Pre-auction due diligence

[doobrey]

A couple of big ones to make sure are sorted are deposit protection and gas safety certificates (if applicable).

[doobrey]

Agree with the above - discuss with agent in the first instance. There should not be any additional residents and the tenant with the GF living there will no doubt be in breach of his tenancy agreement.

As LL I had a case where one of my tenants in an HMO reportedly had his girlfriend staying...

[doobrey]

Certainly recommend that for anyone who doesn't do it already. Untangles things for admin purposes.

I have got two current accounts and two credit cards. One for personal, one for business....

[doobrey]

Can't answer all those, but -

1. You wouldn't need a tenancy agreement. You would need a lodger agreement. There are templates freely available e.g. Shelter's
2. You don't need to sign up for the Rent a Room Scheme. It just exists.

[doobrey]

In reality I can't see many private landlords in this scenario pursuing grieving parents for unpaid rent. It would be legally due either from guarantors (if enforceable) or from estate and may well be accepted if offered, but I think it would take a fairly 'special' individual to take legal action in...

[doobrey]

The usual term is 'resident landlord', or 'live-in' landlord.

[doobrey]

Thanks for the input. (For avoidance of doubt, no suggestion of DIY conveyancing. This question is about initial legal due diligence only.)

[doobrey]

I have only ever bought one property at auction. In that case I paid a solicitor and a surveyor to check it out first. I was serious about bidding, so this seemed a worthwhile expense.

Although I would, in theory, buy at auction again, I would be put off by the costs of paying professional...

[doobrey]

1. Yes, possible that freehold pre-dates the building (but I have been presuming not). Not sure off the top of my head what was on the site before. The current building was a new-build.

2. I haven't seen the plan. The text part, which I have got, was provided to me by another leaseholder....

[doobrey]

Understood, thanks.

Renumbering would explain it but I doubt that is the case here. The building is relatively modern. It was built about twelve years ago or so.

[doobrey]

We have various problems with our freeholder. Mostly the usual ; absent, unresponsive, slow, expensive. Interested in RTM or purchase of freehold if we can muster the required leaseholder numbers.

It has come to my attention that the freehold title in the register contains a significant...

[doobrey]

Having checked I think I was incorrect in saying that DVLA will not release keeper's information. They will if 'reasonable cause' can be demonstrated, and this should count. Use form V888 in that case. Fee is £2.50 and you will be expected to provide a photo showing the registration number.

[doobrey]

Preceding posts both relevant to other recent discussions.



As per https://forums.landlordzone.co.uk/fo...th-new-tenancy



As per https://forums.landlordzone.co.uk/fo...isting-tenants...

[doobrey]

I understood the inverted commas to mean "so-called" or "perceived".

[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


...

[doobrey]

Agreed. This sort of legislation seems the main reason for caution at the moment. I would say LL's risk exposure is higher now than it has been for a very long time, and there is no sign of that changing any time soon....

[doobrey]

No, that's not what I said. I estimated £15 pcm increase per annum.

[doobrey]

SDLT on additional properties still applies, at 3% up to 500k.

Tend to agree with BTL Investor that a price drop may be coming.

Now does not seem an obvious time to be getting into Buy To Let....

[doobrey]

I sent a LBC to a tradesman not so long ago and considered the same question. I concluded that I was not a consumer, so I cited the Supply of Goods and Services Act 1982.

[doobrey]

I don't think the financial case is clear-cut.

In my area I guess rent for a house has increased by about £15 pcm per annum on average over the last 10 years. So taking that as representative, in year 2 maybe I stand to lose £180 (gross) by leaving rent unchanged. A void would probably...