Squatters in your property?
Posted by btcint in Commercial on May 9, 2012
MENTION SQUATTERS AND MOST LANDLORDS would reel in horror. Squatting is when someone occupies an empty or abandoned property which they don’t own or rent, and without the owner’s permission.
Simply being on another person’s property without their permission is not usually a crime in itself. But if squatters commit other crimes when entering or staying in a property, the police can take action against them.
Contrary to what people might want to think, Squatting is still legal in England and Wales. Squatting is a civil matter to be resolved in the civil courts between the squatters and the owners. The owners have legal ways and procedures to have squatters evicted and cannot legally use force or threats. Read the rest of this entry »
EPC Regulations – what you need to know from April 6
A number of changes are soon to come into force surrounding the residential and commercial Energy Performance Certificate (EPC) regulations.
First and foremost, from April 6, 2012, an EPC must be procured on all properties before they are marketed for either sale or rent. The first page of the EPC report is to be attached to the written particulars (either physically for paper particulars or via an electronic link to the most current EPC on the official register for electronic listings), and must be added within a seven-day period (reduced from the original 28-day period). Read the rest of this entry »
Empty Shops
Posted by btcint in Commercial on March 19, 2012
The number of empty shops on UK high Street is said to increase in 2012. This could be attributed to many reasons but mainly weak consumer confidence, rising unemployment and growing online sales.
The High Street has been suffering in the consumer downturn. Customers have been watching their pennies amid concerns about high inflation and job security. Frequency of closing business resulting in empty shops is worryingly high; many fronts have called on the Government for reduction in rates, which has been confirmed that there is an increase in the rates this April. Read the rest of this entry »
How important is Rental Guarantee Insurance?
The short answer is ‘very important’. No matter who you are letting your property to, it is important to have Rental Guarantee Insurance in place. Covering your mortgage with a rental income is the whole idea behind a buy to let property, so it makes perfect sense to protect yourself against the possible eventualities. Read the rest of this entry »
Getting References for Tenants
Posted by btcint in Commercial on March 12, 2012
Maintaining landlords’ rental income stream from a property now and in future is the key for them. It is also important that the property is maintained with no expenditure required on the part of the landlord; this is done by recovering insurance, maintenance and upkeep costs from the occupying tenants through the service charge. If the landlord is successful in achieving a secure rental stream under a fully repairing and insuring lease, it will optimize the value of its property. Read the rest of this entry »
To increase rent or not to increase rent?
So when is the best time to increase your rent? There is no doubt that this should be done when re-letting the property and not at the point of a renewal.
The relationship you have with your existing tenant may be great, but requesting a rental increase when the tenant has requested a renewal, in most cases, will not go in your favour. If it does and the tenant agrees to the increase, then fair play you must be special. Read the rest of this entry »
House Prices Stagnate As Activity Stalls
House prices have stagnated under the weight of economic troubles, according to two separate studies released this morning.
The average price of a British home fell by one per cent in December leaving prices virtually unchanged through last year, as recorded by an aggregate of several price surveys. And a new report from hometrack says that a minimal rise in London’s prices in January only slightly offset falls elsewhere in the UK, leaving overall prices unchanged in the first month of the year. Read the rest of this entry »
Section 106 Explained
Posted by btcint in Commercial on March 2, 2012
Section 106 (S106) of the Town and Country Planning Act 1990 allows a local planning authority (LPA) to enter into a legally-binding agreement or planning obligation with a landowner in association with the granting of planning permission. The obligation is termed a Section 106 Agreement. These agreements are a way of delivering or addressing matters that are necessary to make a development acceptable in planning terms. They are increasingly used to support the provision of services and infrastructure, such as highways, recreational facilities, education, health and affordable housing. Read the rest of this entry »
Ground Rents
Posted by btcint in Commercial on March 2, 2012
People are often curious as to what the attraction of ground rent ownership is, and what a developer’s retained ground rents might be worth. With the market for residential turning there is a definite trend for developers to seek ‘liquidity’ by selling their ground rents. Read the rest of this entry »
