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Archive for November, 2008

Tax help to new landlord

Posted by admin On November - 30 - 2008

Sorry to all if i may seem a little green.

I recently:

Bought Property for £102′500
Spent Around £12′500 refurbishing (including 4 mortgage payments at £570 each)

I would say the property is now worth (Due to refurb) £125′000

Due to interest rate reductions the mortgage payments will be around £490 pcm in the forseeable future.

I have tenants in paying £550pcm (Making me £60 pcm)

Will i bay liable to pay tax at the tax year end??

I know this is a straight forward question to most but i simply don’t know the exact answer…

I would appreciate any help at all….
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Tenants want to end contract within the fixed term

Posted by admin On November - 30 - 2008

My tenants signed a fixed term (1 year) tenancy agreement 2 months ago and now I have been served notice from them that they want to end the contract and therefore will be moving out in 2 months.

The reason the tenants are serving the notice is due to ‘breach of covenant of quiet enjoyment’, which is being caused by a third party (building work by a developer and a barking guard dog owed by a security company), not by myself directly. However, I have taken this forward with the developer and reported this to the local council on the tenants’ behalf but they’ve decided to move out nonetheless, although I offered to reduce the rent.

This is a breach of contract and surely they can’t do this. What are the necessary legal procedures I need to follow to retrieve the remaining rent that would have been due to me and how will I be able to track them after they have moved?

Thanks.
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HELP NEEDED - Nightmare tenants

Posted by admin On November - 30 - 2008

Hi

Please could anyone tell me what my options are:

I had two tenants in my property who moved out without any notice given, they owe me £1200 in rent arrears, plus approx £1500 of damage done to the property.

They both received benefits and managed to get their housing benefit stopped from coming to me and paid directly to them (the council never notified me of this change), so the arrears shot up dramatically without my knowledge. (the tenants had to top the rent up each month). They have only moved around the corner!!! I have phoned, written letters, called in on them - they just keep telling me ‘next week’.

They wouldn’t give the keys back so I took possession. They have kept a dog in the property that has completely distroyed the carpets, doors, window and skirting, and the property now stinks! - (the agreement clearly says no pets). They have damaged several areas of plasterwork. We had to clear out two large trailer loads of rubbish from the back garden. The washing machine is missing. The list is endless!!!

I am in the process of getting the £500 deposit back.

Any ideas? Thank you
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Have you put off purchasing a home water filter system because you’re worried that you would lose your investment if you had to move? Well I’m here to tell you that its possible to purchase a portable water purification system, guaranteed to easily and conveniently move with you. This means that you make a one-time investment for a lifetime of clean water for your and family.
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How Do Home Water Filters Work?

Posted by admin On November - 30 - 2008

If you’re shopping for home water filters, you might want to know a little bit about how do water filters work. Your kids might be interested, as well. In order to briefly explain, without getting to technical, let’s look at specific contaminants, what they are and how they are removed.
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Characteristics of an Effective Undercounter Water Filter

Posted by admin On November - 30 - 2008

An effective under counter water filter can cost as much as $800. But, you can buy under counter water filters that are just as effective for less than $200. You just have to look for a product that does not include a reverse osmosis step.
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Whole House Water Filtration Systems - Is Chlorine a Problem?

Posted by admin On November - 30 - 2008

Have you looked at those whole house water filtration systems that are available to you? If high levels of chlorine are a big problem where you live then you may want to consider buying one. A lot of people have been switching to this kind of unit because it leaves them with only one filter that they have to change.
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Every day, people around the country ask, What can I add to my tap water to make it taste better? Well, our extensive research has come up with an answer. This article will answer that question for consumers.
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Whole House Water Purification - Time to Think Seriously

Posted by admin On November - 30 - 2008

With all of the contamination that can be found in our drinking water I think that it is time for you to think seriously about a whole house water purification system. Whole house water purifiers could be just the thing that you need in order to protect the health of both you and your family.
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Reverse Osmosis Water Treatment System - Do You Need One?

Posted by admin On November - 30 - 2008

I’ve been reading a lot about the wonders of the reverse osmosis water treatment system. I don’t know what you may have heard about these units, but I am here to tell you right now that reverse osmosis water treatment systems are not all that they are made out to be.
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