Regulated Tenancy - Are there any experts on this?

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    Regulated Tenancy - Are there any experts on this?

    Does anyone know of any experts in this field, every solicitor I have asked - doesn't know too much and are all very vague about the rights, etc.

    I am having an issue whereby the council have asked us to do a number of massive repairs (we bought the property last year, our own fault for not checking about the tenancy!)

    This includes
    - Roof work
    - New Boilers
    - New Electrics
    - Removing Polystyrene Ceiling Tiles

    Really over 50k worth of work.. The tenants are not even covering the mortgage.. £810 for central London 4 bedroom property..

    I was just wondering, what are the Landlords rights on the Tenants? Do they not have a responsibility for the maintenance of the property? What happens when we remove the Tiles from the ceiling - do we have to make it good? paint, plaster etc.. ? or are plasterboards sufficient - as to be fair, it's now safe and that is the primary concern of the council.

    I'm not an awful landlord/nor a property magnate, we just bought this as property from some money that was left to the family at auction..

    Any Advice? or anyone know of any experts that we can contact that can help landlords on these issues?

    #2
    Bad buy - sorry.
    Never buy a property with tenants in situ.
    Never buy a regulated tenancy.
    You are just going to have to accept that you are going to suffer a massive likely loss.

    Comment


      #3
      Why didn't your original solicitor not point out the issues with such a purchase?

      Comment


        #4
        You've taken an interesting investment strategy to follow... Were there many other bidders?

        Will pm one person with much better knowledge than myself ....

        Couple of things that might help..
        https://forums.landlordzone.co.uk/fo...ng-obligations
        &
        https://nearlylegal.co.uk/2010/05/of...e-temptations/

        When does tenant state they 1st moved in? (Not auctioneer, not vendor, not their solicitor, not estate agent - but when did TENANT state they 1st moved in, please??).

        Is there a written tenancy??

        Is rent registered??

        What is tenant's attitude towards you, please?

        Have s3 & s48 notice(s) been served, please?

        Was whoever you used for purchase/conveyances knowledgeable in landlord/tenant law, in particular regulated tenancies, please?
        I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

        Comment


          #5
          Originally posted by Mrbreaker View Post
          I am having an issue whereby the council have asked us to do a number of massive repairs (we bought the property last year, our own fault for not checking about the tenancy!)

          This includes
          - Roof work
          - New Boilers
          - New Electrics
          - Removing Polystyrene Ceiling Tiles
          Have the council served notices requiring that the work is done, or have they informally told you they'd like this work done?

          Formal notices have an appeals process, informal requests are not mandatory (although they can be the council pointing out that you have a legal obligation without going formal immediately.

          The tenants are not even covering the mortgage.. £810 for central London 4 bedroom property.
          Do the mortgage lender know it's a regulated tenancy?
          Don't tell them or ask them (because that could make things much worse), but you need to check the mortgage terms and conditions.
          And you may need to remortgage if the terms don't support this kind of letting.

          I was just wondering, what are the Landlords rights on the Tenants? Do they not have a responsibility for the maintenance of the property? What happens when we remove the Tiles from the ceiling - do we have to make it good? paint, plaster etc.. ? or are plasterboards sufficient - as to be fair, it's now safe and that is the primary concern of the council.
          The tenant has an obligation not to cause damage and to do very routine things - keep drains and gutters clear, that kind of things.
          You're responsible for the structure of the building, the electrics and plumbing and making sure the property is safe.

          I'm not an awful landlord/nor a property magnate, we just bought this as property from some money that was left to the family at auction.
          It was a very poor decision.
          You have made two serious errors of judgement.
          You've decided to become landlords without any real idea of what's involved - the obligations of a landlord aren't that different in any kind of tenancy, regulated or not.
          You seem to have decided to go into a business without knowing the rules.

          And you've bought a regulated tenancy, which might be a great long term investment, but is going to be problematic short term ignoring some obvious warning signs - incomplete legal information for the sale and a lower than it should be rent.

          Any Advice? or anyone know of any experts that we can contact that can help landlords on these issues?
          There are specialist property solicitors.
          The best advice might be to try and sell it at auction and hope someone else makes the same mistake that you did.
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

          Comment


            #6
            You most likely purchased this from a auction, thinking it's a great price for a property in central London,


            your only choice :

            - is too buy the T's out (pay them off to leave).

            - Alternatively you could explore raising the rent (but it will be no were close too market rent at best only a few quid increase).

            - Put the property back into auction and see if someone else will purchase it, you may make money or you may not.

            Comment


              #7
              We had a Regulated Tenancy and what I learned along the way was this:

              Even though it was a 'full repairing tenancy' subsequent housing acts means that as a LL you are responsible for the fabric of the building & the heating of space & water - this pretty much covers everything in your list except possibly the ceiling tiles but as they are a safety hazard you probably are for those too. I would suggest you need to make any work 'good' but they would probably be responsible for decoration.

              Your rent will be set by the Valuation Office and can be reviewed once every 2 years. There is a limit to how much you can increase it but be sure to do this every 2 years. They are generally pretty helpful people so don't be afraid to contact them.

              If you materially improve the property you can also ask for a rise in the rent - a new central heating system might allow you an increase but probably not just a boiler.

              Unless they stop paying the rent you have no chance of getting the property back other than buying them out.

              A family member who has lived in the property for 2 years may inherit the tenancy when the tenant passes away and the terms continue. I think it is only one generation that this works for.

              Our house was owned by my grandmother, then my mother & then me & my siblings and it was only the 3rd generation that managed to recover the property, when the tenant was in her 80s & after we went to court to force her to maintain the inside of the property and the fence.

              This is a very difficult battle to win - good luck

              Comment

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