Landlord asking for accounts

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Landlord asking for accounts

    I'm trying to negotiate a rent plan for my shop, but my landlords agent has asked for my accounts for the previous 2 years. I've been at the property for over 20 years, no problems paying rents etc. This new landlord took over 3 years ago, again no problems paying rents etc. Until the virus hit.

    I don't understand what the previous 2 years accounts has to do with the current pandemic. How is it relevant to the situation now? Could any landlords out there give me an idea why my landlord has asked this?

    FYI I'm dealing with a large property investment company. They have all sorts of property including an outdoor market, so a lot of short term tenants.

    #2
    They may need to review and update there leaseholders information that they hold for insurance, mortgage or general due diligence reasons. The reason why they would see your previous years is too see if you were making a loss each year or in profit. They can not see into the future so all checks are done on a historic basis. For example asking for your wage slips or bank statements.

    Comment


      #3
      The landlord owns the property, not the tenant's business. The landlord can ask but is not entitled to see your accounts. By the same toke, you are not entitled to a rent plan. As only the landlord can agree a variation to the rent payment arrangements, I'd have thought whether from your point of view you consider it relevant to provide your accounts for the past 2 years irrelevant.

      Likely the landlord wants to check wether your request for a rent plan is a ploy or justifiable.

      Comment


        #4
        Do you have a ltd company hop?

        Comment

        Latest Activity

        Collapse

        • Notice served next step
          by simlock
          Hi, i have served notice, break clause, and have spoken to the unhappy tenant, he will be 3 months behind in his rent on the first of October, is there anything that i can do to recover the money the money he owes if he refuses to pay? he's only paid on time once, since he's signed the new lease, and...
          26-09-2020, 20:54 PM
        • Rent Concessions
          by comm1985
          Having been inundated with requests for rent holidays/concessions/relief some which i believe to be genuine but others less so, i wanted to gauge feedback from other landlords on how they approached this and what if any concessions they offered?
          18-09-2020, 17:14 PM
        • Reply to Rent Concessions
          by comm1985
          Two are still paying in full and one is still paying in full but in increments, all 5 tenants have received grants but you're right each has been affected by C19 differently...
          26-09-2020, 10:57 AM
        • Reply to Garage rental
          by MOONRIVER
          She is still a tenant and I know she wouldn't do any such thing....
          25-09-2020, 19:44 PM
        • Garage rental
          by MOONRIVER
          About 18 months ago I bought a flat which had a garage down the road with a load of other garages so very separate from the flat. I let the flat and then let the garage to another person. The person paid the rent on the garage for about 6 months but then in February just stopped paying. I have tried...
          25-09-2020, 16:04 PM
        • Reply to Garage rental
          by MOONRIVER
          I don't intend getting rid of the car. Just tow it onto the road a leave it there. I suppose that won't be easy if the hand brake is on and in gear. Oh dear I can see this getting expensive....
          25-09-2020, 19:36 PM
        • Reply to Garage rental
          by MOONRIVER
          the tenancy agreement says there are no garages or out houses included in tenancy. Surely this is enough...
          25-09-2020, 19:34 PM
        • Reply to Garage rental
          by doobrey
          I had a similar situation a couple of years ago with a parking space.



          I would not expect this to be the case. Do you have experience of this having happened? DVLA's position seems clear.

          https://assets.publishing.service.go...-registers.pdf


          ...
          25-09-2020, 19:22 PM
        • Reply to Garage rental
          by Section20z
          Strewth that was unlucky. Your tenants downloaded deeds from land registry ? Found out you also owned a garage some way down the road ? Decided they were going to claim the rights to it ?
          Hope they're not still tenants.. .....
          25-09-2020, 19:04 PM
        • Reply to Garage rental
          by Section20z
          Sometimes you get a clue to job or address if they've posted adverts etc. If there's a car in there (unlikely) you can get keepers address from DVLA but I'd be wary of towing it anywhere till you are sure who owns it (if it's valuable) .
          I had it happen with a Mercedes and an Alfa in one double...
          25-09-2020, 19:01 PM
        Working...
        X