (PRS).

He was ordered to pay more than £20,000 to landlord Amy Trumpeter for pocketing her rent and leaving her house in Oldham with furniture missing and its roof fallen in after failing to carry out repairs, the Daily Mail reported last week.

She reported him to the PRS which found that he had to pay back £5,575 in rent and a further £6,425 for repairs.

Pay up

However, he failed to pay up and, following a protracted county court battle, she’s frustrated that he only has to pay back £100 a month, despite posting photos on Facebook of exotic holidays.

But his activities have affected far more than just Trumpeter. Her victim support group on Facebook has 28 members who have stories dating back to 2015 but she believes more than 100 landlords have been affected – usually by not being paid rent by Walters.

“I know of one letting agent who has taken on four houses that he’s previously managed and pocketed the rent from,” Amy tells LandlordZONE.

“Some landlords are so ill and stressed by it that they’ve had nervous breakdowns, while others don’t want to come forward because there are court cases pending.”

£100k out of pocket

Landlord Tristan Mills says he’s at least £100,000 out of pocket after buying two properties in Oldham and spending £50,000 on renovations at each house.

These were overseen by David Walters, but never properly carried out, says Tristan.

“He was supposed to be a fantastic agent who could turn rooms into HMOs but that didn’t happen. I also had reason to believe there were people living in both properties who didn’t have a rental agreement and didn’t pay rent,” he adds.

Tristan tells LandlordZONE that expenses were also unnecessarily charged to him – such as three TV licences and broadband deals bought for only two properties and other maintenance bills that he doesn’t believe were carried out.

“I’m resigned to not getting the money back but I hope that by speaking out it will prevent David Walters from doing this again to someone else,” he adds.

The Property Redress Scheme says Walters set up a number of phoenix companies to enable him to gain membership, after being expelled for failure to comply with its decisions. 

A spokesman adds: “However, thanks to the diligence of our employees we were able to spot these phoenix companies and expel them from the scheme immediately.”

LandlordZONE has contacted David Walters for comment.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – EXCLUSIVE: Rogue agent David Walters has left over 100 angry landlords facing losses | LandlordZONE.

View Full Article: EXCLUSIVE: Rogue agent David Walters has left over 100 angry landlords facing losses

BREAKING: Green Homes Grant needs urgent overhaul say MPs who slam ‘snail’s pace’ progress

admin    Uncategorized     agents

The government’s Green Homes Grant has come in for more criticism today, this time from parliamentary Environmental Audit Select Committee.

Its report published today heavily criticises the administration of the scheme, which official figures show only six percent of the budget assigned for the grants in 2020/21 has actually been spent.

Also, only 20,000 vouchers have been issued out of a expected 600,000 five months after the £2 billion scheme launched.

Although well intentioned, the Green Homes Grant has failed in a key objective, the committee said, which had been to create more green jobs within the construction and other trades during the pandemic.

As LandlordZONE revealed recently, the scheme has been dogged by weak landlord demand, teething troubles and scarce tradespeople.

Among a survey by the Environmental Select Committee of over 500 people who had tried to access a grant, a ‘worrying’ 86% described a poor experience.

Perverse consequences

“Delivery has been poor for consumers and has led to perverse consequences for installers, and the scheme remains too short-term to have any prospect of achieving its initial targets,” says its report says.

“We recommend that the Green Homes Grant scheme be urgently overhauled and extended to provide greater long-term stimulus to the domestic energy efficiency sector.

“The Government must be mindful not to repeat the mistakes of the failed Green Deal energy efficiency incentive scheme.”

The NRLA, which recently conducted its own investigation into the scheme, says that although 43% of landlords want to take it up, many are prevented from doing so by the criteria that it requires them to meet.

This includes that homeowners must install primary measures before receiving the same funding towards secondary measures.

“We agree with the Select Committee that the eligibility criteria for the scheme is preventing many from being able to access it and Ministers need to address this as a matter of urgency,” says Meera Chindooroy, the NRLA’s Deputy Policy Director (pictured).

Read the report in full.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – BREAKING: Green Homes Grant needs urgent overhaul say MPs who slam ‘snail’s pace’ progress | LandlordZONE.

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Regaining possession of a commercial property

admin    Uncategorized     agents

Landlords of commercial premises may consider it necessary to bring the lease to an end or to refuse to renew a lease. This course of action might be for a number of reasons: A tenant for example might not have a statutory right to a lease renewal under the Landlord and Tenant Act 1954, the tenant may be in arrears with rent or has made a serious breach of the contract. The landlord may wish to redevelop the premises or occupy it to run its own business.

This article refers to English law. It is not a definitive interpretation of the law. Every case is different, rules change over time and only a court can decide -a lways seek expert advice before taking action or not.

To terminate a lease when it ends the landlord must serve notice – a section 25 notice – and the notice must specify at least one of the seven “grounds” set out in section 25 of the Act. If the tenant beats the landlord to it and serves notice – a section 26 notice – requesting a new tenancy, the landlord may oppose the request on the basis of the several grounds for possession.

There are in fact seven grounds under the Landlord and Tenant Act 1954 used to end a commercial tenancy, or for opposing a new tenancy:

If the landlord chooses a mandatory ground (F or G for instance) and it provides enough evidence to substantiate the claim, then the court must award possession regardless of the situation of the tenant. Furthermore, under a third ground (D), the court has little discretion not to order possession.

For applications on the other four grounds, the court has to decide whether the tenant should be allowed to stay in occupation, even when the landlord proves his ground is reasonable.

Grounds on which a landlord may object to the renewal of a lease listed in section 30(1) of the Landlord and Tenant Act 1954 (part 2).

Ground A: Breach of repairing covenant, a discretionary ground, so the court decides. Generally the breach must be a serious one, but good evidence of the tenant’s failure to keep the premises in good repair does not necessarily in itself enable the landlord to have the tenant’s renewal application dismissed. The tenant may offer to repair on renewal, or the landlord can show given the state of repair the lease ought not to be renewed.

Ground B: Persistent delay in paying the rent, another discretionary ground. The landlord must show that the tenant, “ought not to be granted a new tenancy” given the persistent failure to pay the rent on time. A court will be looking at whether the tenant can convince it of its ability to pay the rent on time in the future. It is important to note that where a landlord has habitually accepted the late payment of rent and not made it clear to the tenant that it must strictly comply with the lease terms, the landlords claim may fail.

Ground C: Breaches of other obligations, another discretionary ground. The onus is on the landlord to show to the court that the breaches the tenant has made are such that the tenant, “ought” not be granted a new tenancy. Again, any evidence that the landlrod Any waiver of, or acquiescence in, a breach by the landlord will influence the court against the refusing of a new tenancy on the grounds of the breach.

Ground D: Availability of alternative accommodation, here it is mandatory and the Court has little or no discretion. The landlord must show that it can offer suitable alternative premises to the tenant on lease terms that are reasonable and similar. The tenant has limited time to decide to take up a reasonable offer, otherwise it is out.

Ground E: A Sub-tenant – possession is required for letting, or disposing of the whole of the property, another discretionary ground. The landlord must show that the tenancy was formed by sub-letting part of the superior tenancy and that the superior landlord is able to let the whole premises for more than the individual parts. It depends on the superior tenancy ending by the date the applicant’s tenancy ends.

Ground F: Landlord intends to demolish or reconstruct, a mandatory ground. The landlord must show it intends to demolish, reconstruct or otherwise develop the premises which could not reasonably be performed without obtaining possession of the premises. The landlord must have plans and evidence of genuine intention with penalties if it fails to perform. The court is more likely to approve if the premises are in a dilapidated state.

Ground G: Landlord intends to occupy the premises himself, a mandatory ground. The landlord must show that it intends to occupy the premises for the purposes of its own business, or as its residence. The premises must have been owned by the landlord for at least five years prior to the ending of the current tenancy.

Compensation is due to a refused renewal tenant under the Landlord and Tenant Act 1954 set-out in a formulae in the Act for grounds E, F and G.

Landlords should have detailed information available from the start of the possession process including: a schedule of dilapidations, rent payment history, a schedule of any covenants the tenant has breached, full details of alternative accommodation, detailed calculations of the market rent attainable on the whole or parts, a full description of the works that the landlord intends to undertake, details of planning and building regulations consents, a description of any business the landlord intends to undertake, all as appropriate to the grounds selected.

When the tenant is a licensee or if the lease is contracted-out of the Landlord and Tenant Act 1954 (Part 2), serving notice to quit and bringing possession proceedings should be pretty straightforward.

However, complications can arise with protected tenants, i.e., when the lease is under the Act.

Tenants then have a right to renew their tenancy under the Act on similar terms. In these circumstances, in addition to any contractual break notice, the landlord must also serve a statutory section 25 notice. This is effectively a six-month statutory notice period to quit the premises.

Under procedures introduced in 2004, the landlord is able to issue a possession claim without waiting for the six months’ notice to expire. However, for this to be successful, the court will require detailed evidence as above in a very short time frame. In cases were the landlord is slow to act and unprepared, the tenant can take advantage and obtain a new tenancy.

There is a trap that can catch the landlord out. Where the tenant gets in first and serves a section 26 notice the landlord would need to serve a counter-notice to the tenant’s section 26 notice within two months. Failure to do so would prevent the landlord from bringing a claim for possession.

In practice, the procedure should be straightforward providing the landlord is on top of things with all the information to hand in a timely manner.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Regaining possession of a commercial property | LandlordZONE.

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EXCLUSIVE: Letting agency enters liquidation owing landlords and tenants £700,000

admin    Uncategorized     agents

A letting agency in the Midlands has gone into voluntary liquidation today owing landlords and tenants at least £700,000 in unprotected deposits and rent payments.

The circumstance surrounding the collapse of Agent Homepoint Ltd in Walsall, which until recently has been trading as HomePoint, is one of the largest client money protection cases so far this year.

It highlights how it is essential that landlords use agents who are registered with an approved client protection scheme, as agents have been required to by law since 1^st April 2019.

HomePoint had already placed other rental deposits within one of the three government-approved deposit protection schemes, so these deposits are automatically protected.

And its membership of Client Money Protect means landlords and tenants can now make claims to recoup the unprotected rental deposits and rent payments.

“This case illustrates vividly why landlords need to be up to speed on the recently-introduced client money protection rules for agents – using an agent who has not registered with one of the services means not only are they operating illegally but any cash you hand over to them is at risk if they go bust,” says Kate Mutter-Bowen of Client Money Protect (pictured).

If you are one of the landlords affected then visit the Client Money Protect claim online, download the claim form or contact the scheme on 0333 321 9414.

In Scotland it became mandatory from 31st January 2018 and in Wales from 23rd November 2015 for agents to be signed up to a CMP scheme.

Homepoint Creditors have until 11^th of May to lodge their claims with its liquidator, Mustafa Abdulali of Moore UK.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – EXCLUSIVE: Letting agency enters liquidation owing landlords and tenants £700,000 | LandlordZONE.

View Full Article: EXCLUSIVE: Letting agency enters liquidation owing landlords and tenants £700,000

Inflation erosion on savings accounts intensifies

admin    Uncategorized     agents

The number of inflation-beating accounts on the UK savings market has fallen month-on-month and there has been a rise in inflation. The latest analysis from Moneyfacts.co.uk reveals the options available to savers to beat the current level of inflation today.

The post Inflation erosion on savings accounts intensifies appeared first on Property118.

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Gap and loophole between content and buildings insurance?

admin    Uncategorized     agents

For leasehold properties, I have recently been advised leaseholders may be exposed to some gap and loophole between home content insurance and building insurance (usually taken by the management company or freeholder).

Can anyone with more experience in the field advise how the best we can cover ourselves

The post Gap and loophole between content and buildings insurance? appeared first on Property118.

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