New landlord question - advising Management

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    New landlord question - advising Management

    Hi
    I am just about to let out my flat in London, first time, so dont want to make any boo boos.
    Two LA came round yesterday. Big difference in full mgt fees - 10% (plus VAT) and 16% (plus VAT). The 10% one was "special summer offer but we are extending it". If I go with them shall I ask them to put in writing how long I will get this special rate. I dont want them to suddenly up it after a few months.
    Also when I asked them if I needed to inform the freeholders of the building that the flat would be rented they said no need to bother. THere are about 70 flats in my block and about 50% rented. Happy not to inform but dont want any repercussions.

    Any advice would be very gratefully received.

    Thanks

    #2
    Originally posted by spidersonweb
    you should ask your neighbors and have contract from them in written with all the specifications mentioned in it.
    What does all that mean exactly? And what about the people over the road?

    And do you know anywhere I can get shabbily written medical cover contract cover with for sure cover in case of cover not covering certain exemplary risks or not risks covered with neighbour contract recovery specifically wroten in by them for us cover?

    pm
    Before acting on forum advice, you may wish to consult an expert, someone who has all the relevant facts, and who accepts liability for their advice.

    Comment


      #3
      Originally posted by stoker48 View Post
      Happy not to inform but dont want any repercussions.
      Then inform them.
      Allow tenants to protect their own deposits. I want free money when they do it wrong

      Comment


        #4
        Originally posted by thesaint View Post
        Then inform them.
        Yes; and read carefully the leaseholder's covenants in your lease. No matter what you were told orally, it's this document that counts!
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment


          #5
          Originally posted by stoker48 View Post
          Also when I asked them if I needed to inform the freeholders of the building that the flat would be rented they said no need to bother.
          For an agent to tell you this, it is obvious they are not giving you best advice - either through ignorance or desperate for the deal.

          In either case, treat the agents comment as warning that if you instruct them, the service you receive will have similar regard to your own legal liabilities (and as agent they are not responsible for, but you as owner).

          Choose another agent.
          On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

          Comment

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