my mistake Jeffrey - its not LLC its LLP , i belive its partnership as as laywers firm. should they treated like a company?
its laywers firm based in London
many thanks
its laywers firm based in London
many thanks
-
-
yes, its a Limited Liablity Partnership and therefore not an AST and as such deposit does not have to be protected.Comment
-
LLP= Limited Liability Partnership.
It's a sort of halfway between partnership and company.
See Limited Liability Partnership Act 2000: http://www.legislation.gov.uk/ukpga/2000/12/contentsJEFFREY 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
-
Clarify with the LLP who the other party to the AST will be. If it is the LLP itself point out the section of the Housing Act 1988 that says an AST can only be with an individual. That should make them feel a bit foolish at least. If they don't listen you lose nothing from signing it. An AST that is not with an individual cannot be an AST, whatever it says on it's face.Disclaimer:
The above represents my own opinion, derived from personal knowledge and should not be relied upon as definitive or accurate advice. It is offered free of charge and may contain errors or omissions or be an inaccurate opinion of the law. I accept no liability for any loss or damage suffered as a result of relying on the above.Comment
-
True. The document could create a common-law contractual Letting Agreement, albeit not with AST status.Originally posted by bhaal View PostJEFFREY 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
-
So i can go ahead and sign it and ignore the clause about deposit protection (even it will be in the contract)...and they will not be able to penalise me in case i hold deposit with me...they seem solid tenants, just do not want to loose them....thanksComment
-
I think you'll find that the three schemes won't allow you to register a company even if you try to.My advice is not based on formal legal training but experience gained in 20+ years in the letting industry.Comment
-
Yes. As oaktree posts, a non-AST deposit is outside all three AST-deposit schemes.Originally posted by Eric675 View PostJEFFREY 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
-
great...yep just tried to do it with mydeposit and they refuse to register...looks like its close the topic....only question left...why are they pushing for it....where is the catch....they are legal guys...and this is very B&W point...Comment
-
Residential Letting to Service Companies, which document to use?
Hi,
I am currently advertising 2 block of residential properties and have been approached by a service company. They are looking to rent the properties from me and they then rent them out as serviced apartments on shorter terms. I understand that i should not be using an AST as letting to a company falls outside the Housing Act but i do not know if it is sufficent to use a company let. I wonder as the nature of their business is letting if i need to use a commercial lease. Any advise welcome. ThanksComment
-
I wouldn't personally use a DIY job. Spend a bit and get a solicitor to advise you. I suspect you will need a commercial lease and the rights you're going to be granting and reserving are going to be specific and dealed.[I]The opinions I give are simply my opinions and interpretations of what I have learnt, in numerous years as a property professional, I would not rely upon them without consulting with a paid advisor and providing them with all the relevant facts[I]Comment
-
Several largely similar questions on separate threads have been merged into this thread (hence the repetitive nature of answers).Comment
-
When i said dealed. I meant detailedOriginally posted by MrJohnnyB View Post
[I]The opinions I give are simply my opinions and interpretations of what I have learnt, in numerous years as a property professional, I would not rely upon them without consulting with a paid advisor and providing them with all the relevant facts[I]Comment
Comment